Tyler Technologies (TYL) Lowered to “C+” at TheStreet

Tyler Technologies (NYSE:TYL) was downgraded by stock analysts at TheStreet from a “b” rating to a “c+” rating in a research report issued on Thursday.

Several other equities research analysts also recently issued reports on the company. JMP Securities cut their price target on Tyler Technologies from $250.00 to $245.00 and set a “market outperform” rating for the company in a report on Thursday. B. Riley raised their price target on Tyler Technologies from $200.00 to $206.00 and gave the company a “neutral” rating in a report on Monday, July 30th. Robert W. Baird reaffirmed a “buy” rating and set a $260.00 price target (up previously from $240.00) on shares of Tyler Technologies in a report on Friday, July 27th. KeyCorp reaffirmed a “hold” rating on shares of Tyler Technologies in a report on Friday. Finally, Zacks Investment Research raised Tyler Technologies from a “hold” rating to a “buy” rating and set a $267.00 price target for the company in a report on Tuesday, July 24th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $233.36.

Shares of NYSE TYL traded down $0.10 during trading hours on Thursday, hitting $194.90. The company had a trading volume of 408,054 shares, compared to its average volume of 215,185. Tyler Technologies has a 1-year low of $168.12 and a 1-year high of $252.47.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 31st. The technology company reported $1.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.23. The business had revenue of $236.10 million for the quarter, compared to analyst estimates of $240.98 million. During the same period in the prior year, the business earned $1.05 EPS. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year.

In other Tyler Technologies news, VP Brian K. Miller sold 10,000 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $233.87, for a total transaction of $2,338,700.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 9,200 shares of the stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $245.27, for a total value of $2,256,484.00. Following the transaction, the chief executive officer now owns 67,147 shares in the company, valued at approximately $16,469,144.69. The disclosure for this sale can be found here. Insiders have sold a total of 133,397 shares of company stock worth $32,234,944 in the last quarter. Company insiders own 4.70% of the company’s stock.

A number of hedge funds have recently bought and sold shares of TYL. Harvest Fund Management Co. Ltd increased its position in Tyler Technologies by 390.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 574 shares of the technology company’s stock worth $141,000 after buying an additional 457 shares during the period. Engineers Gate Manager LP bought a new position in Tyler Technologies during the 3rd quarter worth $208,000. Alps Advisors Inc. bought a new position in Tyler Technologies during the 2nd quarter worth $209,000. Welch & Forbes LLC bought a new position in Tyler Technologies during the 2nd quarter worth $222,000. Finally, Zions Bancorporation bought a new position in Tyler Technologies during the 3rd quarter worth $224,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. It operates through two segments, Enterprise Software, and Appraisal and Tax. The company's financial management solutions include modular fund accounting systems for government agencies or not-for-profit entities; and utility billing systems for the billing and collection of metered and non-metered services.

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