Tyler Technologies (TYL) Stock Rating Reaffirmed by KeyCorp

Tyler Technologies (NYSE:TYL)‘s stock had its “hold” rating reiterated by equities research analysts at KeyCorp in a research report issued to clients and investors on Friday.

The analysts wrote, “We are lowering our estimates slightly to reflect longer adoption cycles for new software within local government. Our Sector Weight rating reflects a balanced risk-reward where multiple expansion could be tempered until growth improves. TYL shares are currently valued at 7.5x 2019 2019 EV/FCF. Organic growth slows to 6.6% y/y.””

A number of other research analysts have also recently commented on the stock. JMP Securities decreased their target price on shares of Tyler Technologies from $250.00 to $245.00 and set a “market outperform” rating on the stock in a research report on Thursday. Zacks Investment Research raised shares of Tyler Technologies from a “hold” rating to a “buy” rating and set a $236.00 target price on the stock in a research report on Saturday, October 27th. B. Riley upped their target price on shares of Tyler Technologies from $200.00 to $206.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $260.00 target price (up previously from $240.00) on shares of Tyler Technologies in a research report on Friday, July 27th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $233.36.

Shares of TYL stock traded down $0.10 on Friday, hitting $194.90. 408,054 shares of the stock traded hands, compared to its average volume of 244,419. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 61.29, a PEG ratio of 5.14 and a beta of 0.92. Tyler Technologies has a twelve month low of $168.12 and a twelve month high of $252.47.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, October 31st. The technology company reported $1.23 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.23. Tyler Technologies had a net margin of 19.47% and a return on equity of 11.19%. The company had revenue of $236.10 million for the quarter, compared to analysts’ expectations of $240.98 million. During the same quarter in the prior year, the company posted $1.05 earnings per share. Tyler Technologies’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, analysts expect that Tyler Technologies will post 3.78 EPS for the current fiscal year.

In other news, Director Brenda A. Cline sold 4,000 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $250.39, for a total transaction of $1,001,560.00. Following the sale, the director now owns 5,000 shares of the company’s stock, valued at $1,251,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian K. Miller sold 10,000 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $233.87, for a total transaction of $2,338,700.00. The disclosure for this sale can be found here. Insiders have sold 133,397 shares of company stock worth $32,234,944 in the last three months. Corporate insiders own 4.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its position in shares of Tyler Technologies by 11.6% during the second quarter. Commonwealth Equity Services LLC now owns 2,153 shares of the technology company’s stock worth $478,000 after purchasing an additional 223 shares in the last quarter. Securian Asset Management Inc lifted its position in shares of Tyler Technologies by 5.4% during the third quarter. Securian Asset Management Inc now owns 4,733 shares of the technology company’s stock worth $1,160,000 after purchasing an additional 242 shares in the last quarter. Zacks Investment Management lifted its position in shares of Tyler Technologies by 5.7% during the second quarter. Zacks Investment Management now owns 4,877 shares of the technology company’s stock worth $1,083,000 after purchasing an additional 261 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Tyler Technologies by 3.2% during the second quarter. Louisiana State Employees Retirement System now owns 9,600 shares of the technology company’s stock worth $2,132,000 after purchasing an additional 300 shares in the last quarter. Finally, State Treasurer State of Michigan lifted its position in shares of Tyler Technologies by 2.3% during the second quarter. State Treasurer State of Michigan now owns 13,100 shares of the technology company’s stock worth $2,910,000 after purchasing an additional 300 shares in the last quarter. 91.71% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Tyler Technologies (NYSE:TYL)

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