DA Davidson Downgrades Tyler Technologies (TYL) to Neutral

Tyler Technologies (NYSE:TYL) was downgraded by stock analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, The Fly reports.

TYL has been the subject of several other research reports. Zacks Investment Research upgraded Tyler Technologies from a “hold” rating to a “buy” rating and set a $236.00 price target for the company in a research note on Saturday, October 27th. ValuEngine upgraded Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Friday, December 21st. JMP Securities decreased their price target on Tyler Technologies from $250.00 to $245.00 and set a “market outperform” rating for the company in a research note on Thursday, November 1st. TheStreet cut Tyler Technologies from a “b” rating to a “c+” rating in a research note on Thursday, November 1st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Tyler Technologies in a report on Friday, November 2nd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $233.36.

Shares of NYSE:TYL opened at $208.70 on Friday. The firm has a market cap of $8.28 billion, a price-to-earnings ratio of 55.80, a P/E/G ratio of 4.69 and a beta of 0.81. Tyler Technologies has a 12-month low of $173.26 and a 12-month high of $252.47.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, February 20th. The technology company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.29. Tyler Technologies had a return on equity of 11.24% and a net margin of 15.74%. The business had revenue of $242.00 million during the quarter, compared to analysts’ expectations of $244.65 million. During the same quarter in the previous year, the business earned $1.07 earnings per share. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, equities research analysts forecast that Tyler Technologies will post 4.54 EPS for the current fiscal year.

In other Tyler Technologies news, Director Dustin R. Womble sold 7,500 shares of the business’s stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $186.26, for a total transaction of $1,396,950.00. Following the completion of the sale, the director now owns 185,622 shares of the company’s stock, valued at $34,573,953.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dustin R. Womble sold 20,000 shares of the business’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $190.66, for a total value of $3,813,200.00. Following the sale, the director now directly owns 198,122 shares of the company’s stock, valued at approximately $37,773,940.52. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in TYL. BlackRock Inc. grew its holdings in Tyler Technologies by 8.9% during the fourth quarter. BlackRock Inc. now owns 3,716,871 shares of the technology company’s stock valued at $690,669,000 after purchasing an additional 303,947 shares during the period. Mackenzie Financial Corp bought a new stake in Tyler Technologies during the fourth quarter valued at about $29,035,000. Waratah Capital Advisors Ltd. bought a new position in shares of Tyler Technologies in the fourth quarter worth about $21,653,000. Conestoga Capital Advisors LLC boosted its stake in shares of Tyler Technologies by 55.9% in the fourth quarter. Conestoga Capital Advisors LLC now owns 301,309 shares of the technology company’s stock worth $55,989,000 after acquiring an additional 108,010 shares during the period. Finally, Vanguard Group Inc boosted its stake in shares of Tyler Technologies by 3.3% in the third quarter. Vanguard Group Inc now owns 3,326,669 shares of the technology company’s stock worth $815,233,000 after acquiring an additional 106,568 shares during the period. 91.98% of the stock is owned by institutional investors and hedge funds.

Tyler Technologies Company Profile

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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