Tyler Technologies (TYL) Upgraded to “Hold” at Zacks Investment Research

Tyler Technologies (NYSE:TYL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “Tyler Technologies, Inc. is engaged in providing integrated information management solutions and services to the public sector. It provides software products and services; professional IT services; subscription-based services; property appraisal outsourcing services. Its products generally automate three major functional areas (1) financial management and education, (2) courts and justice and (3) property appraisal and tax. Tyler operates in two reportable segments: Enterprise Software Solutions (ESS) and Appraisal and Tax Software Solutions and Services. The Enterprise Software Solutions (ESS) segment provides software systems to municipal and county governments and schools. The Appraisal and Tax Software Solutions and Services segment provides systems and software that automate the appraisal and assessment of real and personal property as well as property appraisal outsourcing services for local governments and taxing authorities. Tyler Technologies, Inc. is headquartered in Dallas, Texas. “

A number of other analysts also recently issued reports on the stock. JMP Securities cut their price objective on shares of Tyler Technologies from $250.00 to $245.00 and set a “market outperform” rating for the company in a report on Thursday, November 1st. TheStreet downgraded shares of Tyler Technologies from a “b” rating to a “c+” rating in a report on Thursday, November 1st. Robert W. Baird cut their price objective on shares of Tyler Technologies from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, November 2nd. KeyCorp reissued a “hold” rating on shares of Tyler Technologies in a report on Friday, November 2nd. Finally, B. Riley boosted their price objective on shares of Tyler Technologies from $200.00 to $206.00 and gave the company a “neutral” rating in a report on Monday, July 30th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Tyler Technologies presently has a consensus rating of “Buy” and an average price target of $233.36.

Shares of TYL stock opened at $186.18 on Friday. The stock has a market cap of $7.18 billion, a P/E ratio of 58.55, a P/E/G ratio of 4.90 and a beta of 0.92. Tyler Technologies has a 52 week low of $175.88 and a 52 week high of $252.47.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, October 31st. The technology company reported $1.23 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.23. The firm had revenue of $236.10 million during the quarter, compared to the consensus estimate of $240.98 million. Tyler Technologies had a net margin of 19.47% and a return on equity of 11.19%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 EPS. On average, analysts forecast that Tyler Technologies will post 3.77 earnings per share for the current fiscal year.

In other news, Director Luther King, Jr. sold 275 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $193.29, for a total transaction of $53,154.75. Following the completion of the sale, the director now owns 72,864 shares of the company’s stock, valued at approximately $14,083,882.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John S. Marr, Jr. sold 30,460 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $244.50, for a total transaction of $7,447,470.00. The disclosure for this sale can be found here. Insiders sold a total of 83,312 shares of company stock valued at $20,465,324 in the last three months. Insiders own 4.70% of the company’s stock.

Several institutional investors have recently modified their holdings of TYL. Morgan Stanley lifted its holdings in shares of Tyler Technologies by 949.5% during the 2nd quarter. Morgan Stanley now owns 940,517 shares of the technology company’s stock worth $208,889,000 after acquiring an additional 850,905 shares during the period. BlackRock Inc. lifted its holdings in shares of Tyler Technologies by 6.8% during the 3rd quarter. BlackRock Inc. now owns 3,412,924 shares of the technology company’s stock worth $836,373,000 after acquiring an additional 217,184 shares during the period. Creative Planning lifted its holdings in shares of Tyler Technologies by 4,621.9% during the 3rd quarter. Creative Planning now owns 143,923 shares of the technology company’s stock worth $35,270,000 after acquiring an additional 140,875 shares during the period. First Trust Advisors LP lifted its holdings in shares of Tyler Technologies by 2,630.4% during the 2nd quarter. First Trust Advisors LP now owns 132,125 shares of the technology company’s stock worth $29,345,000 after acquiring an additional 127,286 shares during the period. Finally, Riverbridge Partners LLC lifted its holdings in shares of Tyler Technologies by 46.6% during the 3rd quarter. Riverbridge Partners LLC now owns 346,911 shares of the technology company’s stock worth $85,014,000 after acquiring an additional 110,306 shares during the period. 91.68% of the stock is owned by institutional investors.

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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