Tyler Technologies (TYL) Lowered to Hold at ValuEngine

Tyler Technologies (NYSE:TYL) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

TYL has been the subject of several other research reports. DA Davidson raised Tyler Technologies from a “neutral” rating to a “buy” rating in a research note on Friday, December 21st. Zacks Investment Research raised Tyler Technologies from a “hold” rating to a “buy” rating and set a $236.00 price objective for the company in a research note on Saturday, October 27th. TheStreet downgraded Tyler Technologies from a “b” rating to a “c+” rating in a research note on Thursday, November 1st. KeyCorp reaffirmed a “hold” rating on shares of Tyler Technologies in a research note on Friday, November 2nd. Finally, JMP Securities lowered their price objective 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. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $233.36.

Shares of TYL stock traded down $1.50 on Friday, reaching $183.96. The company had a trading volume of 180,300 shares, compared to its average volume of 251,813. The stock has a market capitalization of $7.20 billion, a P/E ratio of 57.85, a price-to-earnings-growth ratio of 4.08 and a beta of 0.83. Tyler Technologies has a one year low of $173.26 and a one year 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, hitting analysts’ consensus estimates of $1.23. The firm had revenue of $236.10 million during the quarter, compared to analysts’ expectations 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 prior year, the business earned $1.05 earnings per share. Sell-side analysts forecast that Tyler Technologies will post 3.79 EPS for the current fiscal year.

In other news, Director Dustin R. Womble sold 7,500 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 185,622 shares of the company’s stock, valued at $34,573,953.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dustin R. Womble sold 20,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 198,122 shares in the company, valued at $37,773,940.52. The disclosure for this sale can be found here. Insiders have sold a total of 27,775 shares of company stock valued at $5,263,305 in the last three months. Insiders own 4.70% of the company’s stock.

Large investors have recently made changes to their positions in the company. Alps Advisors Inc. purchased a new position in Tyler Technologies in the second quarter valued at $209,000. Legal & General Group Plc boosted its position in shares of Tyler Technologies by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 42,984 shares of the technology company’s stock valued at $9,547,000 after acquiring an additional 3,815 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Tyler Technologies by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 104,715 shares of the technology company’s stock valued at $23,256,000 after acquiring an additional 707 shares during the last quarter. AMP Capital Investors Ltd bought a new stake in shares of Tyler Technologies during the 2nd quarter valued at about $356,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Tyler Technologies in the 2nd quarter worth approximately $464,000. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

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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