Tyler Technologies (NYSE:TYL) Reaches New 1-Year High at $464.81

Shares of Tyler Technologies, Inc. (NYSE:TYL) hit a new 52-week high during trading on Thursday . The stock traded as high as $464.81 and last traded at $447.07, with a volume of 114642 shares. The stock had previously closed at $419.00.

Analyst Ratings Changes

Several brokerages have weighed in on TYL. JPMorgan Chase & Co. lifted their price objective on shares of Tyler Technologies from $500.00 to $526.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. JMP Securities reiterated a “market outperform” rating and issued a $490.00 price objective on shares of Tyler Technologies in a research note on Friday, February 16th. Needham & Company LLC reiterated a “buy” rating and issued a $500.00 price objective on shares of Tyler Technologies in a research note on Thursday. DA Davidson lifted their price objective on shares of Tyler Technologies from $412.00 to $434.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $520.00 price objective on shares of Tyler Technologies in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $460.46.

Tyler Technologies Stock Performance

The stock’s 50-day moving average is $422.28 and its 200-day moving average is $414.52. The firm has a market capitalization of $19.43 billion, a price-to-earnings ratio of 114.57, a PEG ratio of 4.12 and a beta of 0.81. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. The business had revenue of $480.94 million during the quarter, compared to analysts’ expectations of $483.34 million. Tyler Technologies had a net margin of 8.50% and a return on equity of 8.85%. On average, analysts predict that Tyler Technologies, Inc. will post 6.77 EPS for the current fiscal year.

Insider Buying and Selling

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $437.49, for a total transaction of $2,843,685.00. Following the sale, the insider now directly owns 6,400 shares of the company’s stock, valued at approximately $2,799,936. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $421.27, for a total value of $1,053,175.00. Following the sale, the chief financial officer now directly owns 16,160 shares of the company’s stock, valued at approximately $6,807,723.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $437.49, for a total transaction of $2,843,685.00. Following the completion of the sale, the insider now directly owns 6,400 shares in the company, valued at $2,799,936. The disclosure for this sale can be found here. Insiders sold a total of 50,608 shares of company stock worth $21,974,819 in the last three months. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tyler Technologies

A number of institutional investors have recently modified their holdings of TYL. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Tyler Technologies by 7.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,205 shares of the technology company’s stock valued at $465,000 after acquiring an additional 85 shares during the period. Raymond James Trust N.A. lifted its position in shares of Tyler Technologies by 4.9% during the 4th quarter. Raymond James Trust N.A. now owns 1,515 shares of the technology company’s stock valued at $633,000 after acquiring an additional 71 shares during the period. Nordea Investment Management AB lifted its position in shares of Tyler Technologies by 4.6% during the 4th quarter. Nordea Investment Management AB now owns 2,600 shares of the technology company’s stock valued at $1,091,000 after acquiring an additional 115 shares during the period. DNB Asset Management AS acquired a new position in shares of Tyler Technologies during the 4th quarter valued at $5,040,000. Finally, NBW Capital LLC lifted its position in shares of Tyler Technologies by 50.7% during the 4th quarter. NBW Capital LLC now owns 13,345 shares of the technology company’s stock valued at $5,580,000 after acquiring an additional 4,489 shares during the period. 93.30% of the stock is owned by institutional investors.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.