Tyler Technologies (TYL) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Tyler Technologies (NYSE:TYL) from a sell rating to a hold rating in a research report report published on Thursday morning.

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. “

TYL has been the topic of a number of other reports. Robert W. Baird lowered their price objective on Tyler Technologies from $260.00 to $250.00 and set an outperform rating on the stock in a research note on Friday, November 2nd. JMP Securities lowered their price objective on Tyler Technologies from $250.00 to $245.00 and set a market outperform rating on the stock in a research note on Thursday, November 1st. KeyCorp restated a hold rating on shares of Tyler Technologies in a research note on Friday, November 2nd. Finally, TheStreet cut Tyler Technologies from a b rating to a c+ rating in a research note on Thursday, November 1st. Five investment 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 Tyler Technologies stock opened at $192.76 on Thursday. Tyler Technologies has a 52-week low of $176.36 and a 52-week high of $252.47. The stock has a market capitalization of $7.48 billion, a P/E ratio of 60.62, a PEG ratio of 5.12 and a beta of 0.92.

Tyler Technologies (NYSE:TYL) last announced 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. Tyler Technologies had a return on equity of 11.19% and a net margin of 19.47%. The business had revenue of $236.10 million for the quarter, compared to analysts’ expectations of $240.98 million. During the same period in the previous year, the business posted $1.05 EPS. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities analysts anticipate that Tyler Technologies will post 3.77 earnings per share for the current fiscal year.

In other Tyler Technologies news, Director Brenda A. Cline sold 4,000 shares of Tyler Technologies stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $250.39, for a total transaction of $1,001,560.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $1,251,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian K. Miller sold 5,652 shares of Tyler Technologies stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $249.64, for a total value of $1,410,965.28. Following the transaction, the vice president now directly owns 48,263 shares of the company’s stock, valued at approximately $12,048,375.32. The disclosure for this sale can be found here. Insiders have sold a total of 29,927 shares of company stock valued at $7,408,680 in the last ninety days. Insiders own 4.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Harvest Fund Management Co. Ltd grew its holdings in Tyler Technologies by 390.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 574 shares of the technology company’s stock valued at $141,000 after buying an additional 457 shares in the last quarter. First Republic Investment Management Inc. purchased a new position in Tyler Technologies during the 3rd quarter valued at about $201,000. Waldron Private Wealth LLC purchased a new position in Tyler Technologies during the 3rd quarter valued at about $207,000. Engineers Gate Manager LP purchased a new position in Tyler Technologies during the 3rd quarter valued at about $208,000. Finally, Alps Advisors Inc. purchased a new position in shares of Tyler Technologies during the second quarter worth about $209,000. 91.68% 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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