Tyler Technologies (NYSE:TYL) Reaches New 12-Month High at $499.61

Tyler Technologies, Inc. (NYSE:TYL)’s share price reached a new 52-week high on Thursday . The stock traded as high as $499.61 and last traded at $498.84, with a volume of 1674 shares. The stock had previously closed at $486.99.

Several research firms have weighed in on TYL. BTIG Research raised Tyler Technologies from a “neutral” rating to a “buy” rating and set a $585.00 price target for the company in a research report on Tuesday, August 31st. Wolfe Research started coverage on Tyler Technologies in a report on Monday, September 13th. They set an “outperform” rating and a $550.00 price objective on the stock. JMP Securities raised their price objective on Tyler Technologies from $480.00 to $525.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. Zacks Investment Research cut Tyler Technologies from a “buy” rating to a “hold” rating and set a $492.00 price objective on the stock. in a report on Tuesday, September 28th. Finally, Robert W. Baird raised their price objective on Tyler Technologies from $500.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, July 14th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $522.46.

The stock has a market cap of $20.39 billion, a price-to-earnings ratio of 133.39 and a beta of 0.59. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average of $474.02 and a two-hundred day moving average of $451.84.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, July 28th. The technology company reported $1.83 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.63. The company had revenue of $405.36 million for the quarter, compared to analysts’ expectations of $370.85 million. Tyler Technologies had a return on equity of 10.03% and a net margin of 12.30%. Equities research analysts anticipate that Tyler Technologies, Inc. will post 4.92 EPS for the current fiscal year.

In other news, Director Glenn A. Carter sold 200 shares of Tyler Technologies stock in a transaction dated Wednesday, September 8th. The stock was sold at an average price of $486.23, for a total transaction of $97,246.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction dated Wednesday, September 8th. The shares were sold at an average price of $484.60, for a total value of $1,211,500.00. Following the completion of the sale, the chief financial officer now directly owns 26,401 shares of the company’s stock, valued at $12,793,924.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,729 shares of company stock worth $10,036,591. 2.70% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its stake in Tyler Technologies by 50.0% during the first quarter. Principal Financial Group Inc. now owns 1,126,651 shares of the technology company’s stock worth $478,297,000 after purchasing an additional 375,633 shares during the last quarter. E Fund Management Co. Ltd. bought a new position in Tyler Technologies during the first quarter worth $233,000. Panagora Asset Management Inc. lifted its stake in Tyler Technologies by 18.6% during the first quarter. Panagora Asset Management Inc. now owns 1,717 shares of the technology company’s stock worth $729,000 after purchasing an additional 269 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Tyler Technologies by 0.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,075 shares of the technology company’s stock worth $2,154,000 after purchasing an additional 36 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its stake in Tyler Technologies by 36.8% during the first quarter. Ensign Peak Advisors Inc now owns 19,575 shares of the technology company’s stock worth $8,310,000 after purchasing an additional 5,262 shares during the last quarter. 90.66% of the stock is currently owned by institutional investors and hedge funds.

About Tyler Technologies (NYSE:TYL)

Tyler Technologies, Inc engages in the provision of integrated technology and management solutions and services for public sector with a focus on local governments. It operates through the following segments: Enterprise Software and Appraisal and Tax. The Enterprise Software segment provides municipal and county governments and schools with software systems to meet their information technology and automation needs for mission-critical back-office functions such as financial management, courts and justice processes.

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