StockNews.com Initiates Coverage on Tyler Technologies (NYSE:TYL)

StockNews.com assumed coverage on shares of Tyler Technologies (NYSE:TYL – Get Rating) in a research report report published on Thursday morning. The brokerage issued a hold rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the company. Piper Sandler reduced their price target on Tyler Technologies from $468.00 to $450.00 and set an overweight rating on the stock in a research note on Friday, February 17th. Robert W. Baird reduced their price target on Tyler Technologies from $460.00 to $440.00 and set an outperform rating on the stock in a research note on Tuesday, December 13th. Credit Suisse Group cut their target price on Tyler Technologies from $375.00 to $370.00 and set a neutral rating on the stock in a research note on Tuesday, February 21st. Needham & Company LLC reissued a buy rating and issued a $475.00 target price on shares of Tyler Technologies in a research note on Friday, February 17th. Finally, JMP Securities cut their target price on Tyler Technologies from $465.00 to $415.00 in a research note on Friday, February 17th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $433.62.

Tyler Technologies Price Performance

Shares of TYL stock opened at $326.61 on Thursday. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of 84.40 and a beta of 0.81. The business’s fifty day moving average is $324.80 and its 200 day moving average is $331.06. Tyler Technologies has a twelve month low of $281.11 and a twelve month high of $453.03. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.36.

Insider Activity

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,000 shares of the stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $335.00, for a total value of $2,010,000.00. Following the transaction, the chief executive officer now owns 80,200 shares of the company’s stock, valued at $26,867,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,000 shares of the stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $335.00, for a total value of $2,010,000.00. Following the transaction, the chief executive officer now owns 80,200 shares of the company’s stock, valued at $26,867,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman John S. Marr, Jr. sold 4,868 shares of the stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $325.88, for a total value of $1,586,383.84. Following the completion of the transaction, the chairman now directly owns 59,970 shares in the company, valued at approximately $19,543,023.60. The disclosure for this sale can be found here. Insiders have sold a total of 18,898 shares of company stock valued at $6,195,979 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Lindbrook Capital LLC lifted its holdings in Tyler Technologies by 105.4% in the fourth quarter. Lindbrook Capital LLC now owns 76 shares of the technology company’s stock valued at $25,000 after acquiring an additional 39 shares during the period. Private Trust Co. NA purchased a new stake in Tyler Technologies in the second quarter worth about $32,000. Ruedi Wealth Management Inc. purchased a new stake in Tyler Technologies in the fourth quarter worth about $31,000. Belpointe Asset Management LLC purchased a new stake in Tyler Technologies in the fourth quarter worth about $33,000. Finally, CI Investments Inc. increased its position in Tyler Technologies by 136.7% in the fourth quarter. CI Investments Inc. now owns 116 shares of the technology company’s stock worth $37,000 after buying an additional 67 shares in the last quarter. Institutional investors own 89.45% of the company’s stock.

Tyler Technologies Company Profile

(Get Rating)

Tyler Technologies, Inc engages in the provision of integrated technology and management solutions and services for the 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.