Stock analysts at Citigroup Inc. initiated coverage on shares of Tyler Technologies, Inc. (NYSE:TYL) in a research report issued on Friday, The Fly reports. The firm set a “buy” rating on the technology company’s stock.

Other analysts have also issued research reports about the company. B. Riley restated a “buy” rating and set a $184.00 target price on shares of Tyler Technologies in a report on Friday, July 28th. Northland Securities reiterated a “buy” rating and set a $200.00 price objective on shares of Tyler Technologies in a report on Thursday. BidaskClub lowered Tyler Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research lowered Tyler Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Maxim Group set a $197.00 price objective on Tyler Technologies and gave the company a “buy” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $194.50.

Shares of Tyler Technologies (NYSE TYL) opened at 170.61 on Friday. The firm has a 50 day moving average price of $170.29 and a 200-day moving average price of $166.78. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 51.11 and a beta of 0.95. Tyler Technologies has a 12-month low of $139.61 and a 12-month high of $182.49.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, July 26th. The technology company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.03). The company had revenue of $209.12 million for the quarter, compared to analysts’ expectations of $210.67 million. Tyler Technologies had a return on equity of 13.02% and a net margin of 14.73%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. On average, equities analysts expect that Tyler Technologies will post $3.87 earnings per share for the current fiscal year.

WARNING: This story was first posted by American Banking News and is the property of of American Banking News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of international copyright laws. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/09/22/citigroup-inc-begins-coverage-on-tyler-technologies-inc-tyl.html.

In related news, VP Brian K. Miller sold 1,848 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $172.58, for a total value of $318,927.84. Following the transaction, the vice president now directly owns 52,657 shares of the company’s stock, valued at approximately $9,087,545.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Larry D. Leinweber sold 36,000 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $170.98, for a total value of $6,155,280.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 279,357 shares of company stock valued at $47,777,389. Company insiders own 10.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. YHB Investment Advisors Inc. acquired a new position in shares of Tyler Technologies in the 2nd quarter valued at $209,000. Lakeview Capital Partners LLC acquired a new position in shares of Tyler Technologies in the 2nd quarter valued at $211,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tyler Technologies by 32.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,298 shares of the technology company’s stock valued at $201,000 after acquiring an additional 317 shares during the period. D.A. Davidson & CO. increased its position in shares of Tyler Technologies by 13.3% in the 2nd quarter. D.A. Davidson & CO. now owns 1,391 shares of the technology company’s stock valued at $244,000 after acquiring an additional 163 shares during the period. Finally, Fiduciary Trust Co. acquired a new position in shares of Tyler Technologies in the 2nd quarter valued at $250,000. 90.51% of the stock is currently owned by hedge funds and other institutional investors.

About Tyler Technologies

Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company operates through two segments: Enterprise Software (ES) segment and The Appraisal and Tax (A&T) segment. ES segment provides municipal and county governments and schools with software systems and services for information technology and automation needs that includes back-office functions, such as financial management, courts and justice processes, public safety, planning regulatory and maintenance, and land and vital records management.

The Fly

Analyst Recommendations for Tyler Technologies (NYSE:TYL)

Receive News & Ratings for Tyler Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyler Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.