Tyler Technologies, Inc. (NYSE:TYL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $198.00 price target on the technology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.68% from the company’s previous close.

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 subject of a number of other research reports. Piper Jaffray Companies reiterated a “buy” rating and set a $200.00 price target on shares of Tyler Technologies in a report on Sunday, August 27th. KeyCorp reiterated a “buy” rating and set a $180.00 price target on shares of Tyler Technologies in a report on Friday, October 6th. Citigroup Inc. started coverage on Tyler Technologies in a report on Friday, September 22nd. They set a “buy” rating and a $200.00 price target for the company. Maxim Group set a $197.00 price target on Tyler Technologies and gave the stock a “buy” rating in a report on Monday, July 17th. Finally, B. Riley cut Tyler Technologies from a “buy” rating to a “neutral” rating and set a $184.00 price target for the company. in a report on Friday, October 27th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Tyler Technologies presently has a consensus rating of “Buy” and a consensus target price of $193.00.

Tyler Technologies (NYSE:TYL) traded down 1.63% during trading on Wednesday, hitting $174.40. The company had a trading volume of 53,659 shares. The stock has a market capitalization of $6.51 billion, a PE ratio of 52.25 and a beta of 0.93. The stock has a 50-day moving average of $174.83 and a 200-day moving average of $171.28. Tyler Technologies has a one year low of $139.61 and a one year high of $183.98.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, October 25th. The technology company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.03. Tyler Technologies had a return on equity of 12.81% and a net margin of 16.34%. The company had revenue of $214.15 million during the quarter, compared to analysts’ expectations of $216.80 million. During the same quarter last year, the company earned $0.94 EPS. Tyler Technologies’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities analysts anticipate that Tyler Technologies will post $3.90 EPS for the current year.

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In other Tyler Technologies news, Director Luther King, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $176.95, for a total transaction of $265,425.00. Following the completion of the sale, the director now directly owns 72,864 shares in the company, valued at $12,893,284.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Larry D. Leinweber sold 19,021 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $170.18, for a total transaction of $3,236,993.78. The disclosure for this sale can be found here. Insiders have sold 208,857 shares of company stock valued at $35,702,014 over the last 90 days. Company insiders own 10.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of TYL. Teachers Advisors LLC lifted its position in Tyler Technologies by 2.5% during the first quarter. Teachers Advisors LLC now owns 47,646 shares of the technology company’s stock worth $7,364,000 after acquiring an additional 1,177 shares during the last quarter. Legal & General Group Plc lifted its position in Tyler Technologies by 129.3% during the first quarter. Legal & General Group Plc now owns 21,293 shares of the technology company’s stock worth $3,291,000 after acquiring an additional 12,006 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Tyler Technologies by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 130,988 shares of the technology company’s stock worth $20,245,000 after acquiring an additional 2,595 shares during the last quarter. Morgan Stanley lifted its position in Tyler Technologies by 24.5% during the first quarter. Morgan Stanley now owns 71,848 shares of the technology company’s stock worth $11,105,000 after acquiring an additional 14,119 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in Tyler Technologies by 10.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 94,071 shares of the technology company’s stock worth $14,540,000 after acquiring an additional 8,647 shares during the last quarter. Hedge funds and other institutional investors own 90.45% of the company’s stock.

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.

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