Tyler Technologies, Inc. (TYL) Receives Average Recommendation of “Buy” from Brokerages
Tyler Technologies, Inc. (NYSE:TYL) has been assigned a consensus rating of “Buy” from the nine research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $193.50.
Several equities analysts have weighed in on TYL shares. Needham & Company LLC restated a “buy” rating on shares of Tyler Technologies in a report on Tuesday, October 24th. KeyCorp reiterated a “buy” rating and issued a $180.00 target price on shares of Tyler Technologies in a report on Friday, October 6th. Citigroup started coverage on Tyler Technologies in a report on Friday, September 22nd. They issued a “buy” rating and a $200.00 target price for the company. Northland Securities reiterated a “buy” rating and issued a $200.00 target price on shares of Tyler Technologies in a report on Thursday, September 21st. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $200.00 target price on shares of Tyler Technologies in a report on Sunday, August 27th.
Tyler Technologies (NYSE TYL) opened at $181.96 on Thursday. The firm has a market capitalization of $6,901.64, a P/E ratio of 56.35 and a beta of 0.97. Tyler Technologies has a 1-year low of $139.61 and a 1-year high of $188.21.
In related news, Director Luther King, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was 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 of the company’s stock, valued at approximately $12,893,284.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian K. Miller sold 5,000 shares of Tyler Technologies stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $171.63, for a total value of $858,150.00. Following the sale, the vice president now directly owns 53,194 shares of the company’s stock, valued at $9,129,686.22. The disclosure for this sale can be found here. Insiders have sold a total of 241,781 shares of company stock valued at $42,884,892 over the last three months. 10.30% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Zions Bancorporation bought a new stake in Tyler Technologies during the 3rd quarter valued at $156,000. Lakeview Capital Partners LLC bought a new stake in Tyler Technologies during the 2nd quarter valued at $211,000. CIBC Asset Management Inc bought a new stake in Tyler Technologies during the 3rd quarter valued at $218,000. D.A. Davidson & CO. raised its position in Tyler Technologies by 13.3% during the 2nd quarter. D.A. Davidson & CO. now owns 1,391 shares of the technology company’s stock valued at $244,000 after purchasing an additional 163 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Tyler Technologies by 8.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,412 shares of the technology company’s stock valued at $248,000 after purchasing an additional 114 shares in the last quarter. 93.34% of the stock is owned by institutional investors and hedge funds.
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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