DA Davidson Reaffirms “Buy” Rating for Tyler Technologies (NYSE:TYL)

Tyler Technologies (NYSE:TYL)‘s stock had its “buy” rating reissued by equities research analysts at DA Davidson in a note issued to investors on Tuesday,Benzinga reports. They presently have a $460.00 price target on the technology company’s stock. DA Davidson’s target price would suggest a potential upside of 44.95% from the stock’s current price.

TYL has been the topic of a number of other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Tyler Technologies in a research note on Friday, January 9th. Cantor Fitzgerald reiterated a “neutral” rating and set a $325.00 target price on shares of Tyler Technologies in a research report on Friday, February 13th. Piper Sandler reissued an “overweight” rating and issued a $543.00 price target (down from $671.00) on shares of Tyler Technologies in a report on Friday, February 13th. Wells Fargo & Company decreased their price target on Tyler Technologies from $420.00 to $335.00 and set an “equal weight” rating on the stock in a research note on Friday, February 13th. Finally, TD Cowen reduced their target price on Tyler Technologies from $600.00 to $500.00 and set a “buy” rating for the company in a report on Friday, February 13th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Tyler Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $467.54.

Tyler Technologies Trading Up 1.6%

NYSE:TYL opened at $317.35 on Tuesday. The firm has a market cap of $13.66 billion, a P/E ratio of 44.08, a PEG ratio of 2.09 and a beta of 0.91. The stock’s 50 day simple moving average is $414.48 and its 200-day simple moving average is $480.54. Tyler Technologies has a 12-month low of $283.71 and a 12-month high of $647.11.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.07). The company had revenue of $575.18 million for the quarter, compared to analyst estimates of $591.09 million. Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.Tyler Technologies’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.43 earnings per share. Research analysts forecast that Tyler Technologies will post 8.52 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In related news, CFO Brian K. Miller sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $469.08, for a total value of $469,080.00. Following the completion of the transaction, the chief financial officer owned 12,781 shares of the company’s stock, valued at approximately $5,995,311.48. The trade was a 7.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Glenn A. Carter sold 500 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $458.73, for a total transaction of $229,365.00. Following the completion of the transaction, the director owned 3,172 shares in the company, valued at approximately $1,455,091.56. This trade represents a 13.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 3,500 shares of company stock valued at $1,605,605. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Tyler Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TYL. Salomon & Ludwin LLC lifted its holdings in shares of Tyler Technologies by 6,100.0% during the 4th quarter. Salomon & Ludwin LLC now owns 62 shares of the technology company’s stock valued at $27,000 after acquiring an additional 61 shares in the last quarter. DV Equities LLC purchased a new position in Tyler Technologies in the fourth quarter valued at about $27,000. Root Financial Partners LLC acquired a new position in shares of Tyler Technologies during the third quarter worth about $28,000. Elyxium Wealth LLC acquired a new stake in shares of Tyler Technologies in the fourth quarter valued at about $29,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Tyler Technologies during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Company Profile

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.