Tyler Technologies (NYSE:TYL) Sets New 52-Week High – Time to Buy?

Tyler Technologies, Inc. (NYSE:TYL)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $635.40 and last traded at $635.19, with a volume of 246743 shares changing hands. The stock had previously closed at $624.19.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $627.00 target price on shares of Tyler Technologies in a report on Friday, September 13th. Barclays lifted their target price on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. JMP Securities lifted their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research note on Friday, October 25th. StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Needham & Company LLC lifted their price objective on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Tyler Technologies has an average rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Stock Up 1.8 %

The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The stock’s fifty day simple moving average is $595.99 and its 200-day simple moving average is $553.15. The stock has a market capitalization of $27.19 billion, a PE ratio of 114.10, a P/E/G ratio of 5.52 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. During the same period in the prior year, the firm earned $1.66 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 7.36 EPS for the current fiscal year.

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $590.98, for a total value of $2,954,900.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $44,323,500. This trade represents a 6.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $586.97, for a total value of $1,467,425.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $7,014,291.50. The trade was a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,600 shares of company stock worth $16,412,595. 1.50% of the stock is currently owned by insiders.

Institutional Trading of Tyler Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of TYL. Independence Bank of Kentucky bought a new position in shares of Tyler Technologies during the second quarter valued at approximately $25,000. Ashton Thomas Securities LLC purchased a new position in shares of Tyler Technologies in the 3rd quarter worth about $27,000. Blue Trust Inc. raised its stake in shares of Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after purchasing an additional 56 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of Tyler Technologies during the second quarter valued at $38,000. Finally, International Assets Investment Management LLC bought a new stake in Tyler Technologies in the 2nd quarter worth about $61,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.