Tyler Technologies (TYL) Lifted to “Buy” at ValuEngine
ValuEngine upgraded shares of Tyler Technologies (NYSE:TYL) from a hold rating to a buy rating in a research report sent to investors on Friday.
Several other analysts have also issued reports on TYL. Zacks Investment Research upgraded Tyler Technologies from a hold rating to a buy rating and set a $236.00 target price on the stock in a report on Saturday, October 27th. JMP Securities dropped their target price on Tyler Technologies from $250.00 to $245.00 and set a market outperform rating on the stock in a report on Thursday, November 1st. KeyCorp reiterated a hold rating on shares of Tyler Technologies in a report on Friday, November 2nd. Robert W. Baird dropped their target price on Tyler Technologies from $260.00 to $250.00 and set an outperform rating on the stock in a report on Friday, November 2nd. Finally, TheStreet lowered Tyler Technologies from a b rating to a c+ rating in a research note on Thursday, November 1st. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $233.36.
TYL opened at $208.20 on Friday. Tyler Technologies has a 52-week low of $173.26 and a 52-week high of $252.47. The stock has a market cap of $8.08 billion, a P/E ratio of 65.47, a P/E/G ratio of 4.58 and a beta of 0.81.
A number of large investors have recently added to or reduced their stakes in TYL. BlackRock Inc. increased its stake in shares of Tyler Technologies by 8.9% during the fourth quarter. BlackRock Inc. now owns 3,716,871 shares of the technology company’s stock worth $690,669,000 after purchasing an additional 303,947 shares during the period. Mackenzie Financial Corp bought a new position in shares of Tyler Technologies during the fourth quarter worth approximately $29,035,000. Creative Planning increased its stake in shares of Tyler Technologies by 4,621.9% during the third quarter. Creative Planning now owns 143,923 shares of the technology company’s stock worth $35,270,000 after purchasing an additional 140,875 shares during the period. Waratah Capital Advisors Ltd. bought a new position in shares of Tyler Technologies during the fourth quarter worth approximately $21,653,000. Finally, Conestoga Capital Advisors LLC increased its stake in shares of Tyler Technologies by 55.9% during the fourth quarter. Conestoga Capital Advisors LLC now owns 301,309 shares of the technology company’s stock worth $55,989,000 after purchasing an additional 108,010 shares during the period. Hedge funds and other institutional investors own 91.41% of the company’s stock.
Tyler Technologies Company Profile
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. It operates through two segments, Enterprise Software, and Appraisal and Tax. The company's financial management solutions include modular fund accounting systems for government agencies or not-for-profit entities; and utility billing systems for the billing and collection of metered and non-metered services.
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