Tyler Technologies (NYSE:TYL) Stock Rating Lowered by Zacks Research

Zacks Research downgraded Tyler Technologies (NYSE:TYL) from "strong buy" to "hold," despite the broader analyst consensus remaining a "moderate buy" with an average price target of $456.72. The company reported quarterly EPS of $3.08, exceeding estimates, but revenue of $645.1 million, an 8.2% year-over-year increase, missed forecasts. Shares opened at $378.79 with a P/E ratio of 50.24, and COO Jeffrey Puckett sold 8,500 shares, reducing his position by over 52%.