GTY Technology Holdings Inc. [GTYH] stock Initiated by DA Davidson analyst, price target now $10



GTY Technology Holdings Inc. [NASDAQ: GTYH] closed the trading session at $6.09 on 04/29/22. The day’s price range saw the stock hit a low of $6.05, while the highest price level was $6.20. The company report on April 29, 2022 that GTY Technology Holdings Inc. Enters Agreement to be Acquired by GI Partners.

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Upon closing, GTY Technology Holdings Inc. will operate as a privately held company with a continued focus on providing cloud software solutions for the public sector.

GTY Technology Holdings Inc. (NASDAQ: GTYH) (“GTY” or the “Company”), a leading provider of cloud software solutions for the public sector, today announced it has entered into a definitive agreement to be acquired by GI Partners (“GI”), a leading private investment firm. Upon completion of the transaction, GTY will become a privately held company.

The stocks have a year to date performance of -9.10 percent and weekly performance of 130.68 percent. The stock has been moved at -18.58 percent over the last six months. The stock has performed 80.18 percent around the most recent 30 days and changed 24.80 percent over the most recent 3-months.

If compared to the average trading volume of 134.03K shares, GTYH reached to a volume of 18393473 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about GTY Technology Holdings Inc. [GTYH]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GTYH shares is $7.77 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GTYH stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

DA Davidson have made an estimate for GTY Technology Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 12, 2021. While these analysts kept the previous recommendation, Craig Hallum raised their target price to Buy. The new note on the price target was released on December 18, 2020, representing the official price target for GTY Technology Holdings Inc. stock. Previously, the target price had yet another raise to $7, while Citigroup analysts kept a Neutral rating on GTYH stock.

The Average True Range (ATR) for GTY Technology Holdings Inc. is set at 0.46, with the Price to Sales ratio for GTYH stock in the period of the last 12 months amounting to 2.78. The Price to Book ratio for the last quarter was 1.31, with the Price to Cash per share for the same quarter was set at 0.48.

GTYH stock trade performance evaluation

GTY Technology Holdings Inc. [GTYH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 130.68. With this latest performance, GTYH shares gained by 80.18% in over the last four-week period, additionally sinking by -18.58% over the last 6 months – not to mention a rise of 19.41% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GTYH stock in for the last two-week period is set at 81.61, with the RSI for the last a single of trading hit 88.16, and the three-weeks RSI is set at 75.21 for GTY Technology Holdings Inc. [GTYH]. The present Moving Average for the last 50 days of trading for this stock 3.53, while it was recorded at 3.39 for the last single week of trading, and 5.97 for the last 200 days.

GTY Technology Holdings Inc. [GTYH]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and GTY Technology Holdings Inc. [GTYH] shares currently have an operating margin of -48.10 and a Gross Margin at +38.88. GTY Technology Holdings Inc.’s Net Margin is presently recorded at -89.04.

Return on Equity for this stock declined to -18.67, with Return on Assets sitting at -12.74.

GTY Technology Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.

GTY Technology Holdings Inc. [GTYH]: Insider Ownership positions

There are presently around $163 million, or 49.00% of GTYH stock, in the hands of institutional investors. The top three institutional holders of GTYH stocks are: CONIFER MANAGEMENT, L.L.C. with ownership of 5,876,987, which is approximately 0% of the company’s market cap and around 4.80% of the total institutional ownership; VANGUARD GROUP INC, holding 2,330,740 shares of the stock with an approximate value of $14.19 million in GTYH stocks shares; and WASATCH ADVISORS INC, currently with $11.32 million in GTYH stock with ownership of nearly 23.938% of the company’s market capitalization.

Positions in GTY Technology Holdings Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 29 institutional holders increased their position in GTY Technology Holdings Inc. [NASDAQ:GTYH] by around 2,131,436 shares. Additionally, 25 investors decreased positions by around 1,399,552 shares, while 15 investors held positions by with 23,251,900 shares. The mentioned changes placed institutional holdings at 26,782,888 shares, according to the latest SEC report filing. GTYH stock had 5 new institutional investments in for a total of 404,907 shares, while 5 institutional investors sold positions of 196,561 shares during the same period.