Tyler Technologies (NYSE:TYL) PT Raised to $700.00

by · The Cerbat Gem

Tyler Technologies (NYSE:TYL – Get Free Report) had its price objective hoisted by Robert W. Baird from $625.00 to $700.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s target price would indicate a potential upside of 15.54% from the stock’s current price.

A number of other research firms have also recently commented on TYL. DA Davidson upped their price target on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Barclays raised shares of Tyler Technologies from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $577.00 to $700.00 in a research report on Monday, October 7th. Piper Sandler boosted their price target on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a report on Friday. Evercore ISI raised Tyler Technologies to a “hold” rating in a research note on Friday, July 26th. Finally, Needham & Company LLC lifted their target price on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $642.62.

Read Our Latest Stock Analysis on TYL

Tyler Technologies Price Performance

Tyler Technologies stock opened at $605.86 on Friday. Tyler Technologies has a 12-month low of $361.16 and a 12-month high of $631.43. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $584.88 and a 200-day moving average price of $527.40. The firm has a market capitalization of $25.72 billion, a PE ratio of 137.07, a price-to-earnings-growth ratio of 5.42 and a beta of 0.78.

Tyler Technologies (NYSE:TYL – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The business had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. During the same quarter in the previous year, the business earned $1.66 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities research analysts forecast that Tyler Technologies will post 7.21 EPS for the current year.

Insider Activity

In related news, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,042,738.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $43,236,750. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,042,738.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,375 shares of company stock worth $17,049,739. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its position in shares of Tyler Technologies by 64.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,032 shares of the technology company’s stock valued at $864,000 after acquiring an additional 798 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in shares of Tyler Technologies by 18.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 101,435 shares of the technology company’s stock worth $43,111,000 after purchasing an additional 15,871 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of Tyler Technologies by 68.0% during the first quarter. Wasatch Advisors LP now owns 2,982 shares of the technology company’s stock worth $1,267,000 after purchasing an additional 1,207 shares during the period. Commonwealth Equity Services LLC boosted its position in Tyler Technologies by 119.2% in the first quarter. Commonwealth Equity Services LLC now owns 6,517 shares of the technology company’s stock valued at $2,770,000 after buying an additional 3,544 shares during the last quarter. Finally, HB Wealth Management LLC increased its holdings in Tyler Technologies by 4.5% in the 1st quarter. HB Wealth Management LLC now owns 840 shares of the technology company’s stock worth $357,000 after buying an additional 36 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

About Tyler Technologies

(Get Free Report)

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.

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