Tyler Technologies (NYSE:TYL) PT Raised to $705.00

by · The Cerbat Gem

Tyler Technologies (NYSE:TYL – Free Report) had its price target increased by Barclays from $700.00 to $705.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

A number of other brokerages also recently weighed in on TYL. Needham & Company LLC increased their price target on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. JMP Securities boosted their price target on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research note on Friday. BTIG Research increased their price target on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a report on Friday, July 26th. DA Davidson lifted their price objective on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Piper Sandler increased their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Get Our Latest Analysis on TYL

Tyler Technologies Price Performance

Tyler Technologies stock opened at $605.39 on Friday. The firm has a market cap of $25.91 billion, a P/E ratio of 110.47, a P/E/G ratio of 5.53 and a beta of 0.78. The stock’s 50 day moving average is $585.40 and its 200 day moving average is $529.57. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. Tyler Technologies has a one year low of $362.50 and a one year high of $631.43.

Tyler Technologies (NYSE:TYL – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $547.34 million. During the same quarter in the previous year, the company earned $1.66 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, research analysts expect that Tyler Technologies will post 7.3 EPS for the current year.

Insider Activity at Tyler Technologies

In related news, CFO Brian K. Miller sold 2,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $567.96, for a total value of $1,135,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at approximately $6,787,122. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were 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 of the company’s stock, valued at approximately $7,014,291.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 2,000 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $567.96, for a total transaction of $1,135,920.00. Following the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $6,787,122. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,100 shares of company stock valued at $16,890,717 over the last 90 days. Insiders own 1.50% of the company’s stock.

Institutional Trading of Tyler Technologies

A number of institutional investors and hedge funds have recently modified their holdings of TYL. Independence Bank of Kentucky bought a new position in Tyler Technologies in the 2nd quarter valued at $25,000. Covestor Ltd boosted its holdings in shares of Tyler Technologies by 153.6% in the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after buying an additional 43 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Tyler Technologies by 329.4% in the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after buying an additional 56 shares during the last quarter. Lynx Investment Advisory bought a new position in Tyler Technologies during the second quarter valued at about $38,000. Finally, Larson Financial Group LLC increased its holdings in Tyler Technologies by 675.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the technology company’s stock worth $40,000 after buying an additional 81 shares during the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Company Profile

(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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