Tyler Technologies (NYSE:TYL) Price Target Raised to $525.00

Tyler Technologies (NYSE:TYL) had its price target upped by DA Davidson from $456.00 to $525.00 in a report published on Friday, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company raised their price objective on Tyler Technologies from $580.00 to $600.00 and gave the stock an overweight rating in a report on Friday. Piper Sandler raised their price objective on Tyler Technologies from $529.00 to $625.00 and gave the stock an overweight rating in a report on Friday. JMP Securities raised their price target on Tyler Technologies from $490.00 to $580.00 and gave the stock a market outperform rating in a report on Monday, July 22nd. Oppenheimer raised their price target on Tyler Technologies from $550.00 to $625.00 and gave the stock an outperform rating in a report on Friday. Finally, BTIG Research raised their price target on Tyler Technologies from $515.00 to $550.00 and gave the stock a buy rating in a report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $582.31.

Tyler Technologies Stock Up 4.7 %

NYSE:TYL opened at $590.65 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average is $499.37 and its two-hundred day moving average is $457.35. Tyler Technologies has a 52 week low of $361.16 and a 52 week high of $593.50. The stock has a market capitalization of $25.08 billion, a price-to-earnings ratio of 133.63, a price-to-earnings-growth ratio of 5.54 and a beta of 0.76.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.06. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The business had revenue of $540.98 million for the quarter, compared to analysts’ expectations of $541.01 million. During the same period last year, the firm earned $1.53 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Research analysts anticipate that Tyler Technologies will post 6.5 EPS for the current year.

Insider Activity

In related news, CFO Brian K. Miller sold 2,671 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $465.03, for a total value of $1,242,095.13. Following the completion of the sale, the chief financial officer now directly owns 13,536 shares of the company’s stock, valued at approximately $6,294,646.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO H Lynn Moore, Jr. sold 5,250 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $481.83, for a total transaction of $2,529,607.50. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $36,137,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 2,671 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $465.03, for a total value of $1,242,095.13. Following the transaction, the chief financial officer now directly owns 13,536 shares in the company, valued at approximately $6,294,646.08. The disclosure for this sale can be found here. Insiders sold a total of 21,241 shares of company stock valued at $10,201,740 over the last three months. Insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Independence Bank of Kentucky acquired a new stake in Tyler Technologies in the 2nd quarter valued at approximately $25,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Tyler Technologies during the 4th quarter worth approximately $26,000. Covestor Ltd grew its holdings in shares of Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after purchasing an additional 43 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Tyler Technologies during the 4th quarter worth approximately $31,000. Finally, Blue Trust Inc. grew its holdings in shares of Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Company Profile

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.