Barclays Boosts Tyler Technologies (NYSE:TYL) Price Target to $577.00

Tyler Technologies (NYSE:TYL) had its price target boosted by Barclays from $515.00 to $577.00 in a report issued on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the technology company’s stock.

TYL has been the subject of several other reports. BTIG Research increased their price objective on Tyler Technologies from $515.00 to $550.00 and gave the company a buy rating in a research report on Wednesday, May 22nd. JMP Securities increased their price target on shares of Tyler Technologies from $490.00 to $580.00 and gave the company a market outperform rating in a report on Monday, July 22nd. The Goldman Sachs Group raised their price target on shares of Tyler Technologies from $515.00 to $627.00 and gave the stock a buy rating in a research report on Friday. Piper Sandler upped their price objective on shares of Tyler Technologies from $529.00 to $625.00 and gave the company an overweight rating in a research report on Friday. Finally, Truist Financial reissued a buy rating and set a $600.00 target price (up from $560.00) on shares of Tyler Technologies in a research report on Friday. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $582.31.

Tyler Technologies Stock Performance

NYSE:TYL opened at $576.99 on Friday. The firm has a market capitalization of $24.50 billion, a PE ratio of 130.54, a PEG ratio of 6.06 and a beta of 0.76. Tyler Technologies has a 1 year low of $361.16 and a 1 year high of $593.50. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The firm’s fifty day simple moving average is $501.04 and its 200 day simple moving average is $458.42.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results 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 company had revenue of $540.98 million for the quarter, compared to the consensus estimate of $541.01 million. During the same period last year, the business posted $1.53 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Tyler Technologies will post 6.5 EPS for the current year.

Insider Buying and Selling

In other news, CFO Brian K. Miller sold 2,671 shares of Tyler Technologies stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 13,536 shares in the company, valued at $6,294,646.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $483.21, for a total value of $2,899,260.00. Following the completion of the sale, the insider now owns 6,983 shares in the company, valued at approximately $3,374,255.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian K. Miller sold 2,671 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $465.03, for a total transaction of $1,242,095.13. Following the completion of the transaction, the chief financial officer now owns 13,536 shares of the company’s stock, valued at approximately $6,294,646.08. The disclosure for this sale can be found here. Insiders sold 21,241 shares of company stock worth $10,201,740 in the last quarter. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tyler Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC increased its holdings in Tyler Technologies by 41,712.0% in the fourth quarter. International Assets Investment Management LLC now owns 52,265 shares of the technology company’s stock valued at $21,853,000 after purchasing an additional 52,140 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Tyler Technologies by 119.2% during the first quarter. Commonwealth Equity Services LLC now owns 6,517 shares of the technology company’s stock worth $2,770,000 after buying an additional 3,544 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Tyler Technologies by 39.4% during the 1st quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock worth $2,906,000 after buying an additional 1,935 shares during the period. Rafferty Asset Management LLC increased its stake in shares of Tyler Technologies by 26.8% in the 4th quarter. Rafferty Asset Management LLC now owns 13,972 shares of the technology company’s stock valued at $5,842,000 after acquiring an additional 2,951 shares during the last quarter. Finally, APG Asset Management US Inc. acquired a new stake in shares of Tyler Technologies in the 4th quarter valued at approximately $57,493,000. 93.30% of the stock is owned by institutional investors.

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.