Tyler Technologies (NYSE:TYL) Rating Reiterated by The Goldman Sachs Group

The Goldman Sachs Group reiterated their buy rating on shares of Tyler Technologies (NYSE:TYL) in a report issued on Friday morning, Benzinga reports. The brokerage currently has a $627.00 target price on the technology company’s stock.

A number of other brokerages have also recently issued reports on TYL. Loop Capital increased their price objective on Tyler Technologies from $485.00 to $530.00 and gave the stock a buy rating in a report on Tuesday, May 21st. DA Davidson increased their price objective on Tyler Technologies from $456.00 to $525.00 and gave the stock a neutral rating in a report on Friday, July 26th. Needham & Company LLC reissued a buy rating and set a $600.00 price objective on shares of Tyler Technologies in a report on Thursday, July 25th. Truist Financial reissued a buy rating and set a $600.00 price objective (up previously from $560.00) on shares of Tyler Technologies in a report on Friday, July 26th. Finally, Piper Sandler increased their price objective on Tyler Technologies from $529.00 to $625.00 and gave the stock an overweight rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $582.31.

Tyler Technologies Stock Up 0.6 %

Shares of NYSE TYL opened at $585.73 on Friday. Tyler Technologies has a one year low of $361.16 and a one year high of $598.93. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 1.06. The business’s fifty day moving average price is $564.01 and its 200-day moving average price is $493.33. The stock has a market capitalization of $24.99 billion, a PE ratio of 132.52, a P/E/G ratio of 5.39 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.06. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The firm had revenue of $540.98 million for the quarter, compared to analysts’ expectations of $541.01 million. During the same quarter in the prior year, the firm earned $1.53 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts anticipate that Tyler Technologies will post 7.21 EPS for the current year.

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of the 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 transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $43,236,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Daniel M. Pope sold 275 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the transaction, the director now directly owns 3,218 shares in the company, valued at approximately $1,860,840.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total value of $3,603,062.50. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $43,236,750. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,375 shares of company stock worth $17,049,739. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tyler Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Independence Bank of Kentucky purchased a new stake in Tyler Technologies in the 2nd quarter worth approximately $25,000. Kapitalo Investimentos Ltda purchased a new stake in Tyler Technologies in the 4th quarter worth approximately $26,000. Covestor Ltd lifted its holdings in 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 period. Blue Trust Inc. lifted its holdings in 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 period. Finally, Lynx Investment Advisory purchased a new position in shares of Tyler Technologies in the 2nd quarter valued at approximately $38,000. 93.30% of the stock is currently 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.