Tyler Technologies (NYSE:TYL) Shares Up 4%

Tyler Technologies, Inc. (NYSE:TYL) shot up 4% on Tuesday . The stock traded as high as $519.44 and last traded at $519.44. 11,569 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 220,492 shares. The stock had previously closed at $499.52.

Analyst Ratings Changes

Several brokerages have recently weighed in on TYL. Oppenheimer increased their price target on Tyler Technologies from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday, May 22nd. Needham & Company LLC raised their price objective on Tyler Technologies from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. BTIG Research raised their price objective on Tyler Technologies from $515.00 to $550.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Piper Sandler restated an “overweight” rating and set a $520.00 price objective on shares of Tyler Technologies in a report on Wednesday, April 24th. Finally, Robert W. Baird raised their price objective on Tyler Technologies from $500.00 to $525.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $519.09.

Tyler Technologies Price Performance

The stock has a fifty day moving average price of $481.96 and a 200-day moving average price of $443.58. The firm has a market capitalization of $21.57 billion, a PE ratio of 114.91, a P/E/G ratio of 4.78 and a beta of 0.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.26. The business had revenue of $512.36 million for the quarter, compared to the consensus estimate of $507.79 million. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. Sell-side analysts forecast that Tyler Technologies, Inc. will post 7.1 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was 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 of the company’s stock, valued at approximately $3,374,255.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was 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 of the company’s stock, valued at approximately $3,374,255.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $481.83, for a total value 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 disclosure for this sale can be found here. Insiders sold 26,241 shares of company stock valued at $12,495,890 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Tyler Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda acquired a new stake in Tyler Technologies during the 4th quarter worth about $26,000. Covestor Ltd lifted its position in 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 acquiring an additional 43 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Tyler Technologies during the 4th quarter worth about $31,000. Headlands Technologies LLC acquired a new stake in Tyler Technologies during the 4th quarter worth about $40,000. Finally, Larson Financial Group LLC lifted its position in Tyler Technologies by 675.0% during the 1st quarter. Larson Financial Group LLC now owns 93 shares of the technology company’s stock worth $40,000 after acquiring an additional 81 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

About Tyler Technologies

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.