Tyler Technologies (NYSE:TYL) Given New $700.00 Price Target at Oppenheimer

Tyler Technologies (NYSE:TYL) had its target price increased by Oppenheimer from $625.00 to $700.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other analysts have also weighed in on the company. Evercore ISI upgraded Tyler Technologies to a “hold” rating in a report on Friday, July 26th. JMP Securities raised their price objective on shares of Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a research report on Monday, July 22nd. Truist Financial reaffirmed a “buy” rating and issued a $600.00 price objective (up previously from $560.00) on shares of Tyler Technologies in a research note on Friday, July 26th. Wells Fargo & Company increased their target price on shares of Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, BTIG Research lifted their price target on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Price Performance

Shares of TYL opened at $605.86 on Friday. Tyler Technologies has a one year low of $361.16 and a one year high of $631.43. The stock’s fifty day moving average is $584.88 and its 200-day moving average is $528.21. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $25.72 billion, a price-to-earnings ratio of 137.07, a price-to-earnings-growth ratio of 5.42 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The company had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. Tyler Technologies’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.66 EPS. Equities analysts anticipate that Tyler Technologies will post 7.21 EPS for the current year.

Insider Transactions at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,042,738.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider John S. Marr, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,042,738.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $43,236,750. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,100 shares of company stock valued at $16,890,717 over the last three months. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tyler Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TYL. Waldron Private Wealth LLC grew its position in Tyler Technologies by 3.5% in the second quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock worth $360,000 after acquiring an additional 24 shares in the last quarter. Industrial Alliance Investment Management Inc. boosted its holdings in Tyler Technologies by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company’s stock worth $295,000 after purchasing an additional 29 shares in the last quarter. George Kaiser Family Foundation increased its position in Tyler Technologies by 0.7% during the second quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock worth $2,100,000 after buying an additional 29 shares during the last quarter. UMB Bank n.a. raised its holdings in Tyler Technologies by 2.4% during the third quarter. UMB Bank n.a. now owns 1,354 shares of the technology company’s stock valued at $790,000 after buying an additional 32 shares in the last quarter. Finally, Torray Investment Partners LLC raised its holdings in Tyler Technologies by 0.3% during the second quarter. Torray Investment Partners LLC now owns 11,010 shares of the technology company’s stock valued at $5,536,000 after buying an additional 33 shares in the last quarter. Institutional investors 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.