Tyler Technologies, Inc. (NYSE:TYL) Receives $642.62 Average PT from Analysts

Tyler Technologies, Inc. (NYSE:TYL) has received an average rating of “Moderate Buy” from the fourteen brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $642.62.

A number of equities analysts recently commented on the company. Piper Sandler increased their price target on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Barclays boosted their price target on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Oppenheimer lifted their price target on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. JMP Securities upped their price objective on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC boosted their target price on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd.

Insider Activity at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 12,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. The trade was a 63.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $624.41, for a total value of $1,561,025.00. Following the completion of the transaction, the chief financial officer now owns 11,950 shares in the company, valued at $7,461,699.50. This trade represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,252 shares of company stock worth $26,096,928 over the last three months. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TYL. GAMMA Investing LLC raised its position in Tyler Technologies by 36.8% during the 4th quarter. GAMMA Investing LLC now owns 1,520 shares of the technology company’s stock worth $876,000 after buying an additional 409 shares during the last quarter. JPMorgan Chase & Co. raised its position in Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after acquiring an additional 275,511 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Tyler Technologies by 2.0% during the 3rd quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock worth $547,354,000 after purchasing an additional 17,943 shares during the period. Tidal Investments LLC grew its stake in shares of Tyler Technologies by 11.2% during the 3rd quarter. Tidal Investments LLC now owns 2,412 shares of the technology company’s stock worth $1,408,000 after purchasing an additional 243 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Tyler Technologies in the 3rd quarter valued at $651,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Stock Up 1.7 %

TYL stock opened at $584.17 on Wednesday. The business’s 50-day moving average price is $608.52 and its 200-day moving average price is $577.41. The stock has a market cap of $25.00 billion, a P/E ratio of 106.60, a PEG ratio of 5.54 and a beta of 0.76. Tyler Technologies has a twelve month low of $397.80 and a twelve month high of $638.56. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The company had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. During the same quarter last year, the company earned $1.66 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities research analysts forecast that Tyler Technologies will post 7.36 EPS for the current year.

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.