Piper Sandler Raises Tyler Technologies (NYSE:TYL) Price Target to $747.00

Tyler Technologies (NYSE:TYL) had its price objective hoisted by Piper Sandler from $701.00 to $747.00 in a research report report published on Friday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other research analysts also recently issued reports on the company. Barclays upped their price target on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Robert W. Baird upped their price objective on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. DA Davidson reiterated a “neutral” rating and set a $575.00 price objective on shares of Tyler Technologies in a research report on Thursday, January 30th. StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Truist Financial reiterated a “buy” rating and set a $685.00 price objective (up previously from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $667.83.

Tyler Technologies Trading Down 0.7 %

Shares of NYSE:TYL opened at $642.39 on Friday. The company has a market cap of $27.49 billion, a P/E ratio of 117.22, a PEG ratio of 4.78 and a beta of 0.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. Tyler Technologies has a 1 year low of $397.80 and a 1 year high of $661.31. The stock’s fifty day moving average price is $596.21 and its 200-day moving average price is $594.48.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Sell-side analysts expect that Tyler Technologies will post 7.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the completion of the sale, the insider now owns 6,983 shares in the company, valued at approximately $4,424,079.65. This trade represents a 46.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $632.01, for a total value of $1,580,025.00. Following the sale, the chief financial officer now owns 12,198 shares of the company’s stock, valued at $7,709,257.98. This represents a 17.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock worth $18,941,368 over the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Tyler Technologies

Several institutional investors have recently made changes to their positions in the business. Wahed Invest LLC grew its position in shares of Tyler Technologies by 5.2% during the fourth quarter. Wahed Invest LLC now owns 1,081 shares of the technology company’s stock worth $623,000 after purchasing an additional 53 shares in the last quarter. Bwcp LP grew its position in shares of Tyler Technologies by 47.1% during the fourth quarter. Bwcp LP now owns 25,276 shares of the technology company’s stock worth $14,575,000 after purchasing an additional 8,094 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Tyler Technologies by 24.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,173 shares of the technology company’s stock worth $1,253,000 after purchasing an additional 429 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Tyler Technologies during the fourth quarter worth about $27,488,000. Finally, Freestone Grove Partners LP purchased a new stake in shares of Tyler Technologies during the fourth quarter worth about $607,000. Hedge funds and other 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.