DA Davidson Increases Tyler Technologies (NYSE:TYL) Price Target to $550.00

Tyler Technologies (NYSE:TYL) had its price objective boosted by DA Davidson from $525.00 to $550.00 in a research note published on Thursday morning, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other brokerages have also issued reports on TYL. Evercore ISI raised Tyler Technologies to a “hold” rating in a report on Friday, July 26th. Barclays raised Tyler Technologies from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $577.00 to $700.00 in a research note on Monday, October 7th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $627.00 target price on shares of Tyler Technologies in a report on Friday, September 13th. Oppenheimer boosted their price objective on Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company raised their target price on shares of Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $593.69.

Tyler Technologies Stock Performance

TYL stock opened at $588.43 on Thursday. Tyler Technologies has a 1 year low of $361.16 and a 1 year high of $606.93. The stock has a market capitalization of $24.98 billion, a price-to-earnings ratio of 133.13, a PEG ratio of 5.55 and a beta of 0.78. 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 stock’s fifty day moving average is $583.57 and its two-hundred day moving average is $521.95.

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

Insiders Place Their Bets

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $590.98, for a total value of $2,954,900.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $44,323,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Brian K. Miller sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $567.96, for a total value of $1,135,920.00. Following the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $6,787,122. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $590.98, for a total transaction of $2,954,900.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $44,323,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,375 shares of company stock valued at $17,049,739 over the last three months. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tyler Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in TYL. Swedbank AB bought a new stake in Tyler Technologies during the 2nd quarter valued at approximately $251,390,000. Janus Henderson Group PLC lifted its holdings in shares of Tyler Technologies by 15.3% during the first quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock worth $226,501,000 after buying an additional 70,801 shares during the last quarter. Quantum Capital Management LLC NJ boosted its position in shares of Tyler Technologies by 179.4% in the first quarter. Quantum Capital Management LLC NJ now owns 107,760 shares of the technology company’s stock valued at $45,799,000 after acquiring an additional 69,189 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Tyler Technologies by 18.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 424,982 shares of the technology company’s stock worth $180,622,000 after acquiring an additional 65,814 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in Tyler Technologies by 6.3% during the first quarter. Van ECK Associates Corp now owns 922,942 shares of the technology company’s stock worth $392,259,000 after acquiring an additional 54,926 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

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.