Tyler Technologies (NYSE:TYL) PT Raised to $705.00 at Barclays

Tyler Technologies (NYSE:TYL) had its price objective boosted by equities researchers at Barclays from $700.00 to $705.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s target price would suggest a potential upside of 16.36% from the company’s current price.

Several other research firms also recently weighed in on TYL. Wells Fargo & Company upped their price target on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Piper Sandler raised their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research note on Friday. BTIG Research boosted their price target on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. The Goldman Sachs Group reissued a “buy” rating and set a $627.00 price objective on shares of Tyler Technologies in a report on Friday, September 13th. Finally, Evercore ISI raised Tyler Technologies to a “hold” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $642.62.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $605.86 on Friday. The stock has a market cap of $25.85 billion, a PE ratio of 125.18, a price-to-earnings-growth ratio of 5.42 and a beta of 0.78. Tyler Technologies has a 1 year low of $361.16 and a 1 year high of $631.43. The firm has a fifty day moving average price of $584.88 and a 200-day moving average price of $527.40. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 1.06.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The business had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. During the same quarter in the prior year, the business posted $1.66 EPS. Tyler Technologies’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities analysts anticipate that Tyler Technologies will post 7.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other news, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $578.26, for a total value of $159,021.50. Following the completion of the transaction, the director now owns 3,218 shares in the company, valued at approximately $1,860,840.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $576.62, for a total value of $2,883,100.00. Following the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $43,246,500. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the transaction, the director now directly owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,375 shares of company stock worth $17,049,739 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

Several institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Tyler Technologies by 64.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,032 shares of the technology company’s stock worth $864,000 after acquiring an additional 798 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Tyler Technologies by 18.5% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 101,435 shares of the technology company’s stock worth $43,111,000 after purchasing an additional 15,871 shares during the last quarter. Wasatch Advisors LP boosted its stake in shares of Tyler Technologies by 68.0% during the first quarter. Wasatch Advisors LP now owns 2,982 shares of the technology company’s stock valued at $1,267,000 after purchasing an additional 1,207 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of Tyler Technologies by 119.2% in the first quarter. Commonwealth Equity Services LLC now owns 6,517 shares of the technology company’s stock worth $2,770,000 after purchasing an additional 3,544 shares during the last quarter. Finally, HB Wealth Management LLC increased its stake in Tyler Technologies by 4.5% in the 1st quarter. HB Wealth Management LLC now owns 840 shares of the technology company’s stock worth $357,000 after buying an additional 36 shares during the period. Institutional investors 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.