JMP Securities Increases Tyler Technologies (NYSE:TYL) Price Target to $700.00

Tyler Technologies (NYSE:TYL) had its target price boosted by JMP Securities from $580.00 to $700.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “market outperform” rating on the technology company’s stock. JMP Securities’ price target suggests a potential upside of 15.54% from the company’s previous close.

TYL has been the topic of several other research reports. Oppenheimer raised their price objective on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday. Needham & Company LLC raised their price objective on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company raised their price objective on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Piper Sandler raised their price objective on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a report on Friday. Finally, BTIG Research raised their price objective on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Stock Down 0.9 %

Tyler Technologies stock opened at $605.86 on Friday. Tyler Technologies has a 1-year low of $361.16 and a 1-year high of $631.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market cap of $25.85 billion, a PE ratio of 125.18, a P/E/G ratio of 5.42 and a beta of 0.78. The stock’s fifty day moving average is $584.88 and its two-hundred day moving average is $527.40.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating 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 company had revenue of $543.34 million for the quarter, compared to analysts’ expectations of $547.34 million. During the same period last year, the firm earned $1.66 earnings per share. Tyler Technologies’s quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts expect that Tyler Technologies will post 7.21 EPS for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies 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 sale, the director now owns 3,218 shares of the company’s stock, 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 Tyler Technologies 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 sale, the director now owns 3,218 shares of the company’s stock, 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. Also, insider John S. Marr, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total value of $2,894,700.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at $4,042,738.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,375 shares of company stock valued at $17,049,739. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tyler Technologies

A number of institutional investors have recently added to or reduced their stakes in TYL. Independence Bank of Kentucky acquired a new stake in shares of Tyler Technologies during the 2nd quarter valued at approximately $25,000. Covestor Ltd lifted its position in shares of Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after acquiring an additional 43 shares during the period. Blue Trust Inc. lifted its position in shares of Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after acquiring an additional 56 shares during the period. Lynx Investment Advisory acquired a new stake in shares of Tyler Technologies during the 2nd quarter valued at approximately $38,000. Finally, Larson Financial Group LLC lifted its position in shares of Tyler Technologies by 675.0% during the 1st quarter. Larson Financial Group LLC now owns 93 shares of the technology company’s stock valued at $40,000 after acquiring an additional 81 shares during the period. Hedge funds and other 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.