Piper Sandler Raises Tyler Technologies (NYSE:TYL) Price Target to $701.00

Tyler Technologies (NYSE:TYL) had its price target boosted by Piper Sandler from $625.00 to $701.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other research analysts have also weighed in on the stock. Barclays raised shares of Tyler Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $577.00 to $700.00 in a research note on Monday, October 7th. Truist Financial reiterated a “buy” rating and set a $600.00 price target (up previously from $560.00) on shares of Tyler Technologies in a research note on Friday, July 26th. JMP Securities increased their price objective on Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a research note on Monday, July 22nd. The Goldman Sachs Group restated a “buy” rating and issued a $627.00 target price on shares of Tyler Technologies in a report on Friday, September 13th. Finally, BTIG Research upped their price target on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Tyler Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Trading Down 0.9 %

TYL opened at $605.86 on Friday. The company has a fifty day moving average price of $584.88 and a two-hundred day moving average price of $528.21. Tyler Technologies has a 1-year low of $361.16 and a 1-year high of $631.43. The company has a market cap of $25.72 billion, a P/E ratio of 137.07, a price-to-earnings-growth ratio of 5.42 and a beta of 0.78. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.19.

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, topping analysts’ consensus estimates of $2.43 by $0.09. The business had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.66 EPS. Analysts predict that Tyler Technologies will post 7.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $576.49, for a total value of $3,603,062.50. Following the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $43,236,750. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total value of $3,603,062.50. Following the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at $43,236,750. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s 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 transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $43,246,500. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,100 shares of company stock worth $16,890,717. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Several large investors have recently modified their holdings of the business. Swedbank AB bought a new position in Tyler Technologies in the 2nd quarter worth approximately $251,390,000. International Assets Investment Management LLC raised its holdings in Tyler Technologies by 252,047.5% during the 3rd quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock valued at $179,564,000 after acquiring an additional 307,498 shares during the period. Janus Henderson Group PLC lifted its position 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 acquiring an additional 70,801 shares in the last quarter. Quantum Capital Management LLC NJ boosted its holdings 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 worth $45,799,000 after acquiring an additional 69,189 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position 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 valued at $180,622,000 after purchasing an additional 65,814 shares in the last quarter. 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.