Tyler Technologies (NYSE:TYL) PT Raised to $700.00 at Robert W. Baird

Tyler Technologies (NYSE:TYL) had its price objective increased by Robert W. Baird from $625.00 to $700.00 in a report issued on Friday morning, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other equities analysts have also recently weighed in on the stock. DA Davidson upped their price target on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. JMP Securities increased their target price on shares of Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a report on Monday, July 22nd. BTIG Research lifted their price target on shares of Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Barclays upgraded Tyler Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $577.00 to $700.00 in a report on Monday, October 7th. Finally, Truist Financial reaffirmed a “buy” rating and set a $600.00 price objective (up from $560.00) on shares of Tyler Technologies 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $642.62.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $605.39 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average price of $585.40 and a 200 day moving average price of $529.57. Tyler Technologies has a 52 week low of $362.50 and a 52 week high of $631.43. The company has a market cap of $25.91 billion, a P/E ratio of 110.47, a PEG ratio of 5.53 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The business had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. During the same period last year, the firm earned $1.66 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Research analysts predict that Tyler Technologies will post 7.3 earnings per share for the current year.

Insider Activity at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the completion of 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. In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $43,246,500. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $43,236,750. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,100 shares of company stock valued at $16,890,717 over the last quarter. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Independence Bank of Kentucky acquired a new position in Tyler Technologies during the second quarter valued at approximately $25,000. Covestor Ltd lifted its holdings 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 in the last quarter. Blue Trust Inc. boosted its position in Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after purchasing an additional 56 shares during the period. Lynx Investment Advisory acquired a new stake in Tyler Technologies in the 2nd quarter valued at $38,000. Finally, Larson Financial Group LLC raised its position in Tyler Technologies by 675.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the technology company’s stock valued at $40,000 after purchasing an additional 81 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.