Analysts Set Tyler Technologies, Inc. (NYSE:TYL) Target Price at $642.62

Shares of Tyler Technologies, Inc. (NYSE:TYL) have been given an average recommendation of “Moderate Buy” by the fourteen research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $642.62.

A number of equities research analysts recently commented on TYL shares. Piper Sandler increased their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. DA Davidson raised their price objective on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Needham & Company LLC upped their target price on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Barclays increased their price target on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Oppenheimer upped their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th.

Tyler Technologies Stock Down 0.2 %

Tyler Technologies stock opened at $621.77 on Friday. The firm has a market cap of $26.61 billion, a P/E ratio of 113.46, a P/E/G ratio of 5.64 and a beta of 0.76. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies has a twelve month low of $397.80 and a twelve month high of $638.56. The business has a fifty day moving average of $605.56 and a two-hundred day moving average of $562.93.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (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 company had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. During the same quarter in the previous year, the firm earned $1.66 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, analysts forecast that Tyler Technologies will post 7.36 earnings per share for the current fiscal year.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. The trade was a 63.21 % 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, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at $45,436,500. The trade was a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,500 shares of company stock worth $24,835,988 over the last 90 days. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. QRG Capital Management Inc. grew its position in shares of Tyler Technologies by 17.9% during the 2nd quarter. QRG Capital Management Inc. now owns 776 shares of the technology company’s stock valued at $390,000 after acquiring an additional 118 shares during the period. SG Americas Securities LLC increased its position in shares of Tyler Technologies by 18.3% during the second quarter. SG Americas Securities LLC now owns 8,117 shares of the technology company’s stock worth $4,081,000 after purchasing an additional 1,255 shares in the last quarter. Czech National Bank raised its position in shares of Tyler Technologies by 9.2% in the second quarter. Czech National Bank now owns 8,090 shares of the technology company’s stock valued at $4,067,000 after buying an additional 679 shares during the last quarter. Quantum Financial Advisors LLC lifted its stake in Tyler Technologies by 2.0% in the 2nd quarter. Quantum Financial Advisors LLC now owns 1,743 shares of the technology company’s stock worth $876,000 after purchasing an additional 35 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in Tyler Technologies by 9.5% during the second quarter. Sequoia Financial Advisors LLC now owns 890 shares of the technology company’s stock worth $447,000 after buying an additional 77 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.