Tyler Technologies, Inc. (NYSE:TYL) PT Set at $197.00 by Maxim Group
Maxim Group set a $197.00 target price on Tyler Technologies, Inc. (NYSE:TYL) in a research report sent to investors on Monday morning. The firm currently has a buy rating on the technology company’s stock.
“On June 30th, Vermont announced that it has selected TYL’s Odyssey case management system to implement statewide and roll-out by 2021.”,” the firm’s analyst wrote.
A number of other equities analysts have also commented on the stock. Zacks Investment Research raised shares of Tyler Technologies from a sell rating to a hold rating in a report on Thursday, April 13th. B. Riley reissued a buy rating and issued a $184.00 price target on shares of Tyler Technologies in a report on Sunday, May 14th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $187.00.
Shares of Tyler Technologies (TYL) opened at 177.52 on Monday. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of 55.81 and a beta of 0.96. Tyler Technologies has a 12 month low of $139.61 and a 12 month high of $178.69. The firm has a 50-day moving average of $172.57 and a 200-day moving average of $160.44.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, April 26th. The technology company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.01. The firm had revenue of $199.54 million for the quarter, compared to analyst estimates of $199.76 million. Tyler Technologies had a net margin of 13.48% and a return on equity of 13.12%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 EPS. On average, analysts anticipate that Tyler Technologies will post $3.88 EPS for the current year.
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In related news, VP Brian K. Miller sold 1,240 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $174.50, for a total transaction of $216,380.00. Following the transaction, the vice president now owns 47,989 shares of the company’s stock, valued at approximately $8,374,080.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Larry D. Leinweber sold 36,000 shares of the stock in a transaction on Monday, May 1st. The shares were sold at an average price of $163.55, for a total transaction of $5,887,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 391,147 shares of company stock worth $65,619,550. 10.30% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. raised its position in Tyler Technologies by 15.1% in the first quarter. Assetmark Inc. now owns 761 shares of the technology company’s stock valued at $118,000 after buying an additional 100 shares in the last quarter. New England Research & Management Inc. acquired a new position in Tyler Technologies during the first quarter valued at approximately $201,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Tyler Technologies by 32.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,298 shares of the technology company’s stock valued at $201,000 after buying an additional 317 shares in the last quarter. Pennsylvania Trust Co acquired a new position in Tyler Technologies during the first quarter valued at approximately $239,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Tyler Technologies during the first quarter valued at approximately $242,000. 89.88% of the stock is currently owned by institutional investors.
About Tyler Technologies
Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company operates through two segments: Enterprise Software (ES) segment and The Appraisal and Tax (A&T) segment. ES segment provides municipal and county governments and schools with software systems and services for information technology and automation needs that includes back-office functions, such as financial management, courts and justice processes, public safety, planning regulatory and maintenance, and land and vital records management.
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