Robert W. Baird Raises Tyler Technologies (NYSE:TYL) Price Target to $525.00

Tyler Technologies (NYSE:TYL) had its price objective lifted by research analysts at Robert W. Baird from $500.00 to $525.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target would indicate a potential upside of 14.52% from the company’s current price.

TYL has been the subject of several other research reports. JPMorgan Chase & Co. upped their target price on shares of Tyler Technologies from $500.00 to $526.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $500.00 target price on shares of Tyler Technologies in a research note on Thursday. JMP Securities reaffirmed a “market outperform” rating and issued a $490.00 target price on shares of Tyler Technologies in a research note on Friday, February 16th. DA Davidson upped their target price on shares of Tyler Technologies from $412.00 to $434.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Finally, Oppenheimer upped their target price on shares of Tyler Technologies from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $465.85.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock opened at $458.45 on Friday. The firm has a market cap of $19.46 billion, a P/E ratio of 103.72, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. Tyler Technologies has a twelve month low of $361.16 and a twelve month high of $464.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50-day simple moving average is $422.62 and its 200-day simple moving average is $414.83.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. The business had revenue of $480.94 million during the quarter, compared to the consensus estimate of $483.34 million. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.49%. As a group, research analysts expect that Tyler Technologies will post 6.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO H Lynn Moore, Jr. sold 1,849 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $421.19, for a total transaction of $778,780.31. Following the completion of the transaction, the chief executive officer now owns 79,502 shares in the company, valued at $33,485,447.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $421.27, for a total value of $1,053,175.00. Following the completion of the transaction, the chief financial officer now owns 16,160 shares of the company’s stock, valued at approximately $6,807,723.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 1,849 shares of Tyler Technologies stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $421.19, for a total transaction of $778,780.31. Following the completion of the transaction, the chief executive officer now directly owns 79,502 shares of the company’s stock, valued at approximately $33,485,447.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,608 shares of company stock worth $21,974,819. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TYL. SYSTM Wealth Solutions LLC lifted its stake in shares of Tyler Technologies by 8.7% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 4,309 shares of the technology company’s stock worth $1,831,000 after buying an additional 344 shares during the last quarter. Mesirow Financial Investment Management Inc. acquired a new stake in Tyler Technologies in the 1st quarter worth about $2,754,000. Davies Financial Advisors Inc. acquired a new stake in Tyler Technologies in the 1st quarter worth about $211,000. WCM Investment Management LLC raised its stake in Tyler Technologies by 2.3% in the 1st quarter. WCM Investment Management LLC now owns 2,836 shares of the technology company’s stock worth $1,205,000 after purchasing an additional 63 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Tyler Technologies by 9.2% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 7,100 shares of the technology company’s stock worth $3,018,000 after purchasing an additional 600 shares in the last quarter. 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.