Tyler Technologies (NYSE:TYL) PT Raised to $500.00

Tyler Technologies (NYSE:TYL) had its price target hoisted by equities research analysts at Oppenheimer from $480.00 to $500.00 in a report released on Friday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target would indicate a potential upside of 9.06% from the stock’s current price.

Other equities analysts also recently issued reports about the company. DA Davidson lifted their target price on Tyler Technologies from $412.00 to $434.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. JMP Securities reissued a “market outperform” rating and set a $490.00 price objective on shares of Tyler Technologies in a research report on Friday, February 16th. Needham & Company LLC reissued a “buy” rating and set a $500.00 price objective on shares of Tyler Technologies in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on Tyler Technologies from $500.00 to $526.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Finally, Piper Sandler reissued an “overweight” rating and set a $520.00 price objective on shares of Tyler Technologies in a research report on Wednesday. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and an average target price of $462.00.

Tyler Technologies Stock Performance

NYSE TYL opened at $458.45 on Friday. The company has a market cap of $19.46 billion, a P/E ratio of 103.72, a P/E/G ratio of 4.12 and a beta of 0.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50-day moving average of $422.62 and a two-hundred day moving average of $414.83. Tyler Technologies has a 1-year low of $361.16 and a 1-year high of $464.81.

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

Insider Transactions at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $437.49, for a total transaction of $2,843,685.00. Following the transaction, the insider now owns 6,400 shares of the company’s stock, valued at $2,799,936. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $437.49, for a total transaction of $2,843,685.00. Following the transaction, the insider now owns 6,400 shares of the company’s stock, valued at $2,799,936. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 7,500 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $435.19, for a total value of $3,263,925.00. Following the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $32,639,250. The disclosure for this sale can be found here. Insiders sold 50,608 shares of company stock worth $21,974,819 over the last 90 days. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Tyler Technologies

Several large investors have recently bought and sold shares of the company. First Trust Direct Indexing L.P. grew its holdings in Tyler Technologies by 2.7% in the third quarter. First Trust Direct Indexing L.P. now owns 1,095 shares of the technology company’s stock valued at $423,000 after purchasing an additional 29 shares during the last quarter. Baron Wealth Management LLC boosted its stake in shares of Tyler Technologies by 2.0% during the fourth quarter. Baron Wealth Management LLC now owns 1,463 shares of the technology company’s stock valued at $612,000 after acquiring an additional 29 shares during the last quarter. Centered Wealth LLC dba Miller Equity Capital Advisors boosted its stake in shares of Tyler Technologies by 0.8% during the fourth quarter. Centered Wealth LLC dba Miller Equity Capital Advisors now owns 3,920 shares of the technology company’s stock valued at $1,639,000 after acquiring an additional 30 shares during the last quarter. GW&K Investment Management LLC boosted its stake in shares of Tyler Technologies by 0.3% during the fourth quarter. GW&K Investment Management LLC now owns 12,044 shares of the technology company’s stock valued at $5,035,000 after acquiring an additional 31 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in shares of Tyler Technologies by 5.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 670 shares of the technology company’s stock valued at $280,000 after acquiring an additional 33 shares during the last quarter. Institutional investors and hedge funds 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.