Piper Sandler Reiterates “Overweight” Rating for Tyler Technologies (NYSE:TYL)

Piper Sandler restated their overweight rating on shares of Tyler Technologies (NYSE:TYL) in a research report released on Wednesday, Benzinga reports. They currently have a $520.00 price target on the technology company’s stock.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. boosted their target price on Tyler Technologies from $500.00 to $526.00 and gave the stock an overweight rating in a report on Thursday, February 15th. DA Davidson boosted their target price on Tyler Technologies from $412.00 to $434.00 and gave the stock a neutral rating in a report on Thursday, February 22nd. JMP Securities restated a market outperform rating and set a $490.00 target price on shares of Tyler Technologies in a report on Friday, February 16th. Finally, Needham & Company LLC boosted their target price on Tyler Technologies from $475.00 to $500.00 and gave the stock a buy rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $465.85.

Tyler Technologies Trading Up 0.6 %

TYL stock opened at $460.74 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. Tyler Technologies has a 12-month low of $361.16 and a 12-month high of $465.78. The stock has a market cap of $19.56 billion, a price-to-earnings ratio of 104.24, a PEG ratio of 4.51 and a beta of 0.81. The business’s 50-day moving average is $423.02 and its 200 day moving average is $415.30.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.06. The company had revenue of $480.94 million for the quarter, compared to analysts’ expectations of $483.34 million. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. On average, sell-side analysts anticipate that Tyler Technologies will post 6.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $427.82, for a total transaction of $2,780,830.00. Following the transaction, the insider now directly owns 6,400 shares in the company, valued at $2,738,048. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $427.82, for a total transaction of $2,780,830.00. Following the transaction, the insider now directly owns 6,400 shares in the company, valued at $2,738,048. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $442.99, for a total value of $2,214,950.00. Following the transaction, the chief financial officer now owns 14,610 shares in the company, valued at $6,472,083.90. The disclosure for this sale can be found here. Insiders have sold 50,608 shares of company stock worth $21,974,819 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

Several hedge funds have recently modified their holdings of TYL. Kapitalo Investimentos Ltda acquired a new stake in shares of Tyler Technologies in the fourth quarter valued at $26,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Tyler Technologies in the fourth quarter valued at $31,000. Headlands Technologies LLC acquired a new stake in shares of Tyler Technologies in the fourth quarter valued at $40,000. Lindbrook Capital LLC raised its stake in shares of Tyler Technologies by 50.6% in the fourth quarter. Lindbrook Capital LLC now owns 116 shares of the technology company’s stock valued at $49,000 after acquiring an additional 39 shares in the last quarter. Finally, Chilton Capital Management LLC acquired a new stake in shares of Tyler Technologies in the fourth quarter valued at $52,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

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.