Tyler Technologies’ (TYL) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Tyler Technologies (NYSE:TYL) in a research report released on Friday, Benzinga reports. They currently have a $490.00 price target on the technology company’s stock.

A number of other equities analysts also recently issued reports on the company. Oppenheimer raised their price target on Tyler Technologies from $480.00 to $500.00 and gave the stock an outperform rating in a research note on Friday. Robert W. Baird increased their price objective on shares of Tyler Technologies from $500.00 to $525.00 and gave the stock an outperform rating in a research note on Friday. JPMorgan Chase & Co. raised their price objective on shares of Tyler Technologies from $500.00 to $526.00 and gave the stock an overweight rating in a report on Thursday, February 15th. 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 report on Thursday, February 22nd. Finally, Needham & Company LLC reiterated a buy rating and set a $500.00 price target on shares of Tyler Technologies in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Tyler Technologies currently has an average rating of Moderate Buy and a consensus price target of $480.60.

Tyler Technologies Stock Performance

Shares of TYL opened at $465.21 on Friday. Tyler Technologies has a 12 month low of $361.16 and a 12 month high of $465.78. The business’s fifty day simple moving average is $423.50 and its two-hundred day simple moving average is $416.17. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20. The company has a market cap of $19.75 billion, a price-to-earnings ratio of 105.25, a P/E/G ratio of 4.38 and a beta of 0.81.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.33 by $0.06. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. The company had revenue of $480.94 million for the quarter, compared to analysts’ expectations of $483.34 million. Research analysts anticipate that Tyler Technologies will post 7.01 earnings per share for the current fiscal year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $32,639,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 10,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $435.98, for a total value of $4,359,800.00. Following the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $32,698,500. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 7,500 shares of Tyler Technologies stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at $32,639,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,608 shares of company stock valued at $21,974,819. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tyler Technologies

Several institutional investors have recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Tyler Technologies by 7.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,205 shares of the technology company’s stock valued at $465,000 after acquiring an additional 85 shares during the last quarter. Raymond James Trust N.A. lifted its position in Tyler Technologies by 4.9% during the fourth quarter. Raymond James Trust N.A. now owns 1,515 shares of the technology company’s stock valued at $633,000 after purchasing an additional 71 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Tyler Technologies by 4.6% in the 4th quarter. Nordea Investment Management AB now owns 2,600 shares of the technology company’s stock worth $1,091,000 after buying an additional 115 shares in the last quarter. DNB Asset Management AS bought a new stake in shares of Tyler Technologies in the 4th quarter worth about $5,040,000. Finally, NBW Capital LLC raised its position in shares of Tyler Technologies by 50.7% during the 4th quarter. NBW Capital LLC now owns 13,345 shares of the technology company’s stock valued at $5,580,000 after buying an additional 4,489 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.