Needham & Company LLC Raises Tyler Technologies (NYSE:TYL) Price Target to $600.00

Tyler Technologies (NYSE:TYL) had its price objective raised by Needham & Company LLC from $500.00 to $600.00 in a report published on Tuesday, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Several other equities analysts have also issued reports on TYL. Piper Sandler reissued an overweight rating and issued a $520.00 price target on shares of Tyler Technologies in a report on Wednesday, April 24th. Robert W. Baird boosted their price objective on shares of Tyler Technologies from $500.00 to $525.00 and gave the company an outperform rating in a research report on Friday, April 26th. JPMorgan Chase & Co. boosted their price objective on shares of Tyler Technologies from $500.00 to $526.00 and gave the company an overweight rating in a research report on Thursday, February 15th. JMP Securities reaffirmed a market outperform rating and issued a $490.00 price objective on shares of Tyler Technologies in a research report on Friday, April 26th. Finally, DA Davidson boosted their price target on shares of Tyler Technologies from $412.00 to $434.00 and gave the stock a neutral rating in a research report on Thursday, February 22nd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $519.09.

Tyler Technologies Price Performance

TYL opened at $492.05 on Tuesday. The company has a fifty day moving average price of $443.38 and a two-hundred day moving average price of $429.19. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94. Tyler Technologies has a 52 week low of $361.16 and a 52 week high of $500.49. The firm has a market capitalization of $20.89 billion, a PE ratio of 111.32, a P/E/G ratio of 4.59 and a beta of 0.76.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, April 24th. The technology company reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.26. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. The firm had revenue of $512.36 million during the quarter, compared to analyst estimates of $507.79 million. As a group, analysts anticipate that Tyler Technologies will post 7.14 earnings per share for the current year.

Insiders Place Their Bets

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,500 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $438.98, for a total value of $2,853,370.00. Following the transaction, the insider now directly owns 6,400 shares of the company’s stock, valued at $2,809,472. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider John S. Marr, Jr. sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $438.98, for a total value of $2,853,370.00. Following the completion of the sale, the insider now directly owns 6,400 shares in the company, valued at approximately $2,809,472. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel M. Pope sold 520 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total transaction of $255,413.60. Following the completion of the sale, the director now owns 3,493 shares of the company’s stock, valued at $1,715,691.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,049 shares of company stock worth $20,727,935. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Tyler Technologies

Institutional investors have recently bought and sold shares of the company. Kapitalo Investimentos Ltda bought a new position in shares of Tyler Technologies in the 4th quarter worth approximately $26,000. Covestor Ltd raised its holdings in shares of Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after acquiring an additional 43 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Tyler Technologies during the fourth quarter valued at $31,000. Headlands Technologies LLC purchased a new position in Tyler Technologies in the fourth quarter worth about $40,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Tyler Technologies by 675.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the technology company’s stock worth $40,000 after purchasing an additional 81 shares during the period. 93.30% of the stock is owned by hedge funds and other institutional investors.

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.