Tyler Technologies (NYSE:TYL) Rating Reiterated by Truist Financial

Truist Financial reiterated their buy rating on shares of Tyler Technologies (NYSE:TYL) in a research report report published on Thursday, Benzinga reports. They currently have a $560.00 price target on the technology company’s stock, up from their previous price target of $510.00.

TYL has been the topic of several other reports. BTIG Research upped their target price on Tyler Technologies from $515.00 to $550.00 and gave the company a buy rating in a research report on Wednesday, May 22nd. Oppenheimer upped their price objective on shares of Tyler Technologies from $500.00 to $550.00 and gave the company an outperform rating in a report on Wednesday, May 22nd. Piper Sandler reiterated an overweight rating and issued a $520.00 target price on shares of Tyler Technologies in a research note on Wednesday, April 24th. DA Davidson boosted their target price 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. Finally, JPMorgan Chase & Co. raised their price target 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. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $519.09.

Tyler Technologies Stock Up 0.2 %

NYSE:TYL opened at $492.05 on Thursday. The company’s 50-day simple moving average is $443.38 and its 200-day simple moving average is $429.31. 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 fifty-two week low of $361.16 and a fifty-two week high of $500.49. The stock has a market capitalization of $20.89 billion, a P/E ratio of 111.32, a P/E/G ratio of 4.59 and a beta of 0.76.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, April 24th. The technology company reported $1.74 EPS for the quarter, beating 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 company had revenue of $512.36 million during the quarter, compared to analysts’ expectations of $507.79 million. On average, equities analysts anticipate that Tyler Technologies will post 7.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other news, Director Daniel M. Pope sold 520 shares of the 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 transaction, the director now owns 3,493 shares in the company, valued at approximately $1,715,691.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Daniel M. Pope sold 520 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 1,849 shares of the firm’s 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 in the company, valued at $33,485,447.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,549 shares of company stock valued at $15,659,615. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TYL. Kapitalo Investimentos Ltda purchased a new stake in shares of Tyler Technologies during the fourth quarter worth $26,000. Covestor Ltd raised its holdings in Tyler Technologies by 153.6% in the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after acquiring an additional 43 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Tyler Technologies in the 4th quarter valued at about $31,000. Larson Financial Group LLC boosted its holdings in shares of Tyler Technologies by 675.0% during 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 last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Tyler Technologies in the fourth quarter valued at approximately $40,000. 93.30% of the stock is owned by institutional investors and hedge funds.

Tyler Technologies Company Profile

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.