Analysts Set Tyler Technologies, Inc. (NYSE:TYL) Price Target at $642.62

Shares of Tyler Technologies, Inc. (NYSE:TYL) have received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $642.62.

A number of equities research analysts have weighed in on the company. Oppenheimer raised their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Truist Financial reiterated a “buy” rating and set a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. DA Davidson boosted their price objective on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Barclays increased their target price on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Piper Sandler boosted their price target on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $584.17 on Wednesday. The business has a 50-day simple moving average of $608.52 and a 200 day simple moving average of $577.41. Tyler Technologies has a 52 week low of $397.80 and a 52 week high of $638.56. The stock has a market cap of $25.00 billion, a price-to-earnings ratio of 106.60, a PEG ratio of 5.54 and a beta of 0.76. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The business had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Tyler Technologies’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $1.66 earnings per share. On average, research analysts forecast that Tyler Technologies will post 7.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,424,079.65. The trade was a 46.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian K. Miller sold 6,752 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the transaction, the chief financial officer now directly owns 11,918 shares of the company’s stock, valued at $7,314,672.50. This represents a 36.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,252 shares of company stock worth $26,096,928. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

A number of institutional investors have recently made changes to their positions in the company. APG Asset Management N.V. grew its holdings in shares of Tyler Technologies by 1.4% in the second quarter. APG Asset Management N.V. now owns 1,507,062 shares of the technology company’s stock worth $706,994,000 after acquiring an additional 20,842 shares during the period. Geode Capital Management LLC grew its stake in shares of Tyler Technologies by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company’s stock valued at $645,585,000 after purchasing an additional 24,284 shares during the period. Franklin Resources Inc. grew its stake in shares of Tyler Technologies by 2.0% during the 3rd quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock valued at $547,354,000 after purchasing an additional 17,943 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Tyler Technologies by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company’s stock valued at $527,785,000 after purchasing an additional 36,066 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Tyler Technologies by 148.2% in the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after acquiring an additional 275,511 shares during the period. 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.