Wells Fargo & Company Reiterates Equal Weight Rating for Tyler Technologies (NYSE:TYL)

Tyler Technologies (NYSE:TYL)‘s stock had its “equal weight” rating reiterated by analysts at Wells Fargo & Company in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They presently have a $615.00 price objective on the technology company’s stock, down from their prior price objective of $670.00. Wells Fargo & Company‘s price target points to a potential upside of 7.05% from the company’s previous close.

TYL has been the subject of several other reports. DA Davidson lifted their price objective on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays boosted their price target on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Robert W. Baird boosted their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group reiterated a “buy” rating and issued a $627.00 price target on shares of Tyler Technologies in a report on Friday, September 13th. Finally, Needham & Company LLC boosted their price target on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $643.77.

Tyler Technologies Trading Up 1.9 %

Shares of Tyler Technologies stock opened at $574.49 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. Tyler Technologies has a 1 year low of $397.80 and a 1 year high of $638.56. The company has a market capitalization of $24.59 billion, a P/E ratio of 104.83, a P/E/G ratio of 5.54 and a beta of 0.78. The business has a 50 day moving average price of $606.89 and a 200 day moving average price of $580.07.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. During the same period in the previous year, the firm posted $1.66 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that Tyler Technologies will post 7.36 EPS for the current fiscal year.

Insider Activity

In related news, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $624.41, for a total transaction of $1,561,025.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at approximately $7,461,699.50. This represents a 17.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $45,436,500. This trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,252 shares of company stock valued at $26,096,928 in the last ninety days. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Diversified Trust Co purchased a new position in Tyler Technologies in the 4th quarter valued at about $596,000. Nordea Investment Management AB boosted its position in Tyler Technologies by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 3,796 shares of the technology company’s stock valued at $2,192,000 after buying an additional 148 shares during the last quarter. GAMMA Investing LLC boosted its position in Tyler Technologies by 36.8% in the 4th quarter. GAMMA Investing LLC now owns 1,520 shares of the technology company’s stock valued at $876,000 after buying an additional 409 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Tyler Technologies by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after buying an additional 275,511 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Tyler Technologies by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock valued at $547,354,000 after buying an additional 17,943 shares during the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

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.