Tyler Technologies (NYSE:TYL) Price Target Raised to $747.00

Tyler Technologies (NYSE:TYL) had its price target boosted by Piper Sandler from $701.00 to $747.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other equities analysts have also recently commented on the company. StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Truist Financial reaffirmed a “buy” rating and issued a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Barclays lifted their price target on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $575.00 price target on shares of Tyler Technologies in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $667.83.

Tyler Technologies Stock Performance

NYSE:TYL opened at $642.39 on Friday. The business has a 50 day moving average of $596.21 and a 200 day moving average of $594.48. The company has a market capitalization of $27.49 billion, a price-to-earnings ratio of 117.22, a PEG ratio of 4.78 and a beta of 0.78. Tyler Technologies has a 1-year low of $397.80 and a 1-year high of $661.31. 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 (NYSE:TYL) last released its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. On average, sell-side analysts predict that Tyler Technologies will post 7.36 earnings per share for the current fiscal year.

Insider Activity

In related news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the sale, the insider now directly owns 6,983 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total value of $1,580,025.00. Following the sale, the chief financial officer now owns 12,198 shares in the company, valued at $7,709,257.98. This represents a 17.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,502 shares of company stock valued at $18,941,368. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Several hedge funds have recently made changes to their positions in TYL. Norges Bank bought a new stake in shares of Tyler Technologies during the fourth quarter valued at approximately $528,465,000. Van ECK Associates Corp boosted its holdings in Tyler Technologies by 1,991.8% in the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after acquiring an additional 524,259 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Tyler Technologies by 252,047.5% in the third quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock worth $179,564,000 after acquiring an additional 307,498 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Tyler Technologies in the fourth quarter worth $159,947,000. Finally, JPMorgan Chase & Co. boosted its holdings 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 in the last quarter. 93.30% of the stock is currently owned by 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.