Tyler Technologies’ (TYL) “Buy” Rating Reiterated at Truist Financial

Truist Financial reiterated their buy rating on shares of Tyler Technologies (NYSE:TYL) in a research note released on Friday morning,Benzinga reports. Truist Financial currently has a $775.00 price objective on the technology company’s stock, up from their prior price objective of $685.00.

Several other brokerages have also weighed in on TYL. Oppenheimer raised their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Barclays raised their price objective on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company reissued an “equal weight” rating and set a $615.00 price objective (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price target on shares of Tyler Technologies in a report on Tuesday, January 21st. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $575.00 price target on shares of Tyler Technologies in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $667.83.

Tyler Technologies Price Performance

TYL opened at $642.39 on Friday. The company has a fifty day simple moving average of $596.21 and a 200 day simple moving average of $594.48. The firm has a market cap 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 twelve month low of $397.80 and a twelve month high of $661.31. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last released its quarterly 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 net margin of 11.39% and a return on equity of 9.79%. Equities research analysts expect that Tyler Technologies will post 7.36 EPS for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,285,187.78. This represents a 63.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the completion of 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. Insiders have sold 30,502 shares of company stock valued at $18,941,368 in the last 90 days. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tyler Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new stake in shares of Tyler Technologies during the third quarter worth $270,000. Creative Planning raised its stake in Tyler Technologies by 2.9% during the third quarter. Creative Planning now owns 24,051 shares of the technology company’s stock worth $14,039,000 after acquiring an additional 686 shares in the last quarter. Vontobel Holding Ltd. raised its stake in Tyler Technologies by 3.9% during the third quarter. Vontobel Holding Ltd. now owns 1,214 shares of the technology company’s stock worth $709,000 after acquiring an additional 46 shares in the last quarter. nVerses Capital LLC acquired a new position in Tyler Technologies during the third quarter worth about $409,000. Finally, Bleakley Financial Group LLC raised its stake in Tyler Technologies by 2.6% during the third quarter. Bleakley Financial Group LLC now owns 2,123 shares of the technology company’s stock worth $1,239,000 after acquiring an additional 54 shares in the last quarter. 93.30% of the stock is owned by 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.