Tyler Technologies, Inc. (NYSE:TYL) Receives $676.25 Average PT from Analysts

Shares of Tyler Technologies, Inc. (NYSE:TYL) have been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $676.25.

A number of analysts have recently weighed in on TYL shares. Piper Sandler upped their price target on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Truist Financial reissued a “buy” rating and set a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. DA Davidson reissued a “neutral” rating and set a $575.00 target price on shares of Tyler Technologies in a research note on Thursday, January 30th. Barclays increased their target price on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, The Goldman Sachs Group increased their target price on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th.

Tyler Technologies Trading Down 2.4 %

Shares of NYSE:TYL opened at $614.89 on Thursday. The company has a 50 day moving average of $597.53 and a 200-day moving average of $596.50. The firm has a market cap of $26.45 billion, a P/E ratio of 101.47, a P/E/G ratio of 4.93 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 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last issued 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 return on equity of 10.15% and a net margin of 12.30%. As a group, analysts anticipate that Tyler Technologies will post 8.52 earnings per share for the current fiscal year.

Insider Activity

In other news, insider John S. Marr, Jr. sold 12,000 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 6,983 shares in the company, valued at $4,285,187.78. The trade was a 63.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 3,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $631.41, for a total transaction of $2,052,082.50. Following the sale, the chief executive officer now owns 75,000 shares in the company, valued at $47,355,750. This represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $18,941,368 over the last 90 days. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tyler Technologies

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its position in Tyler Technologies by 432.9% in the 3rd quarter. Blue Trust Inc. now owns 389 shares of the technology company’s stock worth $227,000 after purchasing an additional 316 shares during the last quarter. Signaturefd LLC grew its stake in shares of Tyler Technologies by 19.7% in the 3rd quarter. Signaturefd LLC now owns 627 shares of the technology company’s stock valued at $366,000 after buying an additional 103 shares in the last quarter. Greenleaf Trust acquired a new position in Tyler Technologies in the third quarter worth approximately $249,000. Axecap Investments LLC acquired a new position in Tyler Technologies in the third quarter worth approximately $1,943,000. Finally, International Assets Investment Management LLC raised its position in Tyler Technologies by 252,047.5% during the third quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock valued at $179,564,000 after acquiring an additional 307,498 shares in the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

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.