Brokerages Set Tyler Technologies, Inc. (NYSE:TYL) PT at $676.25

Shares of Tyler Technologies, Inc. (NYSE:TYL) have been given a consensus recommendation of “Moderate Buy” by the thirteen analysts that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $676.25.

Several brokerages have recently issued reports on TYL. Piper Sandler increased their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Truist Financial reissued a “buy” rating and set a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Wells Fargo & Company reissued an “equal weight” rating and set a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. DA Davidson restated a “neutral” rating and set a $575.00 target price on shares of Tyler Technologies in a report on Thursday, January 30th. Finally, Barclays increased their target price on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a report on Friday, February 14th.

Insider Buying and Selling at Tyler Technologies

In other news, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total value of $951,049.00. Following the transaction, the chief financial officer now directly owns 14,026 shares of the company’s stock, valued at $8,606,073.08. This represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at $4,322,477. The trade was a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,064 shares of company stock worth $8,688,030 over the last quarter. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tyler Technologies

Several large investors have recently modified their holdings of TYL. Norges Bank bought a new position in shares of Tyler Technologies in the fourth quarter valued at about $528,465,000. Van ECK Associates Corp raised its position in shares of 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 valued at $317,486,000 after purchasing an additional 524,259 shares during the period. Raymond James Financial Inc. bought a new position in Tyler Technologies during the fourth quarter worth about $159,947,000. JPMorgan Chase & Co. increased its position in Tyler Technologies by 148.2% during 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. Finally, Seilern Investment Management Ltd bought a new position in Tyler Technologies during the fourth quarter worth about $105,549,000. 93.30% of the stock is owned by institutional investors.

Tyler Technologies Stock Up 0.6 %

Shares of NYSE:TYL opened at $578.40 on Monday. Tyler Technologies has a 52 week low of $397.80 and a 52 week high of $661.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The company has a market capitalization of $24.88 billion, a PE ratio of 95.44, a PEG ratio of 4.93 and a beta of 0.80. The company has a 50 day moving average price of $598.88 and a two-hundred day moving average price of $598.17.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. Analysts forecast that Tyler Technologies will post 8.52 earnings per share for the current year.

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.