Brokerages Set Tyler Technologies, Inc. (NYSE:TYL) PT at $642.62

Shares of Tyler Technologies, Inc. (NYSE:TYL) have been given an average rating of “Moderate Buy” by the fourteen analysts that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $642.62.

Several brokerages have recently issued reports on TYL. Truist Financial restated a “buy” rating and issued a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. JMP Securities raised their price objective on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a report on Friday, October 25th. Evercore ISI raised Tyler Technologies to a “hold” rating in a report on Friday, July 26th. DA Davidson raised their price target on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Piper Sandler boosted their price objective on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research note on Friday, October 25th.

Tyler Technologies Stock Down 0.4 %

Shares of NYSE TYL opened at $614.28 on Tuesday. The business has a 50-day moving average of $593.46 and a two-hundred day moving average of $545.54. The company has a market capitalization of $26.29 billion, a price-to-earnings ratio of 112.10, a price-to-earnings-growth ratio of 5.59 and a beta of 0.77. Tyler Technologies has a 1 year low of $397.80 and a 1 year high of $631.43. 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 issued its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. The business had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $1.66 EPS. On average, analysts forecast that Tyler Technologies will post 7.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $624.41, for a total value of $1,561,025.00. Following the sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at $7,461,699.50. This represents a 17.30 % decrease in their ownership of the stock. 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 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $43,246,500. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,600 shares of company stock valued at $19,307,295. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

A number of large investors have recently bought and sold shares of the stock. Bessemer Group Inc. lifted its position in shares of Tyler Technologies by 39.4% in the first quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock valued at $2,906,000 after acquiring an additional 1,935 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Tyler Technologies by 7.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 46,724 shares of the technology company’s stock valued at $19,858,000 after purchasing an additional 3,198 shares in the last quarter. Natixis boosted its stake in shares of Tyler Technologies by 114.0% during the 1st quarter. Natixis now owns 2,253 shares of the technology company’s stock worth $958,000 after purchasing an additional 1,200 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Tyler Technologies by 143.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 1,794 shares of the technology company’s stock worth $762,000 after buying an additional 1,058 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of Tyler Technologies by 64.8% in the first quarter. Tidal Investments LLC now owns 2,953 shares of the technology company’s stock valued at $1,253,000 after buying an additional 1,161 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

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.