Tyler Technologies (NYSE:TYL) PT Raised to $550.00 at BTIG Research

Tyler Technologies (NYSE:TYL) had its price target increased by BTIG Research from $515.00 to $550.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

TYL has been the subject of a number of other research reports. Oppenheimer increased their price target on shares of Tyler Technologies from $500.00 to $550.00 and gave the company an outperform rating in a report on Wednesday. Needham & Company LLC raised their target price on shares of Tyler Technologies from $500.00 to $600.00 and gave the stock a buy rating in a research report on Tuesday, May 21st. Loop Capital upped their price objective on shares of Tyler Technologies from $485.00 to $530.00 and gave the stock a buy rating in a research note on Tuesday, May 21st. Piper Sandler reissued an overweight rating and issued a $520.00 price target on shares of Tyler Technologies in a research report on Wednesday, April 24th. Finally, JMP Securities reissued a market outperform rating and set a $490.00 target price on shares of Tyler Technologies in a research report on Friday, April 26th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Tyler Technologies has an average rating of Moderate Buy and an average target price of $519.09.

Tyler Technologies Stock Up 0.2 %

TYL stock opened at $492.05 on Wednesday. The business’s 50-day moving average is $443.38 and its two-hundred day moving average is $429.19. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $20.89 billion, a price-to-earnings ratio of 111.32, a P/E/G ratio of 4.59 and a beta of 0.76. Tyler Technologies has a fifty-two week low of $361.16 and a fifty-two week high of $500.49.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, April 24th. The technology company reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.26. The company had revenue of $512.36 million during the quarter, compared to analyst estimates of $507.79 million. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. As a group, analysts forecast that Tyler Technologies will post 7.14 earnings per share for the current year.

Insider Activity at Tyler Technologies

In other news, Director Daniel M. Pope sold 520 shares of Tyler Technologies stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total transaction of $255,413.60. Following the completion of the transaction, the director now owns 3,493 shares of the company’s stock, valued at approximately $1,715,691.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Daniel M. Pope sold 520 shares of Tyler Technologies stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total value of $255,413.60. Following the transaction, the director now owns 3,493 shares in the company, valued at $1,715,691.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 6,500 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $438.98, for a total value of $2,853,370.00. Following the completion of the transaction, the insider now directly owns 6,400 shares in the company, valued at $2,809,472. The disclosure for this sale can be found here. Insiders sold 46,049 shares of company stock worth $20,727,935 over the last 90 days. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TYL. Norges Bank purchased a new stake in shares of Tyler Technologies during the fourth quarter valued at $459,691,000. Morgan Stanley lifted its holdings in shares of Tyler Technologies by 21.1% during the 3rd quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock worth $392,208,000 after acquiring an additional 177,242 shares during the period. APG Asset Management US Inc. bought a new position in shares of Tyler Technologies during the fourth quarter valued at $57,493,000. Van ECK Associates Corp raised its position in Tyler Technologies by 13.1% in the 4th quarter. Van ECK Associates Corp now owns 868,016 shares of the technology company’s stock valued at $362,935,000 after purchasing an additional 100,788 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Tyler Technologies by 15.3% during the 1st quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock worth $226,501,000 after buying an additional 70,801 shares in 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.