Tyler Technologies (NYSE:TYL) Receives Buy Rating from Truist Financial

Truist Financial reaffirmed their buy rating on shares of Tyler Technologies (NYSE:TYL) in a research note published on Thursday, Benzinga reports. They currently have a $560.00 price target on the technology company’s stock, up from their prior price target of $510.00.

Several other equities analysts have also commented on TYL. Robert W. Baird boosted their price target on Tyler Technologies from $500.00 to $525.00 and gave the stock an outperform rating in a research report on Friday, April 26th. JPMorgan Chase & Co. boosted their target price on shares of Tyler Technologies from $500.00 to $526.00 and gave the stock an overweight rating in a research report on Thursday, February 15th. Loop Capital raised their price target on shares of Tyler Technologies from $485.00 to $530.00 and gave the company a buy rating in a report on Tuesday, May 21st. Oppenheimer boosted their price objective on shares of Tyler Technologies from $500.00 to $550.00 and gave the stock an outperform rating in a report on Wednesday, May 22nd. Finally, DA Davidson raised their target price on Tyler Technologies from $412.00 to $434.00 and gave the company a neutral rating in a research note on Thursday, February 22nd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $519.09.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $492.05 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20. The company has a market cap of $20.89 billion, a PE ratio of 111.32, a P/E/G ratio of 4.59 and a beta of 0.76. The company’s fifty day simple moving average is $443.38 and its 200-day simple moving average is $429.31. Tyler Technologies has a 52 week low of $361.16 and a 52 week high of $500.49.

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

Insider Activity

In related news, Director Glenn A. Carter sold 1,650 shares of Tyler Technologies stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $437.84, for a total value of $722,436.00. Following the completion of the transaction, the director now directly owns 2,011 shares in the company, valued at $880,496.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tyler Technologies news, Director Glenn A. Carter sold 1,650 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $437.84, for a total transaction of $722,436.00. Following the sale, the director now directly owns 2,011 shares of the company’s stock, valued at $880,496.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 6,500 shares of Tyler Technologies stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $427.82, for a total transaction of $2,780,830.00. Following the completion of the transaction, the insider now directly owns 6,400 shares of the company’s stock, valued at $2,738,048. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,549 shares of company stock worth $15,659,615. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tyler Technologies

Several institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas grew its stake in Tyler Technologies by 2.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 3,246 shares of the technology company’s stock worth $1,253,000 after buying an additional 79 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Tyler Technologies during the third quarter worth about $275,000. Nomura Asset Management Co. Ltd. grew its position in shares of Tyler Technologies by 5.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 10,761 shares of the technology company’s stock worth $4,155,000 after acquiring an additional 546 shares during the last quarter. Ieq Capital LLC increased its holdings in shares of Tyler Technologies by 19.8% in the 3rd quarter. Ieq Capital LLC now owns 774 shares of the technology company’s stock worth $299,000 after acquiring an additional 128 shares during the period. Finally, Lincoln National Corp bought a new stake in Tyler Technologies in the 3rd quarter valued at about $207,000. 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.