Tyler Technologies (NYSE:TYL) Given New $515.00 Price Target at Barclays

Tyler Technologies (NYSE:TYL) had its price objective increased by equities research analysts at Barclays from $473.00 to $515.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Barclays‘s price objective points to a potential upside of 0.67% from the stock’s current price.

Several other equities analysts have also issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $490.00 price objective on shares of Tyler Technologies in a report on Friday, April 26th. Loop Capital lifted their price target on Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Needham & Company LLC increased their price objective on Tyler Technologies from $500.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Oppenheimer raised their target price on shares of Tyler Technologies from $500.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 22nd. Finally, Robert W. Baird upped their price target on shares of Tyler Technologies from $500.00 to $525.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $527.27.

Tyler Technologies Stock Down 0.1 %

Shares of TYL traded down $0.30 during midday trading on Thursday, reaching $511.58. The stock had a trading volume of 49,848 shares, compared to its average volume of 217,952. The company has a market cap of $21.72 billion, a price-to-earnings ratio of 115.74, a PEG ratio of 4.80 and a beta of 0.76. The company’s fifty day simple moving average is $486.96 and its two-hundred day simple moving average is $446.97. Tyler Technologies has a 1-year low of $361.16 and a 1-year high of $521.03. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.26. The company had revenue of $512.36 million for the quarter, compared to analysts’ expectations of $507.79 million. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. Equities research analysts expect that Tyler Technologies will post 7.1 earnings per share for the current year.

Insider Buying and Selling at Tyler Technologies

In related news, Director Brenda A. Cline sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $458.83, for a total value of $2,294,150.00. Following the sale, the director now owns 1,358 shares in the company, valued at approximately $623,091.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Brian K. Miller sold 800 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $479.28, for a total value of $383,424.00. Following the sale, the chief financial officer now directly owns 12,736 shares in the company, valued at $6,104,110.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brenda A. Cline sold 5,000 shares of Tyler Technologies stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $458.83, for a total value of $2,294,150.00. Following the transaction, the director now owns 1,358 shares of the company’s stock, valued at $623,091.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,241 shares of company stock valued at $12,495,890. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

A number of institutional investors have recently made changes to their positions in the stock. Comerica Bank purchased a new stake in Tyler Technologies during the 3rd quarter worth about $5,433,000. EP Wealth Advisors LLC acquired a new position in shares of Tyler Technologies in the third quarter valued at approximately $261,000. Wellington Management Group LLP lifted its stake in shares of Tyler Technologies by 2.1% during the third quarter. Wellington Management Group LLP now owns 4,881 shares of the technology company’s stock valued at $1,885,000 after buying an additional 101 shares during the period. Headinvest LLC acquired a new stake in Tyler Technologies during the third quarter worth approximately $78,000. Finally, Vanguard Group Inc. grew its stake in Tyler Technologies by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,913,419 shares of the technology company’s stock worth $1,897,268,000 after acquiring an additional 29,578 shares during the period. 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.