Tyler Technologies (NYSE:TYL) PT Raised to $625.00

Tyler Technologies (NYSE:TYL) had its price target raised by Oppenheimer from $550.00 to $625.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price objective suggests a potential upside of 10.75% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Truist Financial reissued a “buy” rating and set a $560.00 target price (up previously from $510.00) on shares of Tyler Technologies in a research report on Thursday, May 23rd. Barclays increased their price objective on Tyler Technologies from $473.00 to $515.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Piper Sandler reissued an “overweight” rating and issued a $520.00 price target on shares of Tyler Technologies in a report on Wednesday, April 24th. JMP Securities boosted their price objective on shares of Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a report on Monday. Finally, BTIG Research lifted their target price on Tyler Technologies from $515.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $554.17.

Tyler Technologies Price Performance

NYSE TYL opened at $564.34 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $23.96 billion, a PE ratio of 127.68, a price-to-earnings-growth ratio of 4.84 and a beta of 0.76. Tyler Technologies has a 12-month low of $361.16 and a 12-month high of $572.80. The company has a 50 day moving average price of $495.82 and a two-hundred day moving average price of $454.78.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.06. The company had revenue of $540.98 million during the quarter, compared to the consensus estimate of $541.01 million. Tyler Technologies had a return on equity of 9.82% and a net margin of 10.24%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.53 EPS. As a group, equities analysts predict that Tyler Technologies will post 7.1 earnings per share for the current fiscal year.

Insider Activity at Tyler Technologies

In other news, CFO Brian K. Miller sold 800 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $479.28, for a total value of $383,424.00. Following the transaction, the chief financial officer now owns 12,736 shares of the company’s stock, valued at approximately $6,104,110.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tyler Technologies news, CFO Brian K. Miller sold 800 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $479.28, for a total transaction of $383,424.00. Following the transaction, the chief financial officer now owns 12,736 shares in the company, valued at $6,104,110.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Brenda A. Cline sold 5,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $458.83, for a total value of $2,294,150.00. Following the completion of the sale, the director now directly owns 1,358 shares of the company’s stock, valued at $623,091.14. The disclosure for this sale can be found here. Insiders have sold a total of 26,241 shares of company stock worth $12,495,890 over the last 90 days. Insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Tyler Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 5,022,053 shares of the technology company’s stock valued at $2,134,423,000 after purchasing an additional 53,005 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Tyler Technologies by 3.3% in the first quarter. Principal Financial Group Inc. now owns 1,309,715 shares of the technology company’s stock valued at $556,642,000 after buying an additional 41,485 shares during the period. Norges Bank bought a new stake in shares of Tyler Technologies during the fourth quarter worth $459,691,000. Franklin Resources Inc. raised its holdings in shares of Tyler Technologies by 6.7% during the fourth quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock worth $434,987,000 after acquiring an additional 64,889 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Tyler Technologies by 6.3% during the first quarter. Van ECK Associates Corp now owns 922,942 shares of the technology company’s stock worth $392,259,000 after buying an additional 54,926 shares during the period. Institutional investors own 93.30% of the company’s stock.

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.