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

Tyler Technologies (NYSE:TYL)‘s stock had its “buy” rating reiterated by Truist Financial in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $600.00 price objective on the technology company’s stock, up from their previous price objective of $560.00. Truist Financial’s target price would suggest a potential upside of 4.53% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Barclays upped their target price on shares of Tyler Technologies from $473.00 to $515.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. BTIG Research upped their target price on shares of Tyler Technologies from $515.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Needham & Company LLC reiterated a “buy” rating and set a $600.00 target price on shares of Tyler Technologies in a research report on Thursday. Oppenheimer upped their target price on shares of Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, JMP Securities boosted their price target on shares of Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $559.17.

Tyler Technologies Stock Performance

Shares of NYSE:TYL traded up $9.66 on Friday, hitting $574.00. 9,596 shares of the company were exchanged, compared to its average volume of 220,001. The company’s 50 day moving average price is $495.82 and its two-hundred day moving average price is $454.78. Tyler Technologies has a one year low of $361.16 and a one year high of $574.00. 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 firm has a market capitalization of $24.37 billion, a price-to-earnings ratio of 129.86, a PEG ratio of 4.84 and a beta of 0.76.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $541.01 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.82%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.53 EPS. 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 other Tyler Technologies news, Director Brenda A. Cline sold 5,000 shares of the stock in a transaction on 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 owns 1,358 shares in the company, valued at $623,091.14. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Daniel M. Pope sold 520 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $491.18, for a total transaction of $255,413.60. Following the completion of the sale, the director now owns 3,493 shares in the company, valued at approximately $1,715,691.74. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Brenda A. Cline sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the sale, the director now owns 1,358 shares of the company’s stock, valued at approximately $623,091.14. The disclosure for this sale can be found here. Insiders sold a total of 26,241 shares of company stock worth $12,495,890 over the last quarter. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Tyler Technologies

A number of hedge funds have recently modified their holdings of the stock. Industrial Alliance Investment Management Inc. lifted its stake in shares of Tyler Technologies by 4.4% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company’s stock worth $295,000 after buying an additional 29 shares during the last quarter. Centered Wealth LLC dba Miller Equity Capital Advisors increased its position in Tyler Technologies by 0.8% during the fourth quarter. Centered Wealth LLC dba Miller Equity Capital Advisors now owns 3,920 shares of the technology company’s stock worth $1,639,000 after acquiring an additional 30 shares during the period. GW&K Investment Management LLC increased its position in Tyler Technologies by 0.3% during the fourth quarter. GW&K Investment Management LLC now owns 12,044 shares of the technology company’s stock worth $5,035,000 after acquiring an additional 31 shares during the period. Avantax Advisory Services Inc. increased its position in Tyler Technologies by 5.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 670 shares of the technology company’s stock worth $280,000 after acquiring an additional 33 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in Tyler Technologies by 3.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,044 shares of the technology company’s stock worth $444,000 after acquiring an additional 33 shares during the period. 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.