Tyler Technologies (NYSE:TYL) Price Target Raised to $627.00

Tyler Technologies (NYSE:TYL) had its target price lifted by The Goldman Sachs Group from $515.00 to $627.00 in a research report sent to investors on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the technology company’s stock.

A number of other equities analysts also recently weighed in on the stock. Loop Capital lifted their target price 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. Barclays lifted their price target 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. JMP Securities lifted their price target on shares of Tyler Technologies from $490.00 to $580.00 and gave the company a market outperform rating in a research note on Monday, July 22nd. BTIG Research lifted their price target on shares of Tyler Technologies from $515.00 to $550.00 and gave the company a buy rating in a research note on Wednesday, May 22nd. Finally, DA Davidson lifted their price target on shares of Tyler Technologies from $456.00 to $525.00 and gave the company a neutral rating in a research note on Friday. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Tyler Technologies presently has a consensus rating of Moderate Buy and a consensus price target of $582.31.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock opened at $590.65 on Friday. Tyler Technologies has a fifty-two week low of $361.16 and a fifty-two week high of $593.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 0.94. The firm has a market capitalization of $25.08 billion, a P/E ratio of 133.63, a P/E/G ratio of 5.54 and a beta of 0.76. The company’s 50 day moving average price is $499.37 and its two-hundred day moving average price is $457.35.

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, beating the consensus estimate of $2.34 by $0.06. The firm had revenue of $540.98 million during 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 9.66%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.53 earnings per share. On average, equities analysts forecast that Tyler Technologies will post 6.5 earnings per share for the current fiscal year.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 2,671 shares of Tyler Technologies stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $465.03, for a total transaction of $1,242,095.13. Following the transaction, the chief financial officer now owns 13,536 shares of the company’s stock, valued at $6,294,646.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Brian K. Miller sold 800 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $479.28, for a total transaction of $383,424.00. Following the sale, the chief financial officer now owns 12,736 shares of the company’s stock, valued at $6,104,110.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brian K. Miller sold 2,671 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $465.03, for a total transaction of $1,242,095.13. Following the transaction, the chief financial officer now owns 13,536 shares in the company, valued at approximately $6,294,646.08. The disclosure for this sale can be found here. Insiders sold 21,241 shares of company stock worth $10,201,740 over the last three months. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TYL. Independence Bank of Kentucky bought a new position in shares of Tyler Technologies in the second quarter worth about $25,000. Kapitalo Investimentos Ltda bought a new position in shares of Tyler Technologies in the fourth quarter worth about $26,000. Covestor Ltd grew its holdings in Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after acquiring an additional 43 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Tyler Technologies during the 4th quarter worth about $31,000. Finally, Blue Trust Inc. grew its holdings in Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after acquiring an additional 56 shares in the last quarter. 93.30% of the stock is currently 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.