Tyler Technologies, Inc. (NYSE:TYL) Receives $642.62 Consensus Price Target from Analysts

Tyler Technologies, Inc. (NYSE:TYL) has earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $642.62.

TYL has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. StockNews.com cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. The Goldman Sachs Group restated a “buy” rating and issued a $627.00 target price on shares of Tyler Technologies in a report on Friday, September 13th. Piper Sandler increased their price target on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Truist Financial reissued a “buy” rating and issued a $685.00 price objective (up from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $584.17 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. Tyler Technologies has a 52 week low of $397.80 and a 52 week high of $638.56. The firm has a market cap of $25.00 billion, a PE ratio of 106.60, a price-to-earnings-growth ratio of 5.54 and a beta of 0.76. The firm’s fifty day moving average is $608.52 and its 200-day moving average is $578.14.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.43 by $0.09. The firm had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.66 EPS. Sell-side analysts predict that Tyler Technologies will post 7.36 earnings per share for the current year.

Insider Transactions at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $613.66, for a total value of $7,363,920.00. Following the transaction, the insider now owns 6,983 shares in the company, valued at $4,285,187.78. This trade represents a 63.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian K. Miller sold 3,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total value of $1,808,160.00. Following the sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at $7,202,504. This trade represents a 20.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,252 shares of company stock valued at $26,096,928 over the last ninety days. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tyler Technologies

Large investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new position in shares of Tyler Technologies in the 3rd quarter worth approximately $27,000. International Assets Investment Management LLC purchased a new position in Tyler Technologies in the second quarter worth $61,000. Tobam bought a new position in Tyler Technologies in the 3rd quarter valued at $78,000. Quarry LP purchased a new stake in shares of Tyler Technologies during the 3rd quarter valued at $78,000. Finally, Brooklyn Investment Group bought a new stake in shares of Tyler Technologies during the 3rd quarter worth $79,000. 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.