Tyler Technologies (NYSE:TYL) Price Target Raised to $715.00

Tyler Technologies (NYSE:TYL) had its price objective upped by equities researchers at Barclays from $705.00 to $715.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price target would indicate a potential upside of 11.30% from the company’s previous close.

Other research analysts also recently issued reports about the company. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Truist Financial reiterated a “buy” rating and set a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Piper Sandler raised their price target on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 price objective on shares of Tyler Technologies in a research report on Tuesday, January 21st. Finally, DA Davidson reissued a “neutral” rating and set a $575.00 target price on shares of Tyler Technologies in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $667.83.

Tyler Technologies Trading Down 0.7 %

NYSE:TYL opened at $642.39 on Friday. The company’s 50 day moving average is $596.21 and its 200-day moving average is $594.29. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies has a 12 month low of $397.80 and a 12 month high of $661.31. The firm has a market cap of $27.49 billion, a price-to-earnings ratio of 117.22, a P/E/G ratio of 4.78 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. Equities analysts anticipate that Tyler Technologies will post 7.36 EPS for the current year.

Insider Buying and Selling

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,424,079.65. This trade represents a 46.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 3,250 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $631.41, for a total transaction of $2,052,082.50. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $47,355,750. The trade was a 4.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $18,941,368 in the last 90 days. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Tyler Technologies by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company’s stock valued at $3,062,190,000 after purchasing an additional 62,420 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Tyler Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company’s stock worth $654,406,000 after purchasing an additional 27,826 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Tyler Technologies by 7.9% in the fourth quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company’s stock valued at $567,768,000 after buying an additional 71,869 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Tyler Technologies by 3.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 939,373 shares of the technology company’s stock valued at $541,680,000 after buying an additional 35,198 shares during the last quarter. Finally, Norges Bank acquired a new position in Tyler Technologies during the 4th quarter worth about $528,465,000. Institutional investors 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.