Tyler Technologies (NYSE:TYL) Price Target Raised to $728.00

Tyler Technologies (NYSE:TYL) had its price objective hoisted by The Goldman Sachs Group from $660.00 to $728.00 in a research note released on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the technology company’s stock.

Several other research analysts have also issued reports on TYL. StockNews.com upgraded Tyler Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company restated an “equal weight” rating and set a $615.00 target price (down previously from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Robert W. Baird boosted their target price on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Piper Sandler increased their price target on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, DA Davidson restated a “neutral” rating and set a $575.00 price objective on shares of Tyler Technologies in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $676.25.

Tyler Technologies Stock Performance

Tyler Technologies stock opened at $628.12 on Tuesday. The company has a market cap of $26.88 billion, a PE ratio of 103.65, a PEG ratio of 5.01 and a beta of 0.78. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies has a 1 year low of $397.80 and a 1 year high of $661.31. The company’s 50-day moving average is $597.45 and its two-hundred day moving average is $596.01.

Tyler Technologies (NYSE:TYL) last posted its quarterly 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 10.15% and a net margin of 12.30%. Equities analysts anticipate that Tyler Technologies will post 8.52 earnings per share for the current year.

Insider Activity

In related news, CFO Brian K. Miller sold 6,752 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $613.75, for a total value of $4,144,040.00. Following the sale, the chief financial officer now directly owns 11,918 shares of the company’s stock, valued at approximately $7,314,672.50. The trade was a 36.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 3,250 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $47,355,750. The trade was a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $18,941,368 over the last quarter. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tyler Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC boosted its position in Tyler Technologies by 221.4% during the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after acquiring an additional 31 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Tyler Technologies in the third quarter worth $27,000. Sierra Ocean LLC bought a new stake in shares of Tyler Technologies in the fourth quarter worth $32,000. Brown Brothers Harriman & Co. boosted its holdings in Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock worth $32,000 after purchasing an additional 42 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in Tyler Technologies in the fourth quarter valued at $40,000. 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.