Tyler Technologies (NYSE:TYL) Coverage Initiated at BTIG Research

Analysts at BTIG Research began coverage on shares of Tyler Technologies (NYSE:TYL) in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $560.00 price target on the technology company’s stock. BTIG Research’s price target would suggest a potential upside of 24.12% from the company’s previous close.

A number of other analysts have also issued reports on TYL. Oppenheimer reiterated an “outperform” rating and set a $600.00 price target on shares of Tyler Technologies in a research note on Thursday, October 30th. DA Davidson dropped their price objective on shares of Tyler Technologies from $540.00 to $510.00 and set a “neutral” rating for the company in a report on Tuesday, December 9th. Robert W. Baird set a $660.00 target price on shares of Tyler Technologies in a report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Tyler Technologies in a research report on Tuesday, October 14th. Finally, Cowen began coverage on Tyler Technologies in a research report on Friday, December 12th. They set a “buy” rating on the stock. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $649.31.

Tyler Technologies Stock Performance

NYSE:TYL opened at $451.18 on Tuesday. Tyler Technologies has a fifty-two week low of $445.64 and a fifty-two week high of $661.31. The company has a 50 day moving average price of $476.42 and a 200 day moving average price of $532.01. The stock has a market capitalization of $19.41 billion, a P/E ratio of 62.75, a PEG ratio of 3.43 and a beta of 0.91.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, October 29th. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.88 by $0.09. Tyler Technologies had a return on equity of 10.57% and a net margin of 13.72%.The company had revenue of $595.88 million for the quarter, compared to analyst estimates of $594.34 million. During the same quarter in the previous year, the company earned $2.52 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. Tyler Technologies has set its FY 2025 guidance at 11.300-11.500 EPS. Research analysts forecast that Tyler Technologies will post 8.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 1,000 shares of Tyler Technologies stock in a transaction on Monday, December 15th. The shares were sold at an average price of $448.51, for a total transaction of $448,510.00. Following the completion of the sale, the chief financial officer directly owned 17,148 shares of the company’s stock, valued at approximately $7,691,049.48. The trade was a 5.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glenn A. Carter sold 500 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $458.73, for a total transaction of $229,365.00. Following the transaction, the director owned 3,172 shares of the company’s stock, valued at approximately $1,455,091.56. The trade was a 13.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,500 shares of company stock worth $1,146,955 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. DLD Asset Management LP purchased a new stake in Tyler Technologies during the second quarter worth approximately $5,780,190,000. Vanguard Group Inc. lifted its position in shares of Tyler Technologies by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 5,805,036 shares of the technology company’s stock worth $3,036,963,000 after buying an additional 234,916 shares during the last quarter. State Street Corp boosted its holdings in shares of Tyler Technologies by 1.8% in the 3rd quarter. State Street Corp now owns 1,947,850 shares of the technology company’s stock valued at $1,019,037,000 after buying an additional 34,178 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Tyler Technologies by 11.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,410,640 shares of the technology company’s stock valued at $738,010,000 after buying an additional 144,612 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Tyler Technologies by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,206,406 shares of the technology company’s stock worth $713,144,000 after acquiring an additional 30,686 shares in the last quarter. Hedge funds and other 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.