BTIG Research Has Lowered Expectations for Tyler Technologies (NYSE:TYL) Stock Price

Tyler Technologies (NYSE:TYL) had its price target reduced by equities researchers at BTIG Research from $560.00 to $470.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. BTIG Research’s price target indicates a potential upside of 34.87% from the company’s current price.

TYL has been the subject of several other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Tyler Technologies in a research report on Friday, January 9th. Oppenheimer reduced their price objective on shares of Tyler Technologies from $600.00 to $510.00 and set an “outperform” rating on the stock in a report on Friday, January 23rd. The Goldman Sachs Group assumed coverage on shares of Tyler Technologies in a research report on Tuesday, January 13th. They issued a “buy” rating and a $560.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $750.00 price target on shares of Tyler Technologies in a research report on Tuesday, February 3rd. Finally, Piper Sandler reduced their price target on shares of Tyler Technologies from $708.00 to $671.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $601.14.

Tyler Technologies Trading Up 2.2%

Shares of TYL opened at $348.49 on Monday. Tyler Technologies has a 12-month low of $320.23 and a 12-month high of $661.31. The firm has a market capitalization of $15.00 billion, a P/E ratio of 48.47, a P/E/G ratio of 2.35 and a beta of 0.91. The firm has a 50-day moving average price of $436.77 and a 200 day moving average price of $493.54.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, Director Glenn A. Carter sold 500 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $458.73, for a total value of $229,365.00. Following the completion of the transaction, the director owned 3,172 shares of the company’s stock, valued at $1,455,091.56. This trade represents a 13.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brian K. Miller sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $469.08, for a total value of $469,080.00. Following the sale, the chief financial officer directly owned 12,781 shares in the company, valued at $5,995,311.48. This represents a 7.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 3,500 shares of company stock valued at $1,605,605 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Tyler Technologies

Large investors have recently made changes to their positions in the company. Generali Asset Management SPA SGR purchased a new position in Tyler Technologies in the second quarter worth approximately $30,000. Root Financial Partners LLC acquired a new stake in shares of Tyler Technologies in the 3rd quarter valued at $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Tyler Technologies during the 2nd quarter worth $32,000. Salomon & Ludwin LLC grew its stake in shares of Tyler Technologies by 6,100.0% during the fourth quarter. Salomon & Ludwin LLC now owns 62 shares of the technology company’s stock worth $27,000 after purchasing an additional 61 shares in the last quarter. Finally, Elyxium Wealth LLC purchased a new position in Tyler Technologies in the fourth quarter valued at $29,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.