BTIG Research Issues Positive Forecast for Tyler Technologies (NYSE:TYL) Stock Price

Tyler Technologies (NYSE:TYL) had its price objective lifted by research analysts at BTIG Research from $400.00 to $430.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. BTIG Research‘s price objective indicates a potential upside of 15.36% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. DA Davidson reiterated a “buy” rating and issued a $460.00 price target on shares of Tyler Technologies in a report on Tuesday. Guggenheim assumed coverage on Tyler Technologies in a report on Wednesday, July 22nd. They set a “buy” rating and a $440.00 target price on the stock. Weiss Ratings upgraded Tyler Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 22nd. Needham & Company LLC upped their target price on shares of Tyler Technologies from $400.00 to $500.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Zacks Research lowered shares of Tyler Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $444.44.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock opened at $372.75 on Friday. The firm has a market capitalization of $15.26 billion, a PE ratio of 38.15, a price-to-earnings-growth ratio of 2.38 and a beta of 0.85. The business’s 50-day moving average price is $350.98 and its 200-day moving average price is $337.76. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.46. Tyler Technologies has a 12 month low of $270.71 and a 12 month high of $489.92.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, October 28th. The technology company reported $3.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.48 by $0.04. Tyler Technologies had a return on equity of 11.64% and a net margin of 13.51%. The business had revenue of $647.57 million for the quarter, compared to analyst estimates of $651.52 million. During the same period last year, the company earned $2.91 EPS. Tyler Technologies’s revenue for the quarter was up 8.7% compared to the same quarter last year. Sell-side analysts forecast that Tyler Technologies will post 10.13 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In other news, COO Jeffrey Puckett sold 8,500 shares of Tyler Technologies stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $356.44, for a total transaction of $3,029,740.00. Following the transaction, the chief operating officer directly owned 7,784 shares of the company’s stock, valued at $2,774,528.96. The trade was a 52.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 9,250 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $372.79, for a total transaction of $3,448,307.50. Following the sale, the chief executive officer owned 100,392 shares in the company, valued at approximately $37,425,133.68. The trade was a 8.44% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Raiffeisen Bank International AG boosted its stake in shares of Tyler Technologies by 259.3% in the second quarter. Raiffeisen Bank International AG now owns 97 shares of the technology company’s stock worth $28,000 after acquiring an additional 70 shares during the period. Quantbot Technologies LP bought a new stake in Tyler Technologies during the 2nd quarter valued at approximately $35,000. Pin Oak Investment Advisors Inc. purchased a new position in Tyler Technologies in the 2nd quarter worth approximately $37,000. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Tyler Technologies by 75.0% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 147 shares of the technology company’s stock worth $50,000 after purchasing an additional 63 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Tyler Technologies by 235.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 161 shares of the technology company’s stock worth $54,000 after purchasing an additional 113 shares during the period. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated software and technology services to public-sector organizations. Its customers include municipalities, counties, states, courts, school districts, public safety agencies, and other government entities. The company’s solutions are designed to help public organizations manage operations, improve service delivery, and engage with residents and constituents.

Tyler’s product portfolio includes enterprise resource planning and financial management software, property tax and appraisal systems, court and justice solutions, public safety and emergency communications platforms, permitting and licensing tools, and software for schools and elections.