Tyler Technologies (NYSE:TYL) PT Raised to $515.00

Tyler Technologies (NYSE:TYL) had its target price boosted by Barclays from $473.00 to $515.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

Several other equities analysts also recently issued reports on TYL. Piper Sandler reissued an overweight rating and set a $520.00 price target on shares of Tyler Technologies in a report on Wednesday, April 24th. BTIG Research boosted their target price on Tyler Technologies from $515.00 to $550.00 and gave the stock a buy rating in a report on Wednesday, May 22nd. Loop Capital raised their price target on Tyler Technologies from $485.00 to $530.00 and gave the company a buy rating in a report on Tuesday, May 21st. Needham & Company LLC increased their target price on Tyler Technologies from $500.00 to $600.00 and gave the stock a buy rating in a report on Tuesday, May 21st. Finally, Robert W. Baird upped their price target on shares of Tyler Technologies from $500.00 to $525.00 and gave the stock an outperform rating in a research report on Friday, April 26th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $527.27.

Tyler Technologies Trading Up 1.7 %

TYL stock opened at $523.08 on Thursday. Tyler Technologies has a 1-year low of $361.16 and a 1-year high of $525.56. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $489.03 and its 200-day moving average is $448.64. The firm has a market cap of $22.21 billion, a P/E ratio of 118.34, a P/E/G ratio of 4.91 and a beta of 0.76.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.26. The firm had revenue of $512.36 million for the quarter, compared to analysts’ expectations of $507.79 million. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. Equities analysts anticipate that Tyler Technologies will post 7.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $483.21, for a total value of $2,899,260.00. Following the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at $3,374,255.43. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $481.83, for a total transaction of $2,529,607.50. Following the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $36,137,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $483.21, for a total transaction of $2,899,260.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $3,374,255.43. The disclosure for this sale can be found here. Insiders sold a total of 26,241 shares of company stock valued at $12,495,890 over the last ninety days. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kapitalo Investimentos Ltda acquired a new stake in shares of Tyler Technologies during the fourth quarter worth $26,000. Covestor Ltd lifted its holdings in shares of Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after purchasing an additional 43 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Tyler Technologies during the fourth quarter worth about $31,000. Lynx Investment Advisory acquired a new position in shares of Tyler Technologies during the second quarter worth about $38,000. Finally, Larson Financial Group LLC grew its holdings in shares of Tyler Technologies by 675.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the technology company’s stock worth $40,000 after buying an additional 81 shares in the last quarter. 93.30% of the stock is owned by institutional investors.

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.