Tyler Technologies (NYSE:TYL) Rating Reiterated by Truist Financial

Tyler Technologies (NYSE:TYL)‘s stock had its “buy” rating reissued by equities researchers at Truist Financial in a research note issued on Friday, Benzinga reports. They presently have a $685.00 price objective on the technology company’s stock, up from their previous price objective of $600.00. Truist Financial’s price objective points to a potential upside of 13.06% from the company’s current price.

TYL has been the subject of several other reports. JMP Securities boosted their target price on shares of Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a research report on Monday, July 22nd. DA Davidson boosted their price objective on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Barclays upgraded Tyler Technologies from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $577.00 to $700.00 in a report on Monday, October 7th. Piper Sandler upped their price target on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a report on Friday. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $627.00 price target on shares of Tyler Technologies in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Stock Down 0.9 %

Tyler Technologies stock opened at $605.86 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. Tyler Technologies has a 12-month low of $361.16 and a 12-month high of $631.43. The firm’s fifty day moving average is $584.88 and its 200 day moving average is $527.40. The company has a market capitalization of $25.72 billion, a PE ratio of 137.07, a PEG ratio of 5.42 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The company had revenue of $543.34 million for the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. Tyler Technologies’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $1.66 EPS. As a group, sell-side analysts predict that Tyler Technologies will post 7.21 EPS for the current fiscal year.

Insider Activity

In related news, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $578.26, for a total transaction of $159,021.50. Following the completion of the transaction, the director now directly owns 3,218 shares of the company’s stock, valued at $1,860,840.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $576.62, for a total value of $2,883,100.00. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $43,246,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel M. Pope sold 275 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the completion of the transaction, the director now owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,375 shares of company stock worth $17,049,739. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Independence Bank of Kentucky bought a new stake in shares of Tyler Technologies during the 2nd quarter valued at about $25,000. Covestor Ltd grew its position in Tyler Technologies by 153.6% during the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after buying an additional 43 shares during the period. Blue Trust Inc. increased its holdings in Tyler Technologies by 329.4% during the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after buying an additional 56 shares during the last quarter. Lynx Investment Advisory purchased a new stake in Tyler Technologies during the second quarter valued at approximately $38,000. Finally, Larson Financial Group LLC raised its position in Tyler Technologies by 675.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the technology company’s stock worth $40,000 after acquiring an additional 81 shares during the period. 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.