DA Davidson Increases Tyler Technologies (NYSE:TYL) Price Target to $550.00

Tyler Technologies (NYSE:TYL) had its price objective lifted by DA Davidson from $525.00 to $550.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

Several other analysts have also recently issued reports on the company. JMP Securities increased their target price on Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a research report on Monday, July 22nd. Barclays upgraded Tyler Technologies from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $577.00 to $700.00 in a research report on Monday, October 7th. Needham & Company LLC reissued a “buy” rating and set a $600.00 price target on shares of Tyler Technologies in a research note on Thursday, July 25th. The Goldman Sachs Group reissued a “buy” rating and set a $627.00 price target on shares of Tyler Technologies in a research note on Friday, September 13th. Finally, Oppenheimer increased their price target on Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $593.69.

Tyler Technologies Stock Performance

Shares of TYL opened at $588.23 on Thursday. 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 52 week low of $361.16 and a 52 week high of $606.93. The business has a 50-day simple moving average of $583.30 and a two-hundred day simple moving average of $519.27. The stock has a market cap of $25.10 billion, a price-to-earnings ratio of 121.54, a PEG ratio of 5.55 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.06. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The firm had revenue of $540.98 million during the quarter, compared to analysts’ expectations of $541.01 million. During the same quarter last year, the business posted $1.53 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. On average, analysts expect that Tyler Technologies will post 7.21 EPS for the current year.

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total value of $3,603,062.50. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $43,236,750. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Brian K. Miller sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $567.96, for a total value of $1,135,920.00. Following the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $6,787,122. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total value of $3,603,062.50. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $43,236,750. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,375 shares of company stock valued at $17,049,739 in the last ninety days. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Several hedge funds and other institutional investors have recently modified their holdings of TYL. Independence Bank of Kentucky purchased a new stake in shares of Tyler Technologies in the second quarter worth approximately $25,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Tyler Technologies in the fourth quarter worth approximately $26,000. Covestor Ltd raised 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 worth $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 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after purchasing an additional 56 shares during the period. Finally, Lynx Investment Advisory purchased a new position in Tyler Technologies during the 2nd quarter worth $38,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

About Tyler Technologies

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.