JMP Securities Raises Tyler Technologies (NYSE:TYL) Price Target to $580.00

Tyler Technologies (NYSE:TYL) had its price objective raised by JMP Securities from $490.00 to $580.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a market outperform rating on the technology company’s stock.

Several other equities analysts have also recently weighed in on the company. Needham & Company LLC lifted their price objective on Tyler Technologies from $500.00 to $600.00 and gave the company a buy rating in a report on Tuesday, May 21st. Truist Financial reaffirmed a buy rating and issued a $560.00 price target (up previously from $510.00) on shares of Tyler Technologies in a research note on Thursday, May 23rd. Barclays raised their target price on shares of Tyler Technologies from $473.00 to $515.00 and gave the company an equal weight rating in a report on Thursday, July 11th. BTIG Research upped their price target on shares of Tyler Technologies from $515.00 to $550.00 and gave the stock a buy rating in a report on Wednesday, May 22nd. Finally, Loop Capital lifted their price objective on shares of Tyler Technologies from $485.00 to $530.00 and gave the company a buy rating in a research note on Tuesday, May 21st. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Tyler Technologies has a consensus rating of Moderate Buy and an average target price of $539.17.

Tyler Technologies Stock Up 9.4 %

TYL stock opened at $564.34 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94. The business’s fifty day moving average price is $495.82 and its two-hundred day moving average price is $454.78. Tyler Technologies has a fifty-two week low of $361.16 and a fifty-two week high of $572.80. The stock has a market capitalization of $23.96 billion, a price-to-earnings ratio of 127.83, a PEG ratio of 4.94 and a beta of 0.76.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.06. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. The firm had revenue of $540.98 million during the quarter, compared to the consensus estimate of $541.01 million. During the same quarter in the previous year, the firm posted $1.53 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts anticipate that Tyler Technologies will post 7.1 earnings per share for the current year.

Insider Activity

In related news, Director Brenda A. Cline sold 5,000 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the sale, the director now owns 1,358 shares in the company, valued at approximately $623,091.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Brian K. Miller sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $479.28, for a total value of $383,424.00. Following the completion of the transaction, the chief financial officer now owns 12,736 shares in the company, valued at approximately $6,104,110.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Brenda A. Cline sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the sale, the director now directly owns 1,358 shares in the company, valued at $623,091.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,241 shares of company stock worth $12,495,890. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Hedge funds have recently modified their holdings of the business. Hills Bank & Trust Co increased its holdings in Tyler Technologies by 33.3% in the second quarter. Hills Bank & Trust Co now owns 869 shares of the technology company’s stock valued at $437,000 after purchasing an additional 217 shares during the period. Independence Bank of Kentucky acquired a new stake in shares of Tyler Technologies in the second quarter valued at about $25,000. Retirement Systems of Alabama raised its position in shares of Tyler Technologies by 0.7% during the second quarter. Retirement Systems of Alabama now owns 9,365 shares of the technology company’s stock worth $4,709,000 after acquiring an additional 68 shares during the last quarter. &PARTNERS acquired a new position in shares of Tyler Technologies in the second quarter worth approximately $565,000. Finally, Fifth Third Bancorp boosted its holdings in Tyler Technologies by 4.1% in the second quarter. Fifth Third Bancorp now owns 1,140 shares of the technology company’s stock valued at $573,000 after acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds 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.