The Goldman Sachs Group Issues Positive Forecast for Tyler Technologies (NYSE:TYL) Stock Price

Tyler Technologies (NYSE:TYL) had its price target upped by investment analysts at The Goldman Sachs Group from $660.00 to $728.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 13.73% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on TYL. DA Davidson restated a “neutral” rating and issued a $575.00 price objective on shares of Tyler Technologies in a report on Thursday, January 30th. JMP Securities upped their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a report on Friday, October 25th. Barclays upped their price objective on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company reiterated an “equal weight” rating and issued a $615.00 target price (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Finally, Truist Financial reiterated a “buy” rating and issued a $775.00 target price (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $676.25.

Tyler Technologies Trading Down 0.2 %

Shares of TYL stock traded down $1.57 during mid-day trading on Tuesday, reaching $640.13. The stock had a trading volume of 355,198 shares, compared to its average volume of 243,991. Tyler Technologies has a 52-week low of $397.80 and a 52-week high of $661.31. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average price is $596.62 and its two-hundred day moving average price is $594.99. The firm has a market capitalization of $27.40 billion, a PE ratio of 116.81, a price-to-earnings-growth ratio of 4.78 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Equities analysts expect that Tyler Technologies will post 7.36 earnings per share for the current fiscal year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total value of $3,801,300.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,424,079.65. This trade represents a 46.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 3,250 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $631.41, for a total transaction of $2,052,082.50. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $47,355,750. The trade was a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $18,941,368 over the last quarter. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of TYL. Larson Financial Group LLC increased its stake in shares of Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after purchasing an additional 31 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Tyler Technologies in the third quarter worth $27,000. Sierra Ocean LLC purchased a new stake in shares of Tyler Technologies in the fourth quarter worth $32,000. Brown Brothers Harriman & Co. increased its stake in shares of Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock worth $32,000 after purchasing an additional 42 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in Tyler Technologies during the fourth quarter valued at $40,000. 93.30% of the stock is owned by hedge funds and other 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.