Tyler Technologies (NYSE:TYL) Given Buy Rating at Truist Financial

Tyler Technologies (NYSE:TYL)‘s stock had its “buy” rating reaffirmed by analysts at Truist Financial in a note issued to investors on Friday, Benzinga reports. They currently have a $685.00 price objective on the technology company’s stock, up from their prior price objective of $600.00. Truist Financial’s price target indicates a potential upside of 11.59% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Barclays raised shares of 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 report on Monday, October 7th. JMP Securities increased their target price on shares of Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a report on Monday, July 22nd. DA Davidson increased their target price on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird increased their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday. Finally, BTIG Research increased their target price on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $633.00.

Tyler Technologies Stock Up 0.4 %

Shares of TYL traded up $2.17 during trading hours on Friday, hitting $613.84. The company had a trading volume of 27,978 shares, compared to its average volume of 227,138. The firm has a fifty day moving average price of $584.45 and a 200-day moving average price of $525.37. Tyler Technologies has a 52-week low of $361.16 and a 52-week high of $631.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $26.19 billion, a price-to-earnings ratio of 126.53, a P/E/G ratio of 5.42 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The firm had revenue of $543.34 million for the quarter, compared to analysts’ expectations of $547.34 million. During the same quarter in the prior year, the business earned $1.66 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities research analysts forecast that Tyler Technologies will post 7.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Brian K. Miller sold 2,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 11,950 shares of the company’s stock, valued at $6,787,122. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Daniel M. Pope sold 275 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the transaction, the director now owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 2,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $6,787,122. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,375 shares of company stock worth $17,049,739. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tyler Technologies

Several hedge funds have recently bought and sold shares of TYL. Wealth Enhancement Advisory Services LLC lifted its stake in Tyler Technologies by 64.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,032 shares of the technology company’s stock worth $864,000 after acquiring an additional 798 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Tyler Technologies by 18.5% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 101,435 shares of the technology company’s stock worth $43,111,000 after acquiring an additional 15,871 shares in the last quarter. Wasatch Advisors LP raised its position in Tyler Technologies by 68.0% in the 1st quarter. Wasatch Advisors LP now owns 2,982 shares of the technology company’s stock valued at $1,267,000 after purchasing an additional 1,207 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Tyler Technologies by 119.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 6,517 shares of the technology company’s stock valued at $2,770,000 after purchasing an additional 3,544 shares in the last quarter. Finally, HB Wealth Management LLC raised its position in Tyler Technologies by 4.5% in the 1st quarter. HB Wealth Management LLC now owns 840 shares of the technology company’s stock valued at $357,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

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.