Tyler Technologies (NYSE:TYL) Price Target Raised to $625.00

Tyler Technologies (NYSE:TYL) had its price objective increased by Oppenheimer from $550.00 to $625.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

A number of other research firms have also recently weighed in on TYL. Barclays increased their price target on Tyler Technologies from $473.00 to $515.00 and gave the stock an equal weight rating in a report on Thursday, July 11th. BTIG Research increased their price target on Tyler Technologies from $515.00 to $550.00 and gave the stock a buy rating in a report on Wednesday, May 22nd. Wells Fargo & Company increased their price target on Tyler Technologies from $550.00 to $580.00 and gave the stock an overweight rating in a report on Thursday, July 18th. Robert W. Baird increased their price target on Tyler Technologies from $500.00 to $525.00 and gave the stock an outperform rating in a report on Friday, April 26th. Finally, Truist Financial reiterated a buy rating and set a $560.00 price target (up from $510.00) on shares of Tyler Technologies in a report on Thursday, May 23rd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $582.31.

Tyler Technologies Trading Up 4.7 %

Shares of TYL stock opened at $590.65 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 0.94. The company has a market cap of $25.08 billion, a price-to-earnings ratio of 133.63, a PEG ratio of 5.54 and a beta of 0.76. The stock has a 50 day simple moving average of $499.37 and a 200-day simple moving average of $457.35. Tyler Technologies has a 1-year low of $361.16 and a 1-year high of $593.50.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.34 by $0.06. The firm had revenue of $540.98 million during the quarter, compared to the consensus estimate of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.53 EPS. On average, equities research analysts expect that Tyler Technologies will post 6.5 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In other news, CFO Brian K. Miller sold 2,671 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $465.03, for a total transaction of $1,242,095.13. Following the sale, the chief financial officer now directly owns 13,536 shares in the company, valued at approximately $6,294,646.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Daniel M. Pope sold 520 shares of Tyler Technologies stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total transaction of $255,413.60. Following the transaction, the director now directly owns 3,493 shares in the company, valued at approximately $1,715,691.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 2,671 shares of Tyler Technologies stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $465.03, for a total value of $1,242,095.13. Following the completion of the transaction, the chief financial officer now owns 13,536 shares in the company, valued at $6,294,646.08. The disclosure for this sale can be found here. Insiders sold 21,241 shares of company stock valued at $10,201,740 over the last quarter. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC boosted its position in Tyler Technologies by 20.1% during the fourth quarter. SG Americas Securities LLC now owns 4,266 shares of the technology company’s stock valued at $1,784,000 after purchasing an additional 713 shares during the last quarter. HB Wealth Management LLC lifted its position in shares of Tyler Technologies by 27.2% in the fourth quarter. HB Wealth Management LLC now owns 804 shares of the technology company’s stock worth $336,000 after buying an additional 172 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Tyler Technologies by 13.2% in the fourth quarter. Pacer Advisors Inc. now owns 3,784 shares of the technology company’s stock worth $1,582,000 after buying an additional 442 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Tyler Technologies by 11.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 18,257 shares of the technology company’s stock worth $7,634,000 after buying an additional 1,809 shares during the last quarter. Finally, Trueblood Wealth Management LLC acquired a new stake in shares of Tyler Technologies in the fourth quarter worth about $270,000. Hedge funds and other 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.