Tyler Technologies (NYSE:TYL) Receives Buy Rating from Truist Financial

Tyler Technologies (NYSE:TYL)‘s stock had its “buy” rating reaffirmed by Truist Financial in a research note issued to investors on Friday,Benzinga reports. They presently have a $775.00 price objective on the technology company’s stock, up from their prior price objective of $685.00. Truist Financial’s price objective suggests a potential upside of 20.87% from the company’s current price.

Several other equities research analysts also recently commented on TYL. JMP Securities upped their target price on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a report on Friday, October 25th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $615.00 target price (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. DA Davidson reaffirmed a “neutral” rating and set a $575.00 target price on shares of Tyler Technologies in a report on Thursday, January 30th. Piper Sandler upped their target price on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a report on Friday. Finally, Robert W. Baird upped their target price on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $656.92.

Tyler Technologies Price Performance

TYL stock traded down $5.53 during trading hours on Friday, hitting $641.21. 67,923 shares of the stock traded hands, compared to its average volume of 234,923. The stock has a 50-day simple moving average of $595.47 and a 200 day simple moving average of $593.32. Tyler Technologies has a one year low of $397.80 and a one year high of $661.31. The company has a market cap of $27.44 billion, a P/E ratio of 117.20, a P/E/G ratio of 4.78 and a beta of 0.78. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share 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 forecast that Tyler Technologies will post 7.36 earnings per share for the current year.

Insider Transactions at Tyler Technologies

In other news, CFO Brian K. Miller sold 6,752 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the transaction, the chief financial officer now owns 11,918 shares of the company’s stock, valued at approximately $7,314,672.50. This represents a 36.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John S. Marr, Jr. sold 12,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $613.66, for a total value of $7,363,920.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,285,187.78. This represents a 63.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock valued at $18,941,368 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC increased its holdings in shares of Tyler Technologies by 221.4% during the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after acquiring an additional 31 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Tyler Technologies in the 3rd quarter valued at approximately $27,000. Sierra Ocean LLC acquired a new stake in Tyler Technologies in the 4th quarter valued at approximately $32,000. Brown Brothers Harriman & Co. grew its holdings in Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after buying an additional 42 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Tyler Technologies in the 4th quarter valued at approximately $41,000. 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.