Wells Fargo & Company Boosts Tyler Technologies (NYSE:TYL) Price Target to $600.00

Tyler Technologies (NYSE:TYL) had its price target raised by investment analysts at Wells Fargo & Company from $580.00 to $600.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 4.53% from the stock’s previous close.

TYL has been the topic of a number of other reports. Loop Capital lifted their target price on Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. BTIG Research boosted their price objective on Tyler Technologies from $515.00 to $550.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Truist Financial restated a “buy” rating and issued a $560.00 price objective (up from $510.00) on shares of Tyler Technologies in a research note on Thursday, May 23rd. Oppenheimer boosted their price objective on Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Robert W. Baird boosted their price objective on Tyler Technologies from $500.00 to $525.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $559.17.

Tyler Technologies Stock Performance

Shares of NYSE TYL traded up $9.66 during mid-day trading on Friday, reaching $574.00. 9,596 shares of the company’s stock were exchanged, compared to its average volume of 220,001. The firm has a market capitalization of $24.37 billion, a price-to-earnings ratio of 129.86, a price-to-earnings-growth ratio of 4.84 and a beta of 0.76. Tyler Technologies has a 52 week low of $361.16 and a 52 week high of $574.00. 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 firm has a 50-day moving average price of $495.82 and a two-hundred day moving average price of $454.78.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.06. The company had revenue of $540.98 million for the quarter, compared to analysts’ expectations of $541.01 million. Tyler Technologies had a return on equity of 9.82% and a net margin of 10.24%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.53 EPS. Analysts predict that Tyler Technologies will post 7.1 EPS for the current year.

Insider Transactions at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 5,250 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $481.83, for a total transaction of $2,529,607.50. Following the completion of the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $36,137,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,250 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $481.83, for a total value of $2,529,607.50. Following the completion of the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $36,137,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brenda A. Cline sold 5,000 shares of the company’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 value of $2,294,150.00. Following the completion of the sale, the director now directly owns 1,358 shares of the company’s stock, valued at approximately $623,091.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,241 shares of company stock valued at $12,495,890. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tyler Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Independence Bank of Kentucky bought a new position in shares of Tyler Technologies during the second quarter valued at approximately $25,000. Kapitalo Investimentos Ltda purchased a new stake in Tyler Technologies in the fourth quarter worth $26,000. Covestor Ltd grew its stake in Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after purchasing an additional 43 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Tyler Technologies in the fourth quarter worth $31,000. Finally, Blue Trust Inc. grew its stake in Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after purchasing an additional 56 shares during the period. 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.