Barclays Boosts Tyler Technologies (NYSE:TYL) Price Target to $410.00

Tyler Technologies (NYSE:TYLGet Rating) had its price objective raised by Barclays from $370.00 to $410.00 in a research note released on Friday, The Fly reports. Barclays currently has a maintains rating on the technology company’s stock.

TYL has been the topic of several other reports. TheStreet lowered Tyler Technologies from a b- rating to a c+ rating in a research note on Wednesday, April 27th. JMP Securities lowered their target price on Tyler Technologies from $540.00 to $500.00 and set a maintains rating on the stock in a research note on Friday. StockNews.com initiated coverage on Tyler Technologies in a research note on Thursday, March 31st. They issued a hold rating on the stock. DA Davidson upgraded Tyler Technologies from a neutral rating to a buy rating and set a $440.00 price objective on the stock in a research note on Thursday, May 26th. They noted that the move was a valuation call. Finally, Credit Suisse Group initiated coverage on Tyler Technologies in a research note on Monday, May 9th. They set a neutral rating and a $408.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Tyler Technologies has an average rating of Moderate Buy and a consensus price target of $476.75.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock opened at $401.28 on Friday. The business’s fifty day simple moving average is $344.93 and its 200 day simple moving average is $393.05. The firm has a market capitalization of $16.64 billion, a P/E ratio of 95.32 and a beta of 0.90. Tyler Technologies has a 12 month low of $300.85 and a 12 month high of $557.55. The company has a current ratio of 1.15, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50.

Tyler Technologies (NYSE:TYLGet Rating) last issued its earnings results on Wednesday, July 27th. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.05. The firm had revenue of $468.70 million for the quarter, compared to analyst estimates of $458.50 million. Tyler Technologies had a return on equity of 10.26% and a net margin of 9.84%. The business’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 earnings per share. As a group, analysts anticipate that Tyler Technologies will post 5.58 EPS for the current year.

Insider Buying and Selling

In related news, Chairman John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $363.75, for a total transaction of $2,182,500.00. Following the completion of the transaction, the chairman now directly owns 57,638 shares in the company, valued at $20,965,822.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Chairman John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $363.75, for a total transaction of $2,182,500.00. Following the completion of the transaction, the chairman now directly owns 57,638 shares in the company, valued at $20,965,822.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $358.97, for a total value of $897,425.00. Following the transaction, the chief financial officer now owns 28,594 shares of the company’s stock, valued at $10,264,388.18. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TYL. GHP Investment Advisors Inc. purchased a new position in shares of Tyler Technologies during the first quarter worth approximately $30,000. Standard Family Office LLC purchased a new position in shares of Tyler Technologies in the first quarter worth $49,000. Aaron Wealth Advisors LLC purchased a new position in shares of Tyler Technologies in the first quarter worth $51,000. Confluence Wealth Services Inc. purchased a new position in shares of Tyler Technologies in the fourth quarter worth $58,000. Finally, Prospera Financial Services Inc purchased a new position in shares of Tyler Technologies in the first quarter worth $58,000. 90.14% of the stock is owned by hedge funds and other institutional investors.

About Tyler Technologies

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Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.

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