Tyler Technologies (NYSE:TYL) Price Target Increased to $468.00 by Analysts at Piper Sandler

Posted by MarketBeat News on Aug 2nd, 2022

Tyler Technologies (NYSE:TYL – Get Rating) had its target price upped by Piper Sandler from $405.00 to $468.00 in a research report released on Friday, MarketBeat.com reports. Piper Sandler currently has an overweight rating on the technology company’s stock.

A number of other equities research analysts have also issued reports on the stock. DA Davidson upgraded shares of Tyler Technologies from a neutral rating to a buy rating and set a $440.00 target price on the stock in a research note on Thursday, May 26th. They noted that the move was a valuation call. StockNews.com assumed coverage on Tyler Technologies in a research note on Thursday, March 31st. They issued a hold rating for the company. Barclays lowered their price target on shares of Tyler Technologies from $445.00 to $370.00 and set an equal weight rating for the company in a research report on Tuesday, July 12th. TheStreet cut Tyler Technologies from a b- rating to a c+ rating in a research note on Wednesday, April 27th. Finally, Truist Financial lowered their price target on Tyler Technologies from $550.00 to $500.00 and set a buy rating on the stock in a research report on Tuesday, July 5th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $476.75.

Tyler Technologies Stock Performance

NYSE:TYL opened at $401.28 on Friday. The firm has a market cap of $16.64 billion, a PE ratio of 95.32 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.12. Tyler Technologies has a 1-year low of $300.85 and a 1-year high of $557.55. The firm has a 50 day simple moving average of $344.93 and a 200-day simple moving average of $393.05.

Tyler Technologies (NYSE:TYL – Get Rating) last posted its earnings results on Wednesday, July 27th. The technology company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.05. The firm had revenue of $468.70 million during the quarter, compared to the consensus estimate of $458.50 million. Tyler Technologies had a net margin of 9.84% and a return on equity of 10.26%. The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.42 EPS. On average, equities analysts expect that Tyler Technologies will post 5.58 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The shares were 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 of the company’s stock, valued at approximately $20,965,822.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction on Friday, May 13th. The stock was sold at an average price of $358.97, for a total value of $897,425.00. Following the sale, the chief financial officer now directly owns 28,594 shares in the company, valued at $10,264,388.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $363.75, for a total value of $2,182,500.00. Following the transaction, the chairman now directly owns 57,638 shares of the company’s stock, valued at $20,965,822.50. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Large investors have recently made changes to their positions in the company. Kestra Advisory Services LLC increased its stake in shares of Tyler Technologies by 26.4% in the fourth quarter. Kestra Advisory Services LLC now owns 655 shares of the technology company’s stock valued at $352,000 after buying an additional 137 shares in the last quarter. National Bank of Canada FI acquired a new position in Tyler Technologies in the fourth quarter valued at approximately $924,000. Janney Montgomery Scott LLC grew its stake in shares of Tyler Technologies by 1.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 11,429 shares of the technology company’s stock worth $6,148,000 after purchasing an additional 131 shares during the period. Bessemer Group Inc. lifted its stake in Tyler Technologies by 15.3% in the fourth quarter. Bessemer Group Inc. now owns 3,240 shares of the technology company’s stock valued at $1,743,000 after buying an additional 430 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Tyler Technologies during the fourth quarter worth about $5,110,000. Institutional investors own 90.14% of the company’s stock.

Tyler Technologies Company Profile

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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.