Tyler Technologies (NYSE:TYL) Given Market Outperform Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of Tyler Technologies (NYSE:TYLFree Report) in a report published on Tuesday, Benzinga reports. The firm currently has a $490.00 price target on the technology company’s stock.

Other analysts also recently issued research reports about the company. Oppenheimer increased their target price on Tyler Technologies from $450.00 to $480.00 and gave the company an outperform rating in a research note on Friday, November 3rd. Needham & Company LLC reaffirmed a buy rating and issued a $475.00 price target on shares of Tyler Technologies in a report on Thursday, January 18th. Truist Financial upped their price target on Tyler Technologies from $475.00 to $510.00 and gave the company a buy rating in a report on Friday, November 3rd. Finally, Piper Sandler upped their price target on Tyler Technologies from $465.00 to $480.00 and gave the company an overweight rating in a report on Friday, November 3rd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $447.79.

View Our Latest Research Report on TYL

Tyler Technologies Stock Performance

TYL opened at $430.52 on Tuesday. The stock has a 50-day moving average of $418.17 and a 200-day moving average of $400.07. Tyler Technologies has a 52-week low of $305.06 and a 52-week high of $451.71. The company has a market cap of $18.13 billion, a PE ratio of 116.04, a price-to-earnings-growth ratio of 4.33 and a beta of 0.83. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.93 and a current ratio of 0.93.

Insider Activity

In related news, CFO Brian K. Miller sold 2,000 shares of Tyler Technologies stock in a transaction on Friday, December 15th. The stock was sold at an average price of $405.94, for a total transaction of $811,880.00. Following the completion of the sale, the chief financial officer now directly owns 14,610 shares of the company’s stock, valued at $5,930,783.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Daniel M. Pope sold 1,853 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $419.13, for a total value of $776,647.89. Following the sale, the director now directly owns 4,530 shares in the company, valued at $1,898,658.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 2,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $405.94, for a total value of $811,880.00. Following the completion of the sale, the chief financial officer now owns 14,610 shares in the company, valued at $5,930,783.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,881 shares of company stock valued at $18,173,993. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

A number of institutional investors have recently modified their holdings of TYL. Tokio Marine Asset Management Co. Ltd. raised its holdings in Tyler Technologies by 7.6% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,205 shares of the technology company’s stock worth $465,000 after acquiring an additional 85 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Tyler Technologies during the second quarter worth about $44,000. Thematics Asset Management raised its holdings in Tyler Technologies by 5.0% during the second quarter. Thematics Asset Management now owns 29,150 shares of the technology company’s stock worth $12,140,000 after acquiring an additional 1,385 shares in the last quarter. BlackRock Inc. increased its position in Tyler Technologies by 2.1% during the second quarter. BlackRock Inc. now owns 3,163,096 shares of the technology company’s stock worth $1,317,335,000 after buying an additional 66,422 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Tyler Technologies during the second quarter worth approximately $79,000. 91.28% of the stock is currently owned by institutional investors.

About Tyler Technologies

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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 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; student information and transportation solutions for K-12 schools; and financial management systems.

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Analyst Recommendations for Tyler Technologies (NYSE:TYL)

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