Tyler Technologies (NYSE:TYL) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of Tyler Technologies (NYSE:TYL) in a report issued on Wednesday, Benzinga reports. The brokerage currently has a $520.00 price objective on the technology company’s stock.

Several other research analysts have also issued reports on TYL. JMP Securities reaffirmed a market outperform rating and set a $490.00 price objective on shares of Tyler Technologies in a research note on Friday, February 16th. DA Davidson upped their price target on Tyler Technologies from $412.00 to $434.00 and gave the company a neutral rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Tyler Technologies from $500.00 to $526.00 and gave the stock an overweight rating in a research note on Thursday, February 15th. Finally, Needham & Company LLC upped their target price on shares of Tyler Technologies from $475.00 to $500.00 and gave the company a buy rating in a research note on Thursday, February 15th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $460.46.

Tyler Technologies Stock Performance

Tyler Technologies stock opened at $419.00 on Wednesday. The company has a market cap of $17.78 billion, a PE ratio of 107.71, a PEG ratio of 4.12 and a beta of 0.81. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. Tyler Technologies has a 1 year low of $361.16 and a 1 year high of $454.74. The company’s 50-day moving average is $422.70 and its two-hundred day moving average is $414.49.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.06. Tyler Technologies had a net margin of 8.50% and a return on equity of 8.85%. The business had revenue of $480.94 million for the quarter, compared to analyst estimates of $483.34 million. Equities analysts anticipate that Tyler Technologies will post 6.77 earnings per share for the current year.

Insider Transactions at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 7,500 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $435.19, for a total transaction of $3,263,925.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $32,639,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO H Lynn Moore, Jr. sold 7,500 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $435.19, for a total transaction of $3,263,925.00. Following the sale, the chief executive officer now owns 75,000 shares in the company, valued at $32,639,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Glenn A. Carter sold 1,650 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $437.84, for a total value of $722,436.00. Following the transaction, the director now directly owns 2,011 shares of the company’s stock, valued at $880,496.24. The disclosure for this sale can be found here. Insiders sold 50,608 shares of company stock valued at $21,974,819 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Tyler Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. raised its holdings in shares of Tyler Technologies by 2.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,095 shares of the technology company’s stock valued at $423,000 after purchasing an additional 29 shares during the period. Baron Wealth Management LLC increased its position in Tyler Technologies by 2.0% during the fourth quarter. Baron Wealth Management LLC now owns 1,463 shares of the technology company’s stock worth $612,000 after buying an additional 29 shares during the last quarter. Centered Wealth LLC dba Miller Equity Capital Advisors raised its stake in Tyler Technologies by 0.8% in the fourth quarter. Centered Wealth LLC dba Miller Equity Capital Advisors now owns 3,920 shares of the technology company’s stock valued at $1,639,000 after buying an additional 30 shares during the period. GW&K Investment Management LLC boosted its stake in shares of Tyler Technologies by 0.3% during the 4th quarter. GW&K Investment Management LLC now owns 12,044 shares of the technology company’s stock worth $5,035,000 after acquiring an additional 31 shares during the period. Finally, Avantax Advisory Services Inc. increased its holdings in shares of Tyler Technologies by 5.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 670 shares of the technology company’s stock worth $280,000 after acquiring an additional 33 shares during the last quarter. 93.30% of the stock is owned by institutional investors.

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.