Tyler Technologies (NYSE:TYL) PT Raised to $525.00 at Robert W. Baird

Tyler Technologies (NYSE:TYL) had its price target hoisted by equities research analysts at Robert W. Baird from $500.00 to $525.00 in a report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target indicates a potential upside of 13.95% from the stock’s current price.

Several other analysts also recently issued reports on TYL. Needham & Company LLC reaffirmed a “buy” rating and set a $500.00 price objective on shares of Tyler Technologies in a report on Thursday. Oppenheimer upped their target price on shares of Tyler Technologies from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. upped their target price on shares of Tyler Technologies from $500.00 to $526.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Piper Sandler reiterated an “overweight” rating and set a $520.00 target price on shares of Tyler Technologies in a research note on Wednesday. Finally, DA Davidson upped their target price on shares of Tyler Technologies from $412.00 to $434.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $465.85.

Tyler Technologies Price Performance

NYSE TYL opened at $460.74 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $423.02 and a 200 day simple moving average of $415.30. The company has a market cap of $19.56 billion, a P/E ratio of 104.24, a P/E/G ratio of 4.51 and a beta of 0.81. Tyler Technologies has a 1 year low of $361.16 and a 1 year high of $465.78.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.06. The business had revenue of $480.94 million during the quarter, compared to the consensus estimate of $483.34 million. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. On average, sell-side analysts predict that Tyler Technologies will post 6.77 EPS for the current year.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 10,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $435.98, for a total transaction of $4,359,800.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $32,698,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO H Lynn Moore, Jr. sold 10,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $435.98, for a total transaction of $4,359,800.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $32,698,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John S. Marr, Jr. sold 6,500 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $437.49, for a total transaction of $2,843,685.00. Following the sale, the insider now owns 6,400 shares of the company’s stock, valued at approximately $2,799,936. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,608 shares of company stock worth $21,974,819. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tyler Technologies

Hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in Tyler Technologies during the 4th quarter worth about $459,691,000. Morgan Stanley grew its holdings in Tyler Technologies by 21.1% during the 3rd quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock worth $392,208,000 after acquiring an additional 177,242 shares during the last quarter. APG Asset Management US Inc. bought a new stake in Tyler Technologies during the 4th quarter worth about $57,493,000. Van ECK Associates Corp grew its holdings in Tyler Technologies by 13.1% during the 4th quarter. Van ECK Associates Corp now owns 868,016 shares of the technology company’s stock worth $362,935,000 after acquiring an additional 100,788 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Tyler Technologies by 6.7% during the 4th quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock worth $434,987,000 after acquiring an additional 64,889 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

About Tyler Technologies

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.