Tyler Technologies’ (TYL) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Tyler Technologies (NYSE:TYL) in a research note published on Thursday morning, Benzinga reports. They currently have a $500.00 price objective on the technology company’s stock.

Other equities analysts have also issued reports about the company. DA Davidson boosted their price target on Tyler Technologies from $412.00 to $434.00 and gave the stock a neutral rating in a research report on Thursday, February 22nd. Piper Sandler reissued an overweight rating and set a $520.00 price target on shares of Tyler Technologies in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on Tyler Technologies from $500.00 to $526.00 and gave the stock an overweight rating in a research report on Thursday, February 15th. Finally, JMP Securities reissued a market outperform rating and set a $490.00 price target on shares of Tyler Technologies in a research report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Tyler Technologies has an average rating of Moderate Buy and a consensus target price of $465.85.

Tyler Technologies Stock Performance

NYSE TYL opened at $460.74 on Thursday. The firm has a market capitalization 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. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.86. The business’s 50-day simple moving average is $423.02 and its 200-day simple moving average is $415.30.

Tyler Technologies (NYSE:TYL) last released 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. The business had revenue of $480.94 million for the quarter, compared to analyst estimates of $483.34 million. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. Equities analysts predict that Tyler Technologies will post 6.77 EPS for the current year.

Insider Activity at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $437.49, for a total value of $2,843,685.00. Following the sale, the insider now directly owns 6,400 shares of the company’s stock, valued at $2,799,936. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tyler Technologies 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 sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $32,639,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 6,500 shares of the stock in a transaction on 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 directly owns 6,400 shares in the company, valued at $2,799,936. The disclosure for this sale can be found here. Insiders have sold 50,608 shares of company stock valued at $21,974,819 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Kapitalo Investimentos Ltda acquired a new stake in shares of Tyler Technologies in the 4th quarter worth about $26,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Tyler Technologies in the 4th quarter worth about $31,000. Headlands Technologies LLC bought a new position in Tyler Technologies in the 4th quarter valued at about $40,000. Lindbrook Capital LLC grew its position in Tyler Technologies by 50.6% in the 4th quarter. Lindbrook Capital LLC now owns 116 shares of the technology company’s stock valued at $49,000 after buying an additional 39 shares in the last quarter. Finally, Chilton Capital Management LLC bought a new position in Tyler Technologies in the 4th quarter valued at about $52,000. 93.30% of the stock is owned by institutional investors and hedge funds.

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.