Tyler Technologies (NYSE:TYL) Price Target Raised to $500.00

Tyler Technologies (NYSE:TYL) had its price target raised by Oppenheimer from $480.00 to $500.00 in a report released on Friday, Marketbeat reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. raised 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. JMP Securities restated a market outperform rating and set a $490.00 price target on shares of Tyler Technologies in a research report on Friday, February 16th. DA Davidson raised 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 restated an overweight rating and set a $520.00 price target on shares of Tyler Technologies in a research report on Wednesday, April 24th. Finally, Needham & Company LLC restated a buy rating and set a $500.00 price target on shares of Tyler Technologies in a research report on Thursday. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $480.60.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $460.74 on Friday. The stock has a market cap of $19.56 billion, a price-to-earnings ratio of 104.24, a P/E/G ratio of 4.53 and a beta of 0.81. The company has a current ratio of 0.94, 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 $465.78. The stock’s 50-day moving average is $423.02 and its 200 day moving average is $415.62.

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 analysts’ consensus estimates of $1.33 by $0.06. The company had revenue of $480.94 million for the quarter, compared to analysts’ expectations of $483.34 million. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. On average, sell-side analysts anticipate that Tyler Technologies will post 7.01 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In related news, Director Glenn A. Carter sold 1,650 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $437.84, for a total transaction of $722,436.00. Following the sale, the director now directly owns 2,011 shares in the company, valued at $880,496.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Glenn A. Carter sold 1,650 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $437.84, for a total transaction of $722,436.00. Following the sale, the director now directly owns 2,011 shares in the company, valued at $880,496.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO H Lynn Moore, Jr. sold 10,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $435.98, for a total value of $4,359,800.00. Following the sale, the chief executive officer now owns 75,000 shares in the company, valued at $32,698,500. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,608 shares of company stock worth $21,974,819. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tyler Technologies

Several hedge funds have recently made changes to their positions in the company. Kapitalo Investimentos Ltda purchased a new position in Tyler Technologies during the fourth quarter valued at $26,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Tyler Technologies during the fourth quarter valued at $31,000. Headlands Technologies LLC purchased a new position in Tyler Technologies during the fourth quarter valued at $40,000. Lindbrook Capital LLC raised its stake in Tyler Technologies by 50.6% during the fourth quarter. Lindbrook Capital LLC now owns 116 shares of the technology company’s stock valued at $49,000 after buying an additional 39 shares during the last quarter. Finally, Chilton Capital Management LLC purchased a new position in Tyler Technologies during the fourth quarter valued at $52,000. 93.30% of the stock is currently owned by institutional investors.

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.