Tyler Technologies’ (TYL) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of Tyler Technologies (NYSE:TYL) in a research note published on Friday, Benzinga reports. JMP Securities currently has a $490.00 target price on the technology company’s stock.

Other equities research analysts also recently issued reports about the stock. Oppenheimer lifted their price target on shares of Tyler Technologies from $480.00 to $500.00 and gave the company an outperform rating in a research report on Friday. DA Davidson lifted their price target on shares of Tyler Technologies from $412.00 to $434.00 and gave the company a neutral rating in a research report on Thursday, February 22nd. Needham & Company LLC reiterated a buy rating and set a $500.00 price target on shares of Tyler Technologies in a research report on Thursday. Piper Sandler reiterated an overweight rating and set a $520.00 price target on shares of Tyler Technologies in a research report on Wednesday, April 24th. Finally, Robert W. Baird lifted their price target on shares of Tyler Technologies from $500.00 to $525.00 and gave the company an outperform rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $480.60.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $460.74 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. The company has a market cap of $19.56 billion, a P/E ratio of 104.24, a PEG ratio of 4.53 and a beta of 0.81. Tyler Technologies has a 52 week low of $361.16 and a 52 week high of $465.78. The company has a 50-day moving average price of $423.02 and a 200 day moving average price of $415.62.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. The company had revenue of $480.94 million during the quarter, compared to the consensus estimate of $483.34 million. Research analysts predict that Tyler Technologies will post 7.01 earnings per share for the current year.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, 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 completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $32,698,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 7,500 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $435.19, for a total value of $3,263,925.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $32,639,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 10,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 directly owns 75,000 shares of the company’s stock, valued at $32,698,500. The disclosure for this sale can be found here. Insiders sold a total of 50,608 shares of company stock valued at $21,974,819 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC grew its stake in shares of Tyler Technologies by 18.0% during the 3rd quarter. CWM LLC now owns 517 shares of the technology company’s stock valued at $200,000 after buying an additional 79 shares during the period. SG Americas Securities LLC grew its stake in shares of Tyler Technologies by 3.3% during the 3rd quarter. SG Americas Securities LLC now owns 3,553 shares of the technology company’s stock valued at $1,372,000 after buying an additional 114 shares during the period. Czech National Bank grew its stake in shares of Tyler Technologies by 48.2% during the 3rd quarter. Czech National Bank now owns 7,354 shares of the technology company’s stock valued at $2,840,000 after buying an additional 2,391 shares during the period. MCF Advisors LLC purchased a new stake in shares of Tyler Technologies during the 3rd quarter valued at $1,737,000. Finally, Cavalier Investments LLC grew its stake in shares of Tyler Technologies by 2.7% during the 3rd quarter. Cavalier Investments LLC now owns 1,352 shares of the technology company’s stock valued at $522,000 after buying an additional 35 shares during the period. 93.30% of the stock is owned by hedge funds and other 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.