Tyler Technologies (NYSE:TYL) Price Target Raised to $600.00

Tyler Technologies (NYSE:TYLGet Free Report) had its price target boosted by equities researchers at Needham & Company LLC from $500.00 to $600.00 in a research note issued on Tuesday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 21.51% from the company’s current price.

Other analysts have also issued reports about the stock. 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. DA Davidson upped their price objective 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. Robert W. Baird upped their price objective on shares of Tyler Technologies from $500.00 to $525.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Oppenheimer upped their price objective on shares of Tyler Technologies from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. upped their price objective 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. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and an average price target of $503.33.

View Our Latest Research Report on Tyler Technologies

Tyler Technologies Trading Up 1.0 %

Shares of TYL stock opened at $493.80 on Tuesday. The company’s fifty day simple moving average is $437.52 and its two-hundred day simple moving average is $427.16. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94. Tyler Technologies has a 1 year low of $361.16 and a 1 year high of $495.00. The stock has a market capitalization of $20.97 billion, a price-to-earnings ratio of 111.72, a PEG ratio of 4.57 and a beta of 0.76.

Tyler Technologies (NYSE:TYLGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.26. The firm had revenue of $512.36 million during the quarter, compared to analyst estimates of $507.79 million. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. As a group, analysts anticipate that Tyler Technologies will post 7.14 earnings per share for the current year.

Insider Activity

In other news, insider John S. Marr, Jr. sold 6,500 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were 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 in the company, valued at $2,799,936. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $483.21, for a total value of $2,899,260.00. Following the sale, the insider now owns 6,983 shares in the company, valued at $3,374,255.43. 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 that occurred 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 completion of the transaction, the insider now owns 6,400 shares in the company, valued at $2,799,936. The disclosure for this sale can be found here. Insiders have sold a total of 62,549 shares of company stock worth $27,931,420 over the last 90 days. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TYL. Kapitalo Investimentos Ltda bought a new stake in shares of Tyler Technologies during the 4th quarter valued at $26,000. Covestor Ltd lifted its stake in shares of Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after buying an additional 43 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Tyler Technologies in the 4th quarter worth $31,000. Larson Financial Group LLC lifted its stake in Tyler Technologies by 675.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the technology company’s stock worth $40,000 after purchasing an additional 81 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Tyler Technologies in the 4th quarter worth $40,000. 93.30% of the stock is currently owned by institutional investors.

About Tyler Technologies

(Get Free Report)

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.

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Analyst Recommendations for Tyler Technologies (NYSE:TYL)

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