Tyler Technologies (NYSE:TYL) Given New $550.00 Price Target at Oppenheimer

Tyler Technologies (NYSE:TYL) had its price objective increased by Oppenheimer from $500.00 to $550.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

Several other analysts also recently commented on the stock. Loop Capital increased their target price on shares of Tyler Technologies from $485.00 to $530.00 and gave the company a buy rating in a report on Tuesday. Robert W. Baird increased their target price on shares of Tyler Technologies from $500.00 to $525.00 and gave the company an outperform rating in a report on Friday, April 26th. DA Davidson increased their target price on shares of Tyler Technologies from $412.00 to $434.00 and gave the company a neutral rating in a report on Thursday, February 22nd. Needham & Company LLC increased their target price on shares of Tyler Technologies from $500.00 to $600.00 and gave the company a buy rating in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Tyler Technologies from $500.00 to $526.00 and gave the stock an overweight rating in a report on Thursday, February 15th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tyler Technologies presently has a consensus rating of Moderate Buy and an average target price of $514.55.

Tyler Technologies Stock Up 0.3 %

Tyler Technologies stock opened at $497.50 on Wednesday. Tyler Technologies has a 1-year low of $361.16 and a 1-year high of $500.49. The firm has a market capitalization of $21.12 billion, a price-to-earnings ratio of 112.56, a price-to-earnings-growth ratio of 4.61 and a beta of 0.76. The firm’s fifty day moving average price is $440.41 and its two-hundred day moving average price is $428.21. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.26. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. The firm had revenue of $512.36 million for the quarter, compared to analyst estimates of $507.79 million. On average, equities research analysts predict that Tyler Technologies will post 7.14 earnings per share for the current fiscal year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,500 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $438.98, for a total transaction of $2,853,370.00. Following the sale, the insider now owns 6,400 shares in the company, valued at $2,809,472. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $483.21, for a total transaction of $2,899,260.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at $3,374,255.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John S. Marr, Jr. sold 6,500 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $438.98, for a total value of $2,853,370.00. Following the transaction, the insider now owns 6,400 shares of the company’s stock, valued at $2,809,472. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,549 shares of company stock worth $23,571,620. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kapitalo Investimentos Ltda purchased a new position in Tyler Technologies during the fourth quarter worth about $26,000. Covestor Ltd grew its position in Tyler Technologies by 153.6% during the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after buying an additional 43 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Tyler Technologies during the fourth quarter worth about $31,000. Larson Financial Group LLC boosted its holdings in shares of 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 position in shares of Tyler Technologies in the 4th quarter worth about $40,000. 93.30% of the stock is currently 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.