Tyler Technologies, Inc. (NYSE:TYL) Receives $674.67 Consensus Target Price from Brokerages

Shares of Tyler Technologies, Inc. (NYSE:TYL) have received a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $674.67.

Several equities research analysts recently issued reports on TYL shares. StockNews.com lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Truist Financial reissued a “buy” rating and set a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Robert W. Baird lowered their target price on Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Needham & Company LLC reiterated a “buy” rating and issued a $750.00 target price on shares of Tyler Technologies in a research report on Thursday, April 24th. Finally, Piper Sandler reduced their price target on Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating on the stock in a report on Friday, April 25th.

Insider Buying and Selling at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 6,514 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the sale, the chief executive officer now owns 75,734 shares in the company, valued at $46,772,561.06. This represents a 7.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at $4,322,477. The trade was a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,429 shares of company stock valued at $8,888,780. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Tyler Technologies during the fourth quarter valued at approximately $528,465,000. GAMMA Investing LLC increased its position in shares of Tyler Technologies by 57,694.7% during the 1st quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company’s stock valued at $510,739,000 after purchasing an additional 876,960 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Tyler Technologies by 1,991.8% during the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after purchasing an additional 524,259 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Tyler Technologies in the 4th quarter worth about $159,947,000. Finally, JPMorgan Chase & Co. grew its position in Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after buying an additional 275,511 shares during the period. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock opened at $563.52 on Tuesday. The company has a 50 day moving average of $564.61 and a 200-day moving average of $591.08. The company has a market cap of $24.30 billion, a PE ratio of 92.99, a price-to-earnings-growth ratio of 4.93 and a beta of 0.88. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies has a 1-year low of $458.50 and a 1-year high of $661.31.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The firm had revenue of $562.43 million for the quarter, compared to the consensus estimate of $556.45 million. During the same quarter last year, the business posted $2.20 EPS. The company’s revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts forecast that Tyler Technologies will post 8.52 earnings per share for the current fiscal year.

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.