Tyler Technologies (NYSE:TYL) Price Target Increased to $701.00 by Analysts at Piper Sandler

Tyler Technologies (NYSE:TYL) had its price objective increased by Piper Sandler from $625.00 to $701.00 in a research note published on Friday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the technology company’s stock.

Several other equities analysts also recently commented on TYL. DA Davidson upped their price objective on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays upgraded Tyler Technologies from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $577.00 to $700.00 in a research note on Monday, October 7th. Needham & Company LLC upped their price objective on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday. Truist Financial reiterated a “buy” rating and issued a $600.00 target price (up previously from $560.00) on shares of Tyler Technologies in a research note on Friday, July 26th. Finally, Evercore ISI upgraded shares of Tyler Technologies to a “hold” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $642.62.

Tyler Technologies Stock Down 0.9 %

Shares of TYL traded down $5.81 during trading hours on Friday, reaching $605.86. 238,251 shares of the stock traded hands, compared to its average volume of 228,208. Tyler Technologies has a 52 week low of $361.16 and a 52 week high of $631.43. The company has a market cap of $25.85 billion, a price-to-earnings ratio of 125.18, a PEG ratio of 5.42 and a beta of 0.78. The stock has a fifty day simple moving average of $584.88 and a 200 day simple moving average of $526.68. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.19.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The company had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the business posted $1.66 earnings per share. On average, equities analysts forecast that Tyler Technologies will post 7.21 EPS for the current year.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $576.49, for a total value of $3,603,062.50. Following the completion of the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $43,236,750. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tyler Technologies news, Director Daniel M. Pope sold 275 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $578.26, for a total transaction of $159,021.50. Following the transaction, the director now directly owns 3,218 shares in the company, valued at $1,860,840.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the completion of the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $43,236,750. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,375 shares of company stock valued at $17,049,739. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Tyler Technologies

Several institutional investors have recently added to or reduced their stakes in TYL. Vanguard Group Inc. grew its position in Tyler Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 5,022,053 shares of the technology company’s stock worth $2,134,423,000 after acquiring an additional 53,005 shares during the last quarter. APG Asset Management N.V. increased its position in Tyler Technologies by 1.4% during the 2nd quarter. APG Asset Management N.V. now owns 1,507,062 shares of the technology company’s stock valued at $706,994,000 after purchasing an additional 20,842 shares during the period. Van ECK Associates Corp raised its stake in Tyler Technologies by 6.3% in the first quarter. Van ECK Associates Corp now owns 922,942 shares of the technology company’s stock worth $392,259,000 after buying an additional 54,926 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Tyler Technologies by 15.3% in the first quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock worth $226,501,000 after buying an additional 70,801 shares during the period. Finally, Swedbank AB bought a new stake in Tyler Technologies during the 2nd quarter valued at approximately $251,390,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Company Profile

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.