Piper Sandler Forecasts Strong Price Appreciation for Tyler Technologies (NYSE:TYL) Stock

Tyler Technologies (NYSE:TYL) had its price objective boosted by equities researchers at Piper Sandler from $701.00 to $747.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price target would suggest a potential upside of 14.85% from the company’s previous close.

TYL has been the topic of several other reports. JMP Securities upped their price target on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research report on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and set a $700.00 price target on shares of Tyler Technologies in a research report on Tuesday, January 21st. StockNews.com lowered Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $615.00 target price (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $575.00 target price on shares of Tyler Technologies in a research report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $649.23.

Tyler Technologies Stock Performance

Tyler Technologies stock opened at $650.43 on Friday. The stock has a market cap of $27.84 billion, a P/E ratio of 118.69, a price-to-earnings-growth ratio of 4.78 and a beta of 0.78. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average of $595.47 and a 200-day moving average of $593.32. Tyler Technologies has a 52 week low of $397.80 and a 52 week high of $661.31.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. On average, analysts expect that Tyler Technologies will post 7.36 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In related news, CFO Brian K. Miller sold 6,752 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the completion of the transaction, the chief financial officer now owns 11,918 shares of the company’s stock, valued at $7,314,672.50. This trade represents a 36.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 3,250 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $631.41, for a total value of $2,052,082.50. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $47,355,750. This represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,502 shares of company stock valued at $18,941,368. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Oak Thistle LLC boosted its stake in Tyler Technologies by 213.7% during the fourth quarter. Oak Thistle LLC now owns 2,328 shares of the technology company’s stock valued at $1,342,000 after buying an additional 1,586 shares in the last quarter. Aigen Investment Management LP purchased a new position in Tyler Technologies in the 3rd quarter worth about $1,309,000. Maiden Cove Capital LLC purchased a new position in Tyler Technologies in the 3rd quarter worth about $583,000. Assetmark Inc. increased its stake in Tyler Technologies by 9.4% in the 3rd quarter. Assetmark Inc. now owns 9,910 shares of the technology company’s stock worth $5,785,000 after purchasing an additional 854 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Tyler Technologies in the 3rd quarter worth about $569,000. Institutional investors own 93.30% of the company’s stock.

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.