DA Davidson Raises Tyler Technologies (NYSE:TYL) Price Target to $550.00

Tyler Technologies (NYSE:TYL) had its price target hoisted by DA Davidson from $525.00 to $550.00 in a research note published on Thursday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other analysts have also recently issued research reports about the stock. JMP Securities boosted their target price on shares of Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a research note on Monday, July 22nd. Oppenheimer upped their price objective on shares of Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Evercore ISI raised shares of Tyler Technologies to a “hold” rating in a research note on Friday, July 26th. Piper Sandler upped their price objective on shares of Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $600.00 price objective on shares of Tyler Technologies in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Tyler Technologies currently has an average rating of “Moderate Buy” and an average price target of $593.69.

Tyler Technologies Stock Up 0.0 %

TYL stock opened at $588.43 on Thursday. The stock has a market capitalization of $24.98 billion, a P/E ratio of 133.13, a P/E/G ratio of 5.55 and a beta of 0.78. The firm has a 50-day simple moving average of $583.57 and a 200-day simple moving average of $521.21. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. Tyler Technologies has a 52 week low of $361.16 and a 52 week high of $606.93.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.06. The business had revenue of $540.98 million during the quarter, compared to analysts’ expectations of $541.01 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.53 earnings per share. Equities analysts forecast that Tyler Technologies will post 7.21 earnings per share for the current fiscal year.

Insider Transactions at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’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 transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $43,236,750. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Daniel M. Pope sold 275 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $578.26, for a total value of $159,021.50. Following the transaction, the director now directly owns 3,218 shares in the company, valued at approximately $1,860,840.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the 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 sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $43,236,750. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,375 shares of company stock worth $17,049,739. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tyler Technologies

A number of hedge funds have recently added to or reduced their stakes in TYL. Swedbank AB purchased a new stake in shares of Tyler Technologies in the 2nd quarter valued at approximately $251,390,000. Janus Henderson Group PLC increased its position in shares of Tyler Technologies by 15.3% in the 1st quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock valued at $226,501,000 after purchasing an additional 70,801 shares during the last quarter. Quantum Capital Management LLC NJ increased its position in shares of Tyler Technologies by 179.4% in the 1st quarter. Quantum Capital Management LLC NJ now owns 107,760 shares of the technology company’s stock valued at $45,799,000 after purchasing an additional 69,189 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Tyler Technologies by 18.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 424,982 shares of the technology company’s stock valued at $180,622,000 after purchasing an additional 65,814 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Tyler Technologies by 6.3% in the 1st quarter. Van ECK Associates Corp now owns 922,942 shares of the technology company’s stock valued at $392,259,000 after purchasing an additional 54,926 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

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.