Robert W. Baird Raises Tyler Technologies (NYSE:TYL) Price Target to $700.00

Tyler Technologies (NYSE:TYL) had its price target increased by Robert W. Baird from $625.00 to $700.00 in a research report report published on Friday, Benzinga reports. Robert W. Baird currently has an outperform rating on the technology company’s stock.

A number of other analysts have also issued reports on TYL. Barclays upgraded shares of Tyler Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $577.00 to $700.00 in a research note on Monday, October 7th. Piper Sandler increased their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company boosted their price target on shares of Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. DA Davidson upped their price objective on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, BTIG Research lifted their target price on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tyler Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $605.86 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $25.72 billion, a price-to-earnings ratio of 137.07, a price-to-earnings-growth ratio of 5.42 and a beta of 0.78. The company’s 50 day simple moving average is $584.88 and its 200-day simple moving average is $528.21. Tyler Technologies has a 1 year low of $361.16 and a 1 year high of $631.43.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $547.34 million. During the same period in the prior year, the firm earned $1.66 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts expect that Tyler Technologies will post 7.21 earnings per share for the current year.

Insider Transactions at Tyler Technologies

In related news, CFO Brian K. Miller sold 2,000 shares of Tyler Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $567.96, for a total transaction of $1,135,920.00. Following the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at $6,787,122. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $586.97, for a total transaction of $1,467,425.00. Following the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $7,014,291.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian K. Miller sold 2,000 shares of Tyler Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $567.96, for a total transaction of $1,135,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at $6,787,122. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,100 shares of company stock worth $16,890,717. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Tyler Technologies by 64.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,032 shares of the technology company’s stock worth $864,000 after buying an additional 798 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Tyler Technologies by 18.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 101,435 shares of the technology company’s stock valued at $43,111,000 after purchasing an additional 15,871 shares during the period. Wasatch Advisors LP raised its stake in shares of Tyler Technologies by 68.0% during the first quarter. Wasatch Advisors LP now owns 2,982 shares of the technology company’s stock worth $1,267,000 after purchasing an additional 1,207 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Tyler Technologies by 119.2% during the first quarter. Commonwealth Equity Services LLC now owns 6,517 shares of the technology company’s stock worth $2,770,000 after purchasing an additional 3,544 shares during the period. Finally, HB Wealth Management LLC grew its position in Tyler Technologies by 4.5% in the 1st quarter. HB Wealth Management LLC now owns 840 shares of the technology company’s stock valued at $357,000 after buying an additional 36 shares during the last quarter. 93.30% of the stock is 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.