Tyler Technologies (NYSE:TYL) PT Raised to $515.00 at Barclays

Tyler Technologies (NYSE:TYL) had its price objective lifted by research analysts at Barclays from $473.00 to $515.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Barclays‘s price objective points to a potential downside of 1.54% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. BTIG Research raised their target price on shares of Tyler Technologies from $515.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Truist Financial reaffirmed a “buy” rating and issued a $560.00 target price (up from $510.00) on shares of Tyler Technologies in a research report on Thursday, May 23rd. Oppenheimer raised their target price on shares of Tyler Technologies from $500.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 22nd. Needham & Company LLC raised their target price on shares of Tyler Technologies from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Finally, Loop Capital raised their target price on shares of Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $527.27.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock opened at $523.08 on Thursday. The firm has a market cap of $22.21 billion, a PE ratio of 118.34, a price-to-earnings-growth ratio of 4.80 and a beta of 0.76. Tyler Technologies has a 12-month low of $361.16 and a 12-month high of $525.56. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. The company’s fifty day simple moving average is $489.03 and its two-hundred day simple moving average is $448.19.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.26. The business had revenue of $512.36 million for the quarter, compared to analyst estimates of $507.79 million. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. As a group, equities analysts expect that Tyler Technologies will post 7.1 EPS for the current year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $483.21, for a total transaction of $2,899,260.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $3,374,255.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $483.21, for a total transaction of $2,899,260.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $3,374,255.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brenda A. Cline sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the sale, the director now owns 1,358 shares of the company’s stock, valued at $623,091.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,241 shares of company stock worth $12,495,890. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Tyler Technologies

Large investors have recently made changes to their positions in the stock. Kapitalo Investimentos Ltda bought a new stake in shares of Tyler Technologies in the fourth quarter worth approximately $26,000. Covestor Ltd grew its stake in shares of Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after acquiring an additional 43 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Tyler Technologies in the fourth quarter worth approximately $31,000. Lynx Investment Advisory bought a new stake in shares of Tyler Technologies in the second quarter worth approximately $38,000. Finally, Headlands Technologies LLC bought a new stake in shares of Tyler Technologies in the fourth quarter worth approximately $40,000. 93.30% of the stock is currently owned by institutional investors.

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.