Tyler Technologies, Inc. (NYSE:TYL) Receives $593.69 Average PT from Brokerages

Tyler Technologies, Inc. (NYSE:TYL) has earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $601.38.

A number of brokerages recently issued reports on TYL. Piper Sandler increased their price objective on Tyler Technologies from $529.00 to $625.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Barclays raised 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 lifted their price objective on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $627.00 price objective on shares of Tyler Technologies in a report on Friday, September 13th. Finally, DA Davidson raised their target price on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th.

Insiders Place Their Bets

In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $43,246,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $43,246,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel M. Pope sold 275 shares of the business’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 transaction of $159,021.50. Following the sale, the director now owns 3,218 shares in the company, valued at $1,860,840.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,375 shares of company stock worth $17,049,739. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Tyler Technologies

Institutional investors have recently bought and sold shares of the business. Independence Bank of Kentucky purchased a new stake in shares of Tyler Technologies in the second quarter worth approximately $25,000. Kapitalo Investimentos Ltda purchased a new stake in Tyler Technologies in the 4th quarter worth approximately $26,000. Covestor Ltd boosted its stake in shares of Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after buying an additional 43 shares during the period. Blue Trust Inc. grew its holdings in shares of Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after acquiring an additional 56 shares in the last quarter. Finally, Lynx Investment Advisory acquired a new position in shares of Tyler Technologies in the second quarter worth $38,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Stock Up 5.0 %

NYSE:TYL opened at $611.47 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average of $584.45 and a 200-day moving average of $525.37. The firm has a market capitalization of $26.09 billion, a PE ratio of 126.34, a price-to-earnings-growth ratio of 5.42 and a beta of 0.78. Tyler Technologies has a 52 week low of $361.16 and a 52 week high of $631.43.

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

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.