Tyler Technologies’ (TYL) Buy Rating Reaffirmed at Needham & Company LLC

Tyler Technologies (NYSE:TYL)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They presently have a $700.00 price objective on the technology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 19.37% from the company’s current price.

A number of other equities research analysts have also weighed in on TYL. DA Davidson upped their target price on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Piper Sandler raised their target price on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Robert W. Baird lifted their target price on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. JMP Securities increased 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. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $615.00 price objective (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $643.77.

Tyler Technologies Trading Up 0.3 %

NYSE TYL opened at $586.43 on Tuesday. Tyler Technologies has a 52 week low of $397.80 and a 52 week high of $638.56. The business has a 50 day moving average price of $598.42 and a 200-day moving average price of $585.06. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. The company has a market cap of $25.10 billion, a price-to-earnings ratio of 107.01, a P/E/G ratio of 4.42 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. The firm had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.66 earnings per share. As a group, equities analysts expect that Tyler Technologies will post 7.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $624.41, for a total value of $1,561,025.00. Following the completion of the sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at approximately $7,461,699.50. This trade represents a 17.30 % 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 business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total value of $3,786,375.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at $45,436,500. This represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,252 shares of company stock valued at $26,096,928. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Ashton Thomas Securities LLC purchased a new position in Tyler Technologies during the 3rd quarter valued at about $27,000. Quarry LP bought a new position in shares of Tyler Technologies in the third quarter valued at approximately $78,000. Tobam purchased a new position in Tyler Technologies during the third quarter valued at approximately $78,000. MassMutual Private Wealth & Trust FSB increased its holdings in Tyler Technologies by 18.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock worth $78,000 after acquiring an additional 21 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in Tyler Technologies in the 3rd quarter worth approximately $79,000. 93.30% of the stock is currently owned by hedge funds and other 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.