Tyler Technologies (NYSE:TYL) Price Target Raised to $728.00

Tyler Technologies (NYSE:TYL) had its target price hoisted by The Goldman Sachs Group from $660.00 to $728.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other research firms have also recently weighed in on TYL. StockNews.com raised Tyler Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Robert W. Baird upped their price target on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Needham & Company LLC restated a “buy” rating and issued a $700.00 price objective on shares of Tyler Technologies in a research note on Tuesday, January 21st. DA Davidson reaffirmed a “neutral” rating and set a $575.00 target price on shares of Tyler Technologies in a research report on Thursday, January 30th. Finally, Piper Sandler increased their price target on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $676.25.

Tyler Technologies Trading Down 2.6 %

Shares of TYL stock opened at $628.12 on Tuesday. The business’s 50 day moving average is $597.45 and its two-hundred day moving average is $596.01. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. Tyler Technologies has a 12 month low of $397.80 and a 12 month high of $661.31. The company has a market cap of $26.88 billion, a PE ratio of 103.65, a price-to-earnings-growth ratio of 5.01 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. Equities analysts predict that Tyler Technologies will post 8.52 EPS for the current year.

Insider Activity

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the completion of the transaction, the chief financial officer now directly owns 12,198 shares of the company’s stock, valued at approximately $7,709,257.98. This trade represents a 17.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 12,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the sale, the insider now owns 6,983 shares in the company, valued at $4,285,187.78. This represents a 63.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,502 shares of company stock worth $18,941,368. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Several institutional investors have recently added to or reduced their stakes in TYL. Larson Financial Group LLC increased its holdings in shares of Tyler Technologies by 221.4% during the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after buying an additional 31 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Tyler Technologies during the 3rd quarter worth approximately $27,000. Sierra Ocean LLC acquired a new stake in Tyler Technologies during the 4th quarter valued at $32,000. Brown Brothers Harriman & Co. raised its position in Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after purchasing an additional 42 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in Tyler Technologies in the 4th quarter valued at $40,000. 93.30% of the stock is 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.