Tyler Technologies (NYSE:TYL) PT Raised to $625.00 at Oppenheimer

Tyler Technologies (NYSE:TYL) had its price target lifted by stock analysts at Oppenheimer from $550.00 to $625.00 in a report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price would indicate a potential upside of 10.75% from the company’s previous close.

Several other research analysts also recently weighed in on the company. Barclays boosted their target price on Tyler Technologies from $473.00 to $515.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Robert W. Baird boosted their price target on Tyler Technologies from $500.00 to $525.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Wells Fargo & Company increased their price objective on shares of Tyler Technologies from $550.00 to $580.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. JMP Securities boosted their target price on shares of Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a research report on Monday. Finally, Truist Financial restated a “buy” rating and set a $560.00 price target (up previously from $510.00) on shares of Tyler Technologies in a research note on Thursday, May 23rd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $554.17.

Tyler Technologies Price Performance

TYL opened at $564.34 on Friday. The firm has a market capitalization of $23.96 billion, a PE ratio of 127.68, a price-to-earnings-growth ratio of 4.84 and a beta of 0.76. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94. The business’s 50-day moving average is $495.82 and its two-hundred day moving average is $454.78. Tyler Technologies has a 1 year low of $361.16 and a 1 year high of $572.80.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.06. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.82%. The firm had revenue of $540.98 million for the quarter, compared to the consensus estimate of $541.01 million. During the same quarter in the previous year, the firm earned $1.53 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. Research analysts anticipate that Tyler Technologies will post 7.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

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

Institutional Trading of Tyler Technologies

Institutional investors have recently modified their holdings of the stock. Industrial Alliance Investment Management Inc. lifted its stake in Tyler Technologies by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company’s stock valued at $295,000 after buying an additional 29 shares in the last quarter. Centered Wealth LLC dba Miller Equity Capital Advisors lifted its holdings in Tyler Technologies by 0.8% in the 4th quarter. Centered Wealth LLC dba Miller Equity Capital Advisors now owns 3,920 shares of the technology company’s stock valued at $1,639,000 after purchasing an additional 30 shares in the last quarter. GW&K Investment Management LLC boosted its stake in Tyler Technologies by 0.3% during the 4th quarter. GW&K Investment Management LLC now owns 12,044 shares of the technology company’s stock worth $5,035,000 after purchasing an additional 31 shares during the last quarter. Avantax Advisory Services Inc. raised its position in shares of Tyler Technologies by 5.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 670 shares of the technology company’s stock valued at $280,000 after buying an additional 33 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Tyler Technologies by 3.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,044 shares of the technology company’s stock valued at $444,000 after buying an additional 33 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

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.