Tyler Technologies (NYSE:TYL) Price Target Raised to $627.00

Tyler Technologies (NYSE:TYL) had its price objective increased by The Goldman Sachs Group from $515.00 to $627.00 in a research report sent to investors on Friday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the company. Piper Sandler lifted their price target on Tyler Technologies from $529.00 to $625.00 and gave the stock an overweight rating in a research note on Friday. Truist Financial reaffirmed a buy rating and issued a $600.00 price target (up from $560.00) on shares of Tyler Technologies in a research note on Friday. Barclays lifted their price objective on Tyler Technologies from $473.00 to $515.00 and gave the stock an equal weight rating in a research report on Thursday, July 11th. Loop Capital lifted their price objective on Tyler Technologies from $485.00 to $530.00 and gave the stock a buy rating in a research report on Tuesday, May 21st. Finally, Oppenheimer lifted their price objective on Tyler Technologies from $550.00 to $625.00 and gave the stock an outperform rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $582.31.

Tyler Technologies Stock Performance

NYSE:TYL opened at $590.65 on Friday. The business’s 50-day moving average price is $499.37 and its two-hundred day moving average price is $457.35. Tyler Technologies has a twelve month low of $361.16 and a twelve month high of $593.50. The stock has a market cap of $25.08 billion, a P/E ratio of 133.63, a PEG ratio of 5.54 and a beta of 0.76. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 0.19.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.06. The company had revenue of $540.98 million for the quarter, compared to analysts’ expectations of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. Tyler Technologies’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $1.53 EPS. As a group, equities analysts predict that Tyler Technologies will post 6.5 EPS for the current fiscal year.

Insider Buying and Selling

In other Tyler Technologies news, CFO Brian K. Miller sold 2,671 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $465.03, for a total transaction of $1,242,095.13. Following the sale, the chief financial officer now owns 13,536 shares in the company, valued at approximately $6,294,646.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Brian K. Miller sold 2,671 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $465.03, for a total value of $1,242,095.13. Following the completion of the transaction, the chief financial officer now owns 13,536 shares of the company’s stock, valued at approximately $6,294,646.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $481.83, for a total value of $2,529,607.50. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $36,137,250. The disclosure for this sale can be found here. Insiders have sold a total of 21,241 shares of company stock worth $10,201,740 in the last ninety days. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Tyler Technologies

Several large investors have recently bought and sold shares of the company. Independence Bank of Kentucky purchased a new stake in shares of Tyler Technologies in the second quarter valued at approximately $25,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Tyler Technologies in the fourth quarter valued at approximately $26,000. Covestor Ltd grew its position in shares of Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after purchasing an additional 43 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Tyler Technologies in the fourth quarter valued at approximately $31,000. Finally, Blue Trust Inc. grew its position in shares of Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after purchasing an additional 56 shares in the last quarter. 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.