Piper Sandler Raises Tyler Technologies (NYSE:TYL) Price Target to $625.00

Tyler Technologies (NYSE:TYL) had its price objective upped by Piper Sandler from $529.00 to $625.00 in a research note published on Friday, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other equities analysts have also commented on the stock. Barclays raised their price objective on shares of Tyler Technologies from $473.00 to $515.00 and gave the company an equal weight rating in a research report on Thursday, July 11th. Truist Financial reissued a buy rating and issued a $560.00 price target (up from $510.00) on shares of Tyler Technologies in a report on Thursday, May 23rd. JMP Securities upped their price target on shares of Tyler Technologies from $490.00 to $580.00 and gave the stock a market outperform rating in a report on Monday, July 22nd. BTIG Research lifted their price objective on Tyler Technologies from $515.00 to $550.00 and gave the company a buy rating in a research note on Wednesday, May 22nd. Finally, Oppenheimer upped their target price on Tyler Technologies from $550.00 to $625.00 and gave the stock an outperform rating in a research note on Friday. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $582.31.

Tyler Technologies Trading Down 2.3 %

NYSE:TYL opened at $576.99 on Friday. The company has a market cap of $24.50 billion, a P/E ratio of 130.54, a P/E/G ratio of 6.06 and a beta of 0.76. Tyler Technologies has a 1 year low of $361.16 and a 1 year high of $593.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 0.94. The stock’s fifty day moving average price is $501.04 and its two-hundred day moving average price is $458.42.

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. The business 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%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.53 EPS. As a group, analysts expect that Tyler Technologies will post 6.5 EPS for the current year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,250 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $481.83, for a total value of $2,529,607.50. Following the completion of the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $36,137,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $481.83, for a total transaction of $2,529,607.50. Following the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $36,137,250. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $483.21, for a total transaction of $2,899,260.00. Following the completion of the sale, 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. In the last three months, insiders have sold 21,241 shares of company stock valued at $10,201,740. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Several institutional investors and hedge funds have recently bought and sold shares of TYL. SG Americas Securities LLC lifted its position in Tyler Technologies by 20.1% in the fourth quarter. SG Americas Securities LLC now owns 4,266 shares of the technology company’s stock valued at $1,784,000 after purchasing an additional 713 shares during the last quarter. HB Wealth Management LLC increased its stake in shares of Tyler Technologies by 27.2% in the fourth quarter. HB Wealth Management LLC now owns 804 shares of the technology company’s stock worth $336,000 after buying an additional 172 shares during the period. Pacer Advisors Inc. raised its holdings in Tyler Technologies by 13.2% during the 4th quarter. Pacer Advisors Inc. now owns 3,784 shares of the technology company’s stock valued at $1,582,000 after buying an additional 442 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Tyler Technologies by 11.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 18,257 shares of the technology company’s stock valued at $7,634,000 after buying an additional 1,809 shares during the period. Finally, Trueblood Wealth Management LLC bought a new stake in Tyler Technologies in the 4th quarter worth $270,000. 93.30% of the stock is currently owned by institutional investors.

Tyler Technologies Company Profile

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.