Barclays Boosts Tyler Technologies (NYSE:TYL) Price Target to $715.00

Tyler Technologies (NYSE:TYL) had its price target upped by stock analysts at Barclays from $705.00 to $715.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective would suggest a potential upside of 11.30% from the company’s current price.

Other analysts also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 target price on shares of Tyler Technologies in a report on Tuesday, January 21st. DA Davidson reiterated a “neutral” rating and set a $575.00 price objective on shares of Tyler Technologies in a research report on Thursday, January 30th. StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Truist Financial reaffirmed a “buy” rating and set a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $667.83.

Tyler Technologies Stock Performance

TYL opened at $642.39 on Friday. The business has a 50 day moving average price of $596.21 and a two-hundred day moving average price of $594.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $27.49 billion, a price-to-earnings ratio of 117.22, a price-to-earnings-growth ratio of 4.78 and a beta of 0.78. Tyler Technologies has a 1-year low of $397.80 and a 1-year high of $661.31.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Research analysts predict that Tyler Technologies will post 7.36 EPS for the current fiscal year.

Insider Activity

In other Tyler Technologies news, CFO Brian K. Miller sold 6,752 shares of Tyler Technologies stock in a transaction on Friday, December 13th. The shares were sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the completion of the sale, the chief financial officer now owns 11,918 shares of the company’s stock, valued at $7,314,672.50. This trade represents a 36.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at $4,285,187.78. This trade represents a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $18,941,368 in the last 90 days. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Tyler Technologies by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company’s stock valued at $3,062,190,000 after buying an additional 62,420 shares during the last quarter. Geode Capital Management LLC raised its position in Tyler Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company’s stock valued at $654,406,000 after acquiring an additional 27,826 shares in the last quarter. Franklin Resources Inc. lifted its stake in Tyler Technologies by 7.9% in the fourth quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company’s stock valued at $567,768,000 after acquiring an additional 71,869 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Tyler Technologies by 3.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 939,373 shares of the technology company’s stock worth $541,680,000 after acquiring an additional 35,198 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Tyler Technologies during the 4th quarter worth $528,465,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

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.