The Goldman Sachs Group Issues Positive Forecast for Tyler Technologies (NYSE:TYL) Stock Price

Tyler Technologies (NYSE:TYL) had its price target upped by investment analysts at The Goldman Sachs Group from $660.00 to $728.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 13.73% from the company’s current price.

Several other research firms have also issued reports on TYL. Wells Fargo & Company restated an “equal weight” rating and issued a $615.00 target price (down previously from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Truist Financial reiterated a “buy” rating and set a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a report on Friday. Robert W. Baird lifted their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Piper Sandler lifted their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a report on Friday. Finally, DA Davidson reiterated a “neutral” rating and set a $575.00 price objective on shares of Tyler Technologies in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $676.25.

Tyler Technologies Price Performance

TYL stock traded down $1.57 during trading on Tuesday, hitting $640.13. 355,198 shares of the company’s stock traded hands, compared to its average volume of 243,991. Tyler Technologies has a 52 week low of $397.80 and a 52 week high of $661.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The business has a fifty day simple moving average of $596.62 and a 200 day simple moving average of $594.99. The stock has a market capitalization of $27.40 billion, a price-to-earnings ratio of 116.81, a P/E/G ratio of 4.78 and a beta of 0.78.

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

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,424,079.65. The trade was a 46.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO H Lynn Moore, Jr. sold 3,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $631.41, for a total transaction of $2,052,082.50. Following the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $47,355,750. This represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock valued at $18,941,368 in the last 90 days. Insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

Large investors have recently bought and sold shares of the stock. Larson Financial Group LLC grew its position in Tyler Technologies by 221.4% during the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after purchasing an additional 31 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Tyler Technologies during the 3rd quarter worth approximately $27,000. Sierra Ocean LLC purchased a new stake in Tyler Technologies during the 4th quarter worth approximately $32,000. Brown Brothers Harriman & Co. lifted its stake in Tyler Technologies by 300.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after acquiring an additional 42 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new stake in Tyler Technologies during the 4th quarter valued at approximately $40,000. 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.