Tyler Technologies (NYSE:TYL) Rating Reiterated by The Goldman Sachs Group

The Goldman Sachs Group reaffirmed their buy rating on shares of Tyler Technologies (NYSE:TYL) in a research note published on Friday, Benzinga reports. The firm currently has a $627.00 price target on the technology company’s stock.

Several other research analysts have also commented on the company. DA Davidson raised their price target on Tyler Technologies from $456.00 to $525.00 and gave the stock a neutral rating in a research report on Friday, July 26th. Piper Sandler increased their price objective on Tyler Technologies from $529.00 to $625.00 and gave the company an overweight rating in a research note on Friday, July 26th. Truist Financial reiterated a buy rating and issued a $600.00 price objective (up from $560.00) on shares of Tyler Technologies in a research note on Friday, July 26th. Wells Fargo & Company increased their price objective on Tyler Technologies from $580.00 to $600.00 and gave the company an overweight rating in a research note on Friday, July 26th. Finally, BTIG Research increased their price objective on Tyler Technologies from $550.00 to $630.00 and gave the company a buy rating in a research note on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $582.31.

Tyler Technologies Trading Up 0.6 %

Shares of Tyler Technologies stock opened at $585.73 on Friday. The firm has a market capitalization of $24.99 billion, a price-to-earnings ratio of 132.52, a PEG ratio of 5.39 and a beta of 0.78. Tyler Technologies has a fifty-two week low of $361.16 and a fifty-two week high of $598.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a 50 day moving average of $564.01 and a 200 day moving average of $493.33.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.06. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The company had revenue of $540.98 million during the quarter, compared to analyst estimates of $541.01 million. During the same period in the prior year, the business posted $1.53 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts predict that Tyler Technologies will post 7.21 earnings per share for the current year.

Insider Transactions at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the sale, the chief executive officer now owns 75,000 shares in the company, valued at $43,246,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $43,246,500. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Glenn A. Carter sold 3,350 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $582.57, for a total value of $1,951,609.50. Following the transaction, the director now directly owns 2,654 shares in the company, valued at approximately $1,546,140.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,375 shares of company stock worth $17,049,739. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Waldron Private Wealth LLC boosted its holdings in Tyler Technologies by 3.5% in the 2nd quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock valued at $360,000 after purchasing an additional 24 shares in the last quarter. Industrial Alliance Investment Management Inc. boosted its holdings 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 purchasing an additional 29 shares in the last quarter. George Kaiser Family Foundation boosted its holdings in Tyler Technologies by 0.7% in the 2nd quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock valued at $2,100,000 after purchasing an additional 29 shares in the last quarter. GW&K Investment Management LLC boosted its holdings in Tyler Technologies by 0.3% in the 4th quarter. GW&K Investment Management LLC now owns 12,044 shares of the technology company’s stock valued at $5,035,000 after purchasing an additional 31 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its holdings in Tyler Technologies by 5.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 670 shares of the technology company’s stock valued at $280,000 after purchasing an additional 33 shares in the last quarter. Hedge funds and other institutional investors 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.