Needham & Company LLC Raises Tyler Technologies (NYSE:TYL) Price Target to $700.00

Tyler Technologies (NYSE:TYL) had its price objective upped by Needham & Company LLC from $600.00 to $700.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company increased their price objective on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Piper Sandler lifted their target price on shares of Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Oppenheimer boosted their price objective on shares of Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Barclays raised shares of Tyler Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $577.00 to $700.00 in a research note on Monday, October 7th. Finally, Evercore ISI raised shares of Tyler Technologies to a “hold” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $601.38.

Tyler Technologies Price Performance

TYL stock opened at $611.47 on Tuesday. Tyler Technologies has a 52-week low of $361.16 and a 52-week high of $631.43. The business has a 50-day simple moving average of $584.45 and a two-hundred day simple moving average of $525.37. The company has a market capitalization of $26.09 billion, a P/E ratio of 126.34, a price-to-earnings-growth ratio of 5.42 and a beta of 0.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The firm had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. During the same quarter in the previous year, the business earned $1.66 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. Research analysts expect that Tyler Technologies will post 7.21 EPS for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, Director Daniel M. Pope sold 275 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $578.26, for a total value of $159,021.50. Following the completion of the transaction, the director now directly owns 3,218 shares in the company, valued at $1,860,840.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Daniel M. Pope sold 275 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $578.26, for a total transaction of $159,021.50. Following the completion of the transaction, the director now owns 3,218 shares in the company, valued at approximately $1,860,840.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $590.98, for a total transaction of $2,954,900.00. Following the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $44,323,500. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,375 shares of company stock valued at $17,049,739. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Tyler Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 5,022,053 shares of the technology company’s stock valued at $2,134,423,000 after acquiring an additional 53,005 shares during the period. APG Asset Management N.V. increased its position in shares of Tyler Technologies by 1.4% during the second quarter. APG Asset Management N.V. now owns 1,507,062 shares of the technology company’s stock worth $706,994,000 after purchasing an additional 20,842 shares in the last quarter. Van ECK Associates Corp increased its position in Tyler Technologies by 6.3% during the 1st quarter. Van ECK Associates Corp now owns 922,942 shares of the technology company’s stock valued at $392,259,000 after buying an additional 54,926 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Tyler Technologies by 15.3% in the first quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock worth $226,501,000 after acquiring an additional 70,801 shares in the last quarter. Finally, Swedbank AB acquired a new stake in Tyler Technologies in the second quarter worth about $251,390,000. 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.