Tyler Technologies (NYSE:TYL) PT Raised to $701.00 at Piper Sandler

Tyler Technologies (NYSE:TYL) had its price objective boosted by Piper Sandler from $625.00 to $701.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price target indicates a potential upside of 14.64% from the company’s previous close.

Other analysts also recently issued research reports about the stock. DA Davidson lifted their target price on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Truist Financial reaffirmed a “buy” rating and issued a $600.00 price objective (up previously from $560.00) on shares of Tyler Technologies in a report on Friday, July 26th. BTIG Research increased their target price on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. JMP Securities lifted their price target on Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a research note on Monday, July 22nd. Finally, Oppenheimer increased their price objective on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $613.00.

Tyler Technologies Stock Up 5.0 %

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

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

Insider Activity at Tyler Technologies

In other Tyler Technologies news, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tyler Technologies news, Director Daniel M. Pope sold 275 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was 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 of the company’s stock, valued at approximately $1,860,840.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total value of $2,954,900.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at $44,323,500. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have 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 and other institutional investors have recently modified their holdings of the company. Independence Bank of Kentucky acquired a new stake in Tyler Technologies during the second quarter worth approximately $25,000. Covestor Ltd boosted its holdings in shares of Tyler Technologies by 153.6% during the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after purchasing an additional 43 shares during the last quarter. Blue Trust Inc. grew its position in shares of Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after purchasing an additional 56 shares during the period. Lynx Investment Advisory purchased a new position in Tyler Technologies during the second quarter worth about $38,000. Finally, Larson Financial Group LLC lifted its position in Tyler Technologies by 675.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the technology company’s stock worth $40,000 after buying an additional 81 shares during the period. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

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.