Barclays Raises Tyler Technologies (NYSE:TYL) Price Target to $705.00

Tyler Technologies (NYSE:TYL) had its price target boosted by Barclays from $700.00 to $705.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s price target suggests a potential upside of 15.82% from the stock’s current price.

TYL has been the topic of several other research reports. Needham & Company LLC lifted their price target on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler boosted their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a report on Friday. Oppenheimer boosted their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday. Wells Fargo & Company boosted their target price on shares of Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, BTIG Research boosted their target price on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Stock Performance

Shares of TYL traded down $2.98 on Friday, reaching $608.69. The company’s stock had a trading volume of 117,450 shares, compared to its average volume of 227,571. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $25.97 billion, a P/E ratio of 125.11, a PEG ratio of 5.42 and a beta of 0.78. The stock’s 50 day simple moving average is $584.45 and its two-hundred day simple moving average is $525.37. Tyler Technologies has a 12-month low of $361.16 and a 12-month high of $631.43.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.09. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The business 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 firm earned $1.66 earnings per share. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts forecast that Tyler Technologies will post 7.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Brian K. Miller sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $567.96, for a total value of $1,135,920.00. Following the sale, the chief financial officer now owns 11,950 shares in the company, valued at approximately $6,787,122. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $43,236,750. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian K. Miller sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $567.96, for a total transaction of $1,135,920.00. Following the transaction, the chief financial officer now owns 11,950 shares in the company, valued at $6,787,122. This trade represents a 0.00 % decrease in their position. 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. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Tyler Technologies by 1.1% during 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 last quarter. APG Asset Management N.V. increased its position in 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 valued at $706,994,000 after acquiring an additional 20,842 shares during the last quarter. Van ECK Associates Corp increased its position in Tyler Technologies by 6.3% during the first quarter. Van ECK Associates Corp now owns 922,942 shares of the technology company’s stock valued at $392,259,000 after acquiring an additional 54,926 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of 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 purchasing an additional 70,801 shares during the last quarter. Finally, Swedbank AB purchased a new position in Tyler Technologies in the 2nd quarter worth about $251,390,000. 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.