Tyler Technologies’ (TYL) “Buy” Rating Reaffirmed at Truist Financial

Truist Financial reiterated their buy rating on shares of Tyler Technologies (NYSE:TYL) in a research report released on Friday, Benzinga reports. The brokerage currently has a $685.00 price target on the technology company’s stock, up from their previous price target of $600.00.

A number of other equities analysts also recently commented on TYL. DA Davidson lifted their target price on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird lifted their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday. BTIG Research increased their price objective on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Oppenheimer lifted their target price on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Wells Fargo & Company increased their price target on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Tyler Technologies has an average rating of “Moderate Buy” and a consensus target price of $642.62.

Tyler Technologies Trading Down 0.9 %

Shares of Tyler Technologies stock opened at $605.86 on Friday. 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’s 50 day simple moving average is $584.88 and its 200-day simple moving average is $526.68. The stock has a market cap of $25.85 billion, a P/E ratio of 125.18, a P/E/G ratio of 5.42 and a beta of 0.78. Tyler Technologies has a 1-year low of $361.16 and a 1-year high of $631.43.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data 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 company had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. During the same quarter in the previous year, the company posted $1.66 earnings per share. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Analysts predict that Tyler Technologies will post 7.21 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total value of $3,603,062.50. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $43,236,750. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider John S. Marr, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,042,738.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $576.49, for a total value of $3,603,062.50. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $43,236,750. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,375 shares of company stock valued at $17,049,739. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Tyler Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TYL. Vanguard Group Inc. grew its position in shares of Tyler Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 5,022,053 shares of the technology company’s stock valued at $2,134,423,000 after buying an additional 53,005 shares during the last quarter. APG Asset Management N.V. grew its holdings 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 during the last quarter. Van ECK Associates Corp increased its position in shares of Tyler Technologies by 6.3% during the first quarter. Van ECK Associates Corp now owns 922,942 shares of the technology company’s stock worth $392,259,000 after purchasing an additional 54,926 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Tyler Technologies by 15.3% in the 1st quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock valued at $226,501,000 after purchasing an additional 70,801 shares during the period. Finally, Swedbank AB purchased a new position in Tyler Technologies during the 2nd quarter worth approximately $251,390,000. Institutional investors and hedge funds 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.