Tyler Technologies (NYSE:TYL) Price Target Raised to $525.00

Tyler Technologies (NYSE:TYL) had its price target increased by DA Davidson from $456.00 to $525.00 in a report issued on Friday, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

A number of other research analysts have also recently issued reports on the stock. Piper Sandler lifted their price target on shares of Tyler Technologies from $529.00 to $625.00 and gave the company an overweight rating in a research report on Friday. JMP Securities lifted their price target on shares of Tyler Technologies from $490.00 to $580.00 and gave the company a market outperform rating in a research report on Monday, July 22nd. Robert W. Baird lifted their price target on shares of Tyler Technologies from $500.00 to $525.00 and gave the company an outperform rating in a research report on Friday, April 26th. Barclays lifted their price target on shares of Tyler Technologies from $473.00 to $515.00 and gave the company an equal weight rating in a research report on Thursday, July 11th. Finally, BTIG Research lifted their price target on shares of Tyler Technologies from $515.00 to $550.00 and gave the company a buy rating in a research report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Tyler Technologies currently has a consensus rating of Moderate Buy and a consensus target price of $582.31.

Tyler Technologies Stock Performance

NYSE TYL opened at $590.65 on Friday. Tyler Technologies has a 1 year low of $361.16 and a 1 year high of $593.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 0.94. The stock has a market capitalization of $25.08 billion, a PE ratio of 133.63, a P/E/G ratio of 5.54 and a beta of 0.76. The company’s 50 day simple moving average is $499.37 and its two-hundred day simple moving average is $457.35.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.34 by $0.06. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The company had revenue of $540.98 million for the quarter, compared to analyst estimates of $541.01 million. During the same quarter last year, the firm earned $1.53 EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. Analysts predict that Tyler Technologies will post 6.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tyler Technologies news, CFO Brian K. Miller sold 2,671 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $465.03, for a total transaction of $1,242,095.13. Following the completion of the transaction, the chief financial officer now owns 13,536 shares in the company, valued at approximately $6,294,646.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Brian K. Miller sold 2,671 shares of Tyler Technologies stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $465.03, for a total transaction of $1,242,095.13. Following the completion of the sale, the chief financial officer now directly owns 13,536 shares of the company’s stock, valued at approximately $6,294,646.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian K. Miller sold 800 shares of Tyler Technologies stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $479.28, for a total transaction of $383,424.00. Following the sale, the chief financial officer now directly owns 12,736 shares of the company’s stock, valued at $6,104,110.08. The disclosure for this sale can be found here. Insiders have sold 21,241 shares of company stock worth $10,201,740 over the last three months. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. HB Wealth Management LLC increased its stake in Tyler Technologies by 13.0% in the second quarter. HB Wealth Management LLC now owns 949 shares of the technology company’s stock valued at $477,000 after purchasing an additional 109 shares during the period. Conestoga Capital Advisors LLC increased its stake in Tyler Technologies by 17.8% in the second quarter. Conestoga Capital Advisors LLC now owns 87,341 shares of the technology company’s stock valued at $43,913,000 after purchasing an additional 13,215 shares during the period. AustralianSuper Pty Ltd acquired a new position in Tyler Technologies in the second quarter valued at $219,000. Atomi Financial Group Inc. increased its stake in Tyler Technologies by 3.2% in the second quarter. Atomi Financial Group Inc. now owns 1,367 shares of the technology company’s stock valued at $687,000 after purchasing an additional 43 shares during the period. Finally, State of Michigan Retirement System increased its stake in shares of Tyler Technologies by 0.9% during the second quarter. State of Michigan Retirement System now owns 11,637 shares of the technology company’s stock worth $5,851,000 after acquiring an additional 100 shares during the period. 93.30% of the stock is currently owned by institutional investors and hedge funds.

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.