Barclays Issues Positive Forecast for Tyler Technologies (NYSE:TYL) Stock Price

Tyler Technologies (NYSE:TYL) had its price target increased by investment analysts at Barclays from $705.00 to $715.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective would suggest a potential upside of 11.51% from the stock’s previous close.

TYL has been the subject of several other reports. Piper Sandler boosted their target price on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research report on Friday. Robert W. Baird boosted their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Truist Financial reaffirmed a “buy” rating and issued a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. DA Davidson reiterated a “neutral” rating and set a $575.00 target price on shares of Tyler Technologies in a research report on Thursday, January 30th. Finally, StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $650.00.

Tyler Technologies Trading Down 0.9 %

Shares of Tyler Technologies stock traded down $5.52 during midday trading on Friday, reaching $641.22. 33,864 shares of the company’s stock traded hands, compared to its average volume of 234,058. The stock has a 50 day moving average of $595.47 and a 200-day moving average of $593.32. Tyler Technologies has a 12 month low of $397.80 and a 12 month high of $661.31. The company has a market cap of $27.44 billion, a PE ratio of 116.94, a price-to-earnings-growth ratio of 4.78 and a beta of 0.78. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. As a group, equities analysts expect that Tyler Technologies will post 7.36 EPS for the current fiscal year.

Insider Activity at Tyler Technologies

In related news, CFO Brian K. Miller sold 6,752 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $613.75, for a total value of $4,144,040.00. Following the completion of the transaction, the chief financial officer now directly owns 11,918 shares in the company, valued at $7,314,672.50. The trade was a 36.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the completion of the transaction, the insider now owns 6,983 shares in the company, valued at $4,424,079.65. The trade was a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $18,941,368 over the last three months. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Several large investors have recently made changes to their positions in the stock. Oak Thistle LLC boosted its position in shares of Tyler Technologies by 213.7% during the fourth quarter. Oak Thistle LLC now owns 2,328 shares of the technology company’s stock worth $1,342,000 after buying an additional 1,586 shares during the period. Aigen Investment Management LP purchased a new position in Tyler Technologies during the 3rd quarter valued at about $1,309,000. Maiden Cove Capital LLC acquired a new position in Tyler Technologies in the 3rd quarter valued at about $583,000. Assetmark Inc. increased its stake in Tyler Technologies by 9.4% during the third quarter. Assetmark Inc. now owns 9,910 shares of the technology company’s stock worth $5,785,000 after purchasing an additional 854 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Tyler Technologies during the third quarter worth about $569,000. 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.