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

Tyler Technologies (NYSE:TYL) had its price objective upped by Barclays from $700.00 to $705.00 in a research note published on Friday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other brokerages also recently issued reports on TYL. Wells Fargo & Company raised their price objective on shares of Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. BTIG Research raised their price target on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. DA Davidson boosted their price objective on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird increased their target price on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Truist Financial reissued a “buy” rating and set a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $642.62.

Tyler Technologies Stock Down 0.9 %

NYSE TYL opened at $605.86 on Friday. The stock has a 50 day moving average price of $584.88 and a 200-day moving average price of $528.21. Tyler Technologies has a one year low of $361.16 and a one year high of $631.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $25.72 billion, a P/E ratio of 137.07, a P/E/G ratio of 5.42 and a beta of 0.78.

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

Insider Activity

In related news, CFO Brian K. Miller sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was 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 directly owns 11,950 shares of the company’s stock, valued at $6,787,122. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Tyler Technologies news, CFO Brian K. Miller sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $567.96, for a total value of $1,135,920.00. Following the completion of the sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at approximately $6,787,122. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction dated 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 approximately $43,236,750. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,100 shares of company stock worth $16,890,717. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Diversify Wealth Management LLC raised its stake in Tyler Technologies by 8.4% in the 3rd quarter. Diversify Wealth Management LLC now owns 1,037 shares of the technology company’s stock worth $604,000 after acquiring an additional 80 shares during the last quarter. abrdn plc grew its stake in Tyler Technologies by 32.9% during the 3rd quarter. abrdn plc now owns 12,340 shares of the technology company’s stock valued at $7,180,000 after purchasing an additional 3,056 shares during the last quarter. Cavalier Investments LLC increased its holdings in shares of Tyler Technologies by 4.7% in the third quarter. Cavalier Investments LLC now owns 1,532 shares of the technology company’s stock valued at $894,000 after purchasing an additional 69 shares during the period. Ellis Investment Partners LLC purchased a new position in shares of Tyler Technologies in the third quarter worth about $218,000. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Tyler Technologies by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 4,952 shares of the technology company’s stock worth $2,890,000 after purchasing an additional 335 shares during the period. Hedge funds and other 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.