Piper Sandler Cuts Tyler Technologies (NYSE:TYL) Price Target to $671.00

Tyler Technologies (NYSE:TYL) had its price target decreased by Piper Sandler from $708.00 to $671.00 in a report released on Tuesday, MarketBeat Ratings reports. Piper Sandler currently has an overweight rating on the technology company’s stock.

A number of other research firms have also weighed in on TYL. DA Davidson lowered their price objective on shares of Tyler Technologies from $540.00 to $510.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 9th. Wells Fargo & Company lowered their target price on shares of Tyler Technologies from $525.00 to $470.00 and set an “equal weight” rating on the stock in a report on Thursday, January 8th. Evercore ISI reiterated a “positive” rating on shares of Tyler Technologies in a research note on Friday, October 31st. Needham & Company LLC restated a “buy” rating on shares of Tyler Technologies in a research report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tyler Technologies in a report on Friday, January 9th. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $617.57.

Tyler Technologies Stock Performance

Shares of TYL opened at $445.50 on Tuesday. Tyler Technologies has a fifty-two week low of $430.00 and a fifty-two week high of $661.31. The firm has a 50-day simple moving average of $458.31 and a 200-day simple moving average of $513.95. The company has a market capitalization of $19.17 billion, a price-to-earnings ratio of 61.96, a price-to-earnings-growth ratio of 3.05 and a beta of 0.91.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, October 29th. The technology company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.88 by $0.09. Tyler Technologies had a return on equity of 10.57% and a net margin of 13.72%.The firm had revenue of $595.88 million during the quarter, compared to the consensus estimate of $594.34 million. During the same period in the prior year, the business earned $2.52 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. Tyler Technologies has set its FY 2025 guidance at 11.300-11.500 EPS. Equities research analysts forecast that Tyler Technologies will post 8.52 EPS for the current year.

Insider Activity at Tyler Technologies

In related news, Director Glenn A. Carter sold 500 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $458.73, for a total value of $229,365.00. Following the sale, the director owned 3,172 shares in the company, valued at $1,455,091.56. This represents a 13.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brian K. Miller sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $448.51, for a total value of $448,510.00. Following the completion of the transaction, the chief financial officer directly owned 17,148 shares of the company’s stock, valued at $7,691,049.48. The trade was a 5.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,500 shares of company stock worth $1,605,605 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Several institutional investors and hedge funds have recently made changes to their positions in TYL. DLD Asset Management LP purchased a new position in Tyler Technologies during the 2nd quarter valued at about $5,780,190,000. Norges Bank acquired a new stake in shares of Tyler Technologies in the second quarter valued at approximately $712,276,000. Van ECK Associates Corp increased its stake in shares of Tyler Technologies by 55.1% during the 3rd quarter. Van ECK Associates Corp now owns 850,103 shares of the technology company’s stock worth $444,740,000 after purchasing an additional 301,885 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Tyler Technologies by 72.5% during the 3rd quarter. Wellington Management Group LLP now owns 600,776 shares of the technology company’s stock worth $314,302,000 after purchasing an additional 252,488 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Tyler Technologies by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 5,805,036 shares of the technology company’s stock worth $3,036,963,000 after purchasing an additional 234,916 shares during the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.