Tyler Technologies (NYSE:TYL) Given “Overweight” Rating at Piper Sandler

Tyler Technologies (NYSE:TYL)‘s stock had its “overweight” rating reissued by analysts at Piper Sandler in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $520.00 price objective on the technology company’s stock. Piper Sandler’s price objective suggests a potential upside of 13.43% from the stock’s current price.

TYL has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price target on shares of Tyler Technologies from $500.00 to $526.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Needham & Company LLC boosted their target price on shares of Tyler Technologies from $475.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, February 15th. DA Davidson boosted their target price on shares of Tyler Technologies from $412.00 to $434.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Finally, JMP Securities reissued a “market outperform” rating and set a $490.00 target price on shares of Tyler Technologies in a report on Friday, February 16th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $460.46.

Tyler Technologies Trading Up 9.4 %

NYSE:TYL opened at $458.45 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $19.46 billion, a PE ratio of 117.85, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. The firm’s 50 day moving average is $422.28 and its 200 day moving average is $414.52. Tyler Technologies has a 12 month low of $361.16 and a 12 month high of $464.81.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. The company had revenue of $480.94 million for the quarter, compared to analysts’ expectations of $483.34 million. Tyler Technologies had a net margin of 8.50% and a return on equity of 8.85%. Sell-side analysts expect that Tyler Technologies will post 6.77 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO H Lynn Moore, Jr. sold 1,849 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $421.19, for a total value of $778,780.31. Following the completion of the transaction, the chief executive officer now directly owns 79,502 shares in the company, valued at $33,485,447.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 1,849 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $421.19, for a total transaction of $778,780.31. Following the completion of the sale, the chief executive officer now directly owns 79,502 shares in the company, valued at $33,485,447.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 7,500 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $435.19, for a total transaction of $3,263,925.00. Following the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $32,639,250. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,608 shares of company stock worth $21,974,819. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

Several institutional investors have recently added to or reduced their stakes in TYL. CWM LLC raised its stake in shares of Tyler Technologies by 18.0% during the third quarter. CWM LLC now owns 517 shares of the technology company’s stock valued at $200,000 after acquiring an additional 79 shares during the last quarter. AE Wealth Management LLC raised its stake in shares of Tyler Technologies by 23.3% during the third quarter. AE Wealth Management LLC now owns 4,518 shares of the technology company’s stock valued at $1,745,000 after acquiring an additional 854 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Tyler Technologies by 3.3% during the third quarter. SG Americas Securities LLC now owns 3,553 shares of the technology company’s stock valued at $1,372,000 after acquiring an additional 114 shares during the last quarter. Czech National Bank raised its stake in shares of Tyler Technologies by 48.2% during the third quarter. Czech National Bank now owns 7,354 shares of the technology company’s stock valued at $2,840,000 after acquiring an additional 2,391 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in shares of Tyler Technologies by 16.9% during the third quarter. Handelsbanken Fonder AB now owns 172,071 shares of the technology company’s stock valued at $66,443,000 after acquiring an additional 24,920 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 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.