Tyler Technologies (NYSE:TYL) Rating Reiterated by Needham & Company LLC

Tyler Technologies (NYSE:TYL)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research report issued on Thursday, Benzinga reports. They currently have a $500.00 price objective on the technology company’s stock. Needham & Company LLC’s target price indicates a potential upside of 8.52% from the company’s current price.

Several other brokerages have also recently commented on TYL. DA Davidson boosted their price target on shares of Tyler Technologies from $412.00 to $434.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $490.00 target price on shares of Tyler Technologies in a report on Friday, February 16th. JPMorgan Chase & Co. upped their target price on shares of Tyler Technologies from $500.00 to $526.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $520.00 target price on shares of Tyler Technologies in a report on Wednesday. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tyler Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $465.85.

Tyler Technologies Trading Up 0.6 %

Shares of NYSE:TYL opened at $460.74 on Thursday. The company’s 50-day moving average price is $422.62 and its two-hundred day moving average price is $414.83. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.86 and a quick ratio of 0.86. Tyler Technologies has a one year low of $361.16 and a one year high of $465.78. The stock has a market capitalization of $19.55 billion, a PE ratio of 104.24, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.33 by $0.06. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.49%. The firm had revenue of $480.94 million for the quarter, compared to analysts’ expectations of $483.34 million. On average, equities analysts forecast that Tyler Technologies will post 6.77 EPS for the current fiscal year.

Insider Activity at Tyler Technologies

In related news, 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 value of $3,263,925.00. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $32,639,250. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Tyler Technologies news, CFO Brian K. Miller sold 5,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $442.99, for a total transaction of $2,214,950.00. Following the transaction, the chief financial officer now owns 14,610 shares in the company, valued at approximately $6,472,083.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 7,500 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $435.19, for a total transaction of $3,263,925.00. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $32,639,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,608 shares of company stock worth $21,974,819. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TYL. CWM LLC grew its position in shares of Tyler Technologies by 18.0% during the 3rd quarter. CWM LLC now owns 517 shares of the technology company’s stock worth $200,000 after purchasing an additional 79 shares in the last quarter. AE Wealth Management LLC lifted its holdings in shares of Tyler Technologies by 23.3% during the 3rd quarter. AE Wealth Management LLC now owns 4,518 shares of the technology company’s stock worth $1,745,000 after acquiring an additional 854 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Tyler Technologies by 3.3% during the 3rd quarter. SG Americas Securities LLC now owns 3,553 shares of the technology company’s stock worth $1,372,000 after acquiring an additional 114 shares during the period. Czech National Bank lifted its holdings in shares of Tyler Technologies by 48.2% during the 3rd quarter. Czech National Bank now owns 7,354 shares of the technology company’s stock worth $2,840,000 after acquiring an additional 2,391 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Tyler Technologies by 16.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 172,071 shares of the technology company’s stock worth $66,443,000 after acquiring an additional 24,920 shares during the period. Institutional investors and hedge funds 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.