Tyler Technologies (NYSE:TYL) Reaches New 12-Month High at $464.81

Tyler Technologies, Inc. (NYSE:TYL) shares hit a new 52-week high on Thursday . The company traded as high as $464.81 and last traded at $447.07, with a volume of 114642 shares trading hands. The stock had previously closed at $419.00.

Analysts Set New Price Targets

TYL has been the subject of a number of research analyst reports. JMP Securities restated a “market outperform” rating and set a $490.00 price objective on shares of Tyler Technologies in a report on Friday. JPMorgan Chase & Co. upped their price target on Tyler Technologies from $500.00 to $526.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. DA Davidson lifted their price objective on Tyler Technologies from $412.00 to $434.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Piper Sandler reiterated an “overweight” rating and set a $520.00 target price on shares of Tyler Technologies in a report on Wednesday. Finally, Oppenheimer raised their price target on shares of Tyler Technologies from $480.00 to $500.00 and gave the company an “outperform” rating in a report on Friday. Three investment 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, the company presently has an average rating of “Moderate Buy” and an average target price of $465.85.

Tyler Technologies Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.94. The stock has a fifty day simple moving average of $422.62 and a two-hundred day simple moving average of $414.83. The stock has a market cap of $19.56 billion, a PE ratio of 104.24, a PEG ratio of 4.51 and a beta of 0.81.

Tyler Technologies (NYSE:TYL) last posted its 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 business had revenue of $480.94 million for the quarter, compared to analysts’ expectations of $483.34 million. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. Equities analysts anticipate that Tyler Technologies, Inc. will post 6.77 EPS for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 6,500 shares of Tyler Technologies stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $437.49, for a total transaction of $2,843,685.00. Following the sale, the insider now directly owns 6,400 shares of the company’s stock, valued at $2,799,936. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,500 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $437.49, for a total transaction of $2,843,685.00. Following the completion of the sale, the insider now owns 6,400 shares in the company, valued at approximately $2,799,936. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Glenn A. Carter sold 1,650 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $437.84, for a total value of $722,436.00. Following the sale, the director now owns 2,011 shares in the company, valued at $880,496.24. The disclosure for this sale can be found here. Insiders sold a total of 50,608 shares of company stock valued at $21,974,819 in the last ninety days. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TYL. CWM LLC raised its stake in shares of Tyler Technologies by 18.0% in the 3rd quarter. CWM LLC now owns 517 shares of the technology company’s stock valued at $200,000 after purchasing an additional 79 shares in the last quarter. SG Americas Securities LLC raised its stake in 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 buying an additional 114 shares in the last quarter. Czech National Bank lifted its holdings in 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 buying an additional 2,391 shares during the last quarter. MCF Advisors LLC acquired a new position in shares of Tyler Technologies in the 3rd quarter worth approximately $1,737,000. Finally, Cavalier Investments LLC increased its holdings in shares of Tyler Technologies by 2.7% in the 3rd quarter. Cavalier Investments LLC now owns 1,352 shares of the technology company’s stock valued at $522,000 after acquiring an additional 35 shares during the last quarter. 93.30% of the stock is currently owned by 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.