Tyler Technologies’ (TYL) “Buy” Rating Reiterated at Needham & Company LLC

Tyler Technologies (NYSE:TYL)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They presently have a $700.00 price objective on the technology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 22.98% from the stock’s current price.

TYL has been the subject of several other reports. JMP Securities upped their price objective on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research note on Friday, October 25th. DA Davidson boosted their target price on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company restated an “equal weight” rating and issued a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Barclays boosted their price objective on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Robert W. Baird raised their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and an average price target of $643.77.

Tyler Technologies Trading Down 1.1 %

NYSE TYL opened at $569.18 on Tuesday. Tyler Technologies has a one year low of $397.80 and a one year high of $638.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market capitalization of $24.36 billion, a price-to-earnings ratio of 103.87, a price-to-earnings-growth ratio of 4.42 and a beta of 0.78. The company’s 50-day simple moving average is $599.72 and its two-hundred day simple moving average is $584.55.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.09. The company had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Tyler Technologies’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $1.66 earnings per share. Equities analysts forecast that Tyler Technologies will post 7.36 EPS for the current fiscal year.

Insider Activity at Tyler Technologies

In other news, CFO Brian K. Miller sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the transaction, the chief financial officer now owns 11,950 shares in the company, valued at $7,202,504. This trade represents a 20.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the transaction, the insider now owns 6,983 shares of the company’s stock, valued at $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,252 shares of company stock worth $26,096,928. 1.50% of the stock is owned by company insiders.

Institutional Trading of Tyler Technologies

Several institutional investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Tyler Technologies in the third quarter worth approximately $27,000. Tobam purchased a new position in Tyler Technologies in the 3rd quarter valued at $78,000. Quarry LP acquired a new stake in Tyler Technologies during the 3rd quarter worth $78,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Tyler Technologies by 18.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock worth $78,000 after buying an additional 21 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Tyler Technologies in the third quarter valued at about $79,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Company Profile

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.