Tyler Technologies (NYSE:TYL) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Tyler Technologies (NYSE:TYL) in a research report report published on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $500.00 price target on the technology company’s stock.

A number of other equities analysts have also issued reports on the stock. JMP Securities reaffirmed a market outperform rating and set a $490.00 target price on shares of Tyler Technologies in a research report on Friday, February 16th. Piper Sandler reaffirmed an overweight rating and set a $520.00 target price on shares of Tyler Technologies in a research report on Wednesday. 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 research note on Thursday, February 15th. Finally, DA Davidson lifted their price target on shares of Tyler Technologies from $412.00 to $434.00 and gave the stock a neutral rating in a research note on Thursday, February 22nd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Tyler Technologies currently has a consensus rating of Moderate Buy and a consensus target price of $460.46.

Tyler Technologies Stock Performance

TYL stock opened at $458.45 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $19.46 billion, a P/E ratio of 103.72, a P/E/G ratio of 4.12 and a beta of 0.81. The firm has a 50 day simple moving average of $422.28 and a 200 day simple moving average of $414.52. Tyler Technologies has a 52 week low of $361.16 and a 52 week 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 the consensus estimate of $1.33 by $0.06. The business had revenue of $480.94 million during 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 9.49%. Research analysts anticipate that Tyler Technologies will post 6.77 earnings per share for the current fiscal year.

Insider Buying and Selling

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 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO H Lynn Moore, Jr. sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $435.98, for a total transaction of $4,359,800.00. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $32,698,500. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 7,500 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $435.19, for a total value of $3,263,925.00. Following the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $32,639,250. The disclosure for this sale can be found here. Insiders have sold a total of 50,608 shares of company stock worth $21,974,819 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in TYL. CWM LLC raised its holdings in 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 during the last quarter. AE Wealth Management LLC increased its stake in shares of Tyler Technologies by 23.3% in the 3rd 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 increased its stake in shares of Tyler Technologies by 3.3% in the 3rd 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 increased its stake in shares of Tyler Technologies by 48.2% in the 3rd 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 increased its stake in shares of Tyler Technologies by 16.9% in the 3rd 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 owned by institutional investors.

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.