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

Needham & Company LLC restated their buy rating on shares of Tyler Technologies (NYSE:TYL) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $750.00 price objective on the technology company’s stock.

A number of other equities research analysts have also issued reports on TYL. Robert W. Baird dropped their price objective on shares of Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, April 25th. DA Davidson dropped their price objective on shares of Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating for the company in a report on Friday, April 25th. Wells Fargo & Company dropped their price objective on shares of Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Truist Financial reissued a “buy” rating and issued a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Finally, Piper Sandler lowered their target price on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $674.67.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $568.68 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. Tyler Technologies has a 52-week low of $458.50 and a 52-week high of $661.31. The company has a fifty day simple moving average of $561.45 and a 200-day simple moving average of $590.38. The firm has a market capitalization of $24.52 billion, a price-to-earnings ratio of 93.84, a PEG ratio of 4.93 and a beta of 0.88.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.22. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The firm had revenue of $562.43 million during the quarter, compared to analyst estimates of $556.45 million. During the same quarter in the prior year, the firm posted $2.20 earnings per share. Tyler Technologies’s quarterly revenue was up 10.3% on a year-over-year basis. On average, equities analysts anticipate that Tyler Technologies will post 8.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Daniel M. Pope sold 365 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $550.00, for a total value of $200,750.00. Following the completion of the transaction, the director now owns 2,853 shares of the company’s stock, valued at approximately $1,569,150. This trade represents a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the transaction, the chief executive officer now directly owns 75,734 shares of the company’s stock, valued at approximately $46,772,561.06. The trade was a 7.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,462 shares of company stock valued at $12,258,926 over the last 90 days. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TYL. Larson Financial Group LLC boosted its stake in shares of Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after purchasing an additional 31 shares during the period. Retirement Wealth Solutions LLC purchased a new position in shares of Tyler Technologies in the first quarter valued at approximately $26,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Tyler Technologies by 820.0% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company’s stock valued at $27,000 after purchasing an additional 41 shares during the period. Sierra Ocean LLC purchased a new position in shares of Tyler Technologies in the fourth quarter valued at approximately $32,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors 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.