Analysts Set Tyler Technologies, Inc. (NYSE:TYL) Price Target at $680.50

Tyler Technologies, Inc. (NYSE:TYL) has received an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $685.09.

A number of brokerages have recently commented on TYL. Barclays cut their price objective on shares of Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. DA Davidson cut their price objective on shares of Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Wells Fargo & Company cut 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 research report on Tuesday, April 22nd. Piper Sandler cut their price objective on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $750.00 price objective on shares of Tyler Technologies in a research report on Tuesday, May 13th.

Tyler Technologies Stock Performance

NYSE:TYL opened at $555.52 on Friday. The firm’s 50-day moving average is $574.26 and its 200-day moving average is $578.49. The company has a market cap of $23.95 billion, a price-to-earnings ratio of 83.66, a PEG ratio of 4.35 and a beta of 0.84. Tyler Technologies has a 52-week low of $513.52 and a 52-week high of $661.31.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.22. The business had revenue of $562.43 million during the quarter, compared to analyst estimates of $556.45 million. Tyler Technologies had a net margin of 13.23% and a return on equity of 10.29%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.20 earnings per share. Equities analysts predict that Tyler Technologies will post 8.52 EPS for the current year.

Insider Buying and Selling at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $585.18, for a total value of $3,072,195.00. Following the completion of the transaction, the chief executive officer owned 81,775 shares of the company’s stock, valued at $47,853,094.50. This represents a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 5,000 shares of the company’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $558.86, for a total transaction of $2,794,300.00. Following the sale, the insider directly owned 6,983 shares in the company, valued at $3,902,519.38. This represents a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,500 shares of company stock worth $15,177,230. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Tyler Technologies

Large investors have recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC bought a new stake in Tyler Technologies during the first quarter worth about $26,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in Tyler Technologies by 820.0% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company’s stock worth $27,000 after buying an additional 41 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock worth $32,000 after buying an additional 42 shares during the last quarter. Cornerstone Planning Group LLC grew its stake in Tyler Technologies by 221.1% during the first quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company’s stock worth $35,000 after buying an additional 42 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in Tyler Technologies during the first quarter worth about $38,000. 93.30% of the stock is 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.