Tyler Technologies, Inc. (NYSE:TYL) Receives $607.57 Average Target Price from Analysts

Tyler Technologies, Inc. (NYSE:TYL) has earned an average rating of “Moderate Buy” from the sixteen research firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $601.1429.

A number of research firms recently weighed in on TYL. Evercore restated a “positive” rating on shares of Tyler Technologies in a research note on Friday, October 31st. Piper Sandler lowered their price target on shares of Tyler Technologies from $708.00 to $671.00 and set an “overweight” rating for the company in a report on Tuesday, January 13th. Needham & Company LLC restated a “buy” rating and issued a $750.00 price objective on shares of Tyler Technologies in a report on Tuesday, February 3rd. Robert W. Baird set a $660.00 price objective on shares of Tyler Technologies in a research report on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tyler Technologies in a report on Friday, January 9th.

Tyler Technologies Trading Up 2.0%

NYSE:TYL opened at $355.24 on Thursday. The firm has a market cap of $15.29 billion, a PE ratio of 49.41, a price-to-earnings-growth ratio of 2.35 and a beta of 0.91. The stock has a fifty day moving average price of $434.57 and a 200 day moving average price of $492.10. Tyler Technologies has a 12-month low of $320.23 and a 12-month high of $661.31.

Insider Activity

In other news, CFO Brian K. Miller sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $448.51, for a total transaction of $448,510.00. Following the completion of the sale, the chief financial officer owned 17,148 shares in the company, valued at approximately $7,691,049.48. The trade was a 5.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Glenn A. Carter sold 500 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $458.73, for a total transaction of $229,365.00. Following the completion of the transaction, the director owned 3,172 shares of the company’s stock, valued at approximately $1,455,091.56. The trade was a 13.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,500 shares of company stock worth $1,605,605 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Several large investors have recently bought and sold shares of the stock. Lazard Freres Gestion S.A.S. grew its stake in shares of Tyler Technologies by 150.0% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 5,000 shares of the technology company’s stock worth $2,615,000 after purchasing an additional 3,000 shares during the period. General American Investors Co. Inc. boosted its stake in shares of Tyler Technologies by 7.2% during the 3rd quarter. General American Investors Co. Inc. now owns 44,381 shares of the technology company’s stock worth $23,218,000 after acquiring an additional 3,000 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Tyler Technologies by 11.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,410,640 shares of the technology company’s stock worth $738,010,000 after acquiring an additional 144,612 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Tyler Technologies in the 3rd quarter worth approximately $1,749,000. Finally, ProShare Advisors LLC increased its stake in Tyler Technologies by 7.8% in the 2nd quarter. ProShare Advisors LLC now owns 11,511 shares of the technology company’s stock valued at $6,824,000 after purchasing an additional 834 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.