Tyler Technologies, Inc. (NYSE:TYL) Stock Has Average Target Price of $440.88

Tyler Technologies, Inc. (NYSE:TYL) has been given an average rating of “Moderate Buy” by the sixteen ratings firms that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $440.88.

A number of brokerages recently weighed in on TYL. Guggenheim initiated coverage on Tyler Technologies in a research note on Wednesday, July 22nd. They set a “buy” rating and a $440.00 price objective for the company. UBS Group set a $395.00 target price on Tyler Technologies in a research note on Saturday, August 1st. DA Davidson reiterated a “buy” rating and issued a $460.00 target price on shares of Tyler Technologies in a report on Tuesday, October 27th. Zacks Research lowered shares of Tyler Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Finally, Piper Sandler began coverage on shares of Tyler Technologies in a research report on Monday, September 28th. They set an “overweight” rating and a $450.00 price target for the company.

Insider Transactions at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 10,000 shares of the stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $393.17, for a total transaction of $3,931,700.00. Following the completion of the sale, the chief executive officer owned 100,392 shares of the company’s stock, valued at $39,471,122.64. This represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel M. Pope sold 680 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $407.56, for a total transaction of $277,140.80. Following the completion of the sale, the director owned 2,643 shares of the company’s stock, valued at approximately $1,077,181.08. This trade represents a 20.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 38,430 shares of company stock valued at $14,883,788 in the last 90 days. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC lifted its holdings in shares of Tyler Technologies by 4.8% during the 3rd quarter. Parallel Advisors LLC now owns 674 shares of the technology company’s stock valued at $215,000 after purchasing an additional 31 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Tyler Technologies by 5.9% in the 2nd quarter. IFP Advisors Inc now owns 573 shares of the technology company’s stock worth $168,000 after purchasing an additional 32 shares in the last quarter. Empirical Finance LLC boosted its position in shares of Tyler Technologies by 4.0% in the 2nd quarter. Empirical Finance LLC now owns 1,416 shares of the technology company’s stock worth $414,000 after purchasing an additional 55 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its stake in Tyler Technologies by 75.0% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 147 shares of the technology company’s stock worth $50,000 after buying an additional 63 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in Tyler Technologies by 36.6% during the 2nd quarter. NewEdge Advisors LLC now owns 235 shares of the technology company’s stock worth $69,000 after buying an additional 63 shares during the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Price Performance

NYSE TYL opened at $425.20 on Friday. The company has a market cap of $16.91 billion, a PE ratio of 53.55, a P/E/G ratio of 2.78 and a beta of 0.74. The firm’s 50 day moving average price is $360.67 and its 200-day moving average price is $336.65. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.33 and a current ratio of 1.33. Tyler Technologies has a 52-week low of $270.71 and a 52-week high of $481.57.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 28th. The technology company reported $3.52 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.04. Tyler Technologies had a net margin of 13.51% and a return on equity of 12.21%. The company had revenue of $647.57 million during the quarter, compared to the consensus estimate of $651.38 million. During the same quarter in the previous year, the firm posted $2.91 earnings per share. Tyler Technologies’s revenue for the quarter was up 8.7% compared to the same quarter last year. Sell-side analysts forecast that Tyler Technologies will post 10.11 EPS for the current fiscal year.

About Tyler Technologies

Tyler Technologies provides software and technology services primarily to public-sector organizations. Its customers include state and local governments, courts, public safety agencies, schools, and other public entities. The company’s offerings include software for financial management, tax and property appraisal, courts and justice, public safety, education, utility billing, and permitting. Tyler also provides digital services such as online payments and tools for public access to government information.