Tyler Technologies (NYSE:TYL) Price Target Raised to $385.00

Tyler Technologies (NYSE:TYL) had its price objective raised by The Goldman Sachs Group from $345.00 to $385.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other analysts have also recently commented on the stock. Piper Sandler began coverage on shares of Tyler Technologies in a research note on Monday, September 28th. They set an “overweight” rating and a $450.00 price target on the stock. DA Davidson restated a “buy” rating and issued a $460.00 price objective on shares of Tyler Technologies in a research report on Tuesday, October 27th. Guggenheim began coverage on Tyler Technologies in a report on Wednesday, July 22nd. They set a “buy” rating and a $440.00 price objective on the stock. Wells Fargo & Company increased their price objective on Tyler Technologies from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Finally, Needham & Company LLC lifted their target price on Tyler Technologies from $400.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $440.88.

Tyler Technologies Stock Performance

Shares of NYSE:TYL opened at $430.90 on Tuesday. The business has a fifty day moving average of $356.96 and a 200-day moving average of $336.91. 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 twelve month low of $270.71 and a twelve month high of $481.57. The firm has a market cap of $17.13 billion, a PE ratio of 44.74, a price-to-earnings-growth ratio of 2.79 and a beta of 0.74.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 28th. The technology company reported $3.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.48 by $0.04. Tyler Technologies had a net margin of 13.51% and a return on equity of 12.21%. The business had revenue of $647.57 million for the quarter, compared to the consensus estimate of $651.38 million. During the same quarter in the prior year, the company earned $2.91 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts predict that Tyler Technologies will post 10.11 EPS for the current fiscal year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $393.17, for a total value 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 approximately $39,471,122.64. This represents a 9.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey Puckett sold 8,500 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $356.44, for a total transaction of $3,029,740.00. Following the completion of the sale, the chief operating officer owned 7,784 shares in the company, valued at approximately $2,774,528.96. This trade represents a 52.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,430 shares of company stock worth $10,686,888 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Tyler Technologies

Large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Tyler Technologies during the second quarter valued at about $1,129,890,000. Principal Financial Group Inc. boosted its holdings in Tyler Technologies by 20.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,745,625 shares of the technology company’s stock valued at $597,681,000 after purchasing an additional 291,564 shares during the period. Bank of America Corp DE raised its position in shares of Tyler Technologies by 10.5% in the first quarter. Bank of America Corp DE now owns 405,095 shares of the technology company’s stock worth $138,696,000 after buying an additional 38,508 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tyler Technologies by 13.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 400,775 shares of the technology company’s stock worth $117,211,000 after buying an additional 48,832 shares in the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Tyler Technologies in the second quarter worth $88,645,000. Institutional investors own 93.30% of the company’s stock.

About Tyler Technologies

Tyler Technologies, Inc provides integrated software and technology services to public-sector organizations. Its customers include municipalities, counties, states, courts, school districts, public safety agencies, and other government entities. The company’s solutions are designed to help public organizations manage operations, improve service delivery, and engage with residents and constituents.

Tyler’s product portfolio includes enterprise resource planning and financial management software, property tax and appraisal systems, court and justice solutions, public safety and emergency communications platforms, permitting and licensing tools, and software for schools and elections.