Tyler Technologies (NYSE:TYL) Given New $440.00 Price Target at DA Davidson

Tyler Technologies (NYSE:TYLGet Rating) had its price objective decreased by DA Davidson from $475.00 to $440.00 in a research report issued on Monday, The Fly reports. DA Davidson’s price target points to a potential upside of 14.17% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Barclays initiated coverage on shares of Tyler Technologies in a report on Monday, March 14th. They issued an “equal weight” rating and a $445.00 target price on the stock. StockNews.com initiated coverage on shares of Tyler Technologies in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Truist Financial initiated coverage on shares of Tyler Technologies in a research note on Wednesday, February 9th. They issued a “buy” rating and a $550.00 price objective for the company. Piper Sandler reduced their price objective on shares of Tyler Technologies from $600.00 to $540.00 and set an “overweight” rating for the company in a research note on Friday, February 18th. Finally, Loop Capital initiated coverage on shares of Tyler Technologies in a research note on Monday, April 18th. They issued a “buy” rating and a $520.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $521.42.

Shares of NYSE:TYL opened at $385.40 on Monday. The company has a market cap of $15.97 billion, a price-to-earnings ratio of 100.89 and a beta of 0.78. The firm’s 50-day simple moving average is $422.78 and its 200-day simple moving average is $476.97. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.56. Tyler Technologies has a fifty-two week low of $384.38 and a fifty-two week high of $557.55.

Tyler Technologies (NYSE:TYLGet Rating) last issued its earnings results on Wednesday, February 16th. The technology company reported $1.26 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.26. The business had revenue of $433.54 million for the quarter, compared to the consensus estimate of $433.74 million. Tyler Technologies had a net margin of 10.14% and a return on equity of 10.30%. The business’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 earnings per share. On average, research analysts forecast that Tyler Technologies will post 5.67 EPS for the current year.

In other Tyler Technologies news, Director Daniel M. Pope sold 696 shares of Tyler Technologies stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of $402.06, for a total transaction of $279,833.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.70% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. raised its position in Tyler Technologies by 136.9% during the first quarter. Assenagon Asset Management S.A. now owns 18,998 shares of the technology company’s stock worth $8,452,000 after acquiring an additional 10,979 shares during the last quarter. Truist Financial Corp raised its position in shares of Tyler Technologies by 1.3% in the first quarter. Truist Financial Corp now owns 2,394 shares of the technology company’s stock valued at $1,065,000 after buying an additional 31 shares during the last quarter. Allworth Financial LP acquired a new position in shares of Tyler Technologies in the first quarter valued at approximately $149,000. Exane Derivatives acquired a new position in shares of Tyler Technologies in the first quarter valued at approximately $201,000. Finally, Oak Ridge Investments LLC raised its position in shares of Tyler Technologies by 42.4% in the first quarter. Oak Ridge Investments LLC now owns 3,384 shares of the technology company’s stock valued at $1,506,000 after buying an additional 1,008 shares during the last quarter. Institutional investors own 90.80% of the company’s stock.

About Tyler Technologies (Get Rating)

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.

Further Reading

The Fly logo

Analyst Recommendations for Tyler Technologies (NYSE:TYL)

Receive News & Ratings for Tyler Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyler Technologies and related companies with MarketBeat.com's FREE daily email newsletter.