Tyler Technologies (NYSE:TYL) Stock Rating Reaffirmed by Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Tyler Technologies (NYSE:TYL) in a research note released on Wednesday, Benzinga reports. They currently have a $520.00 price objective on the technology company’s stock.

Several other brokerages also recently issued reports on TYL. DA Davidson upped their price target on Tyler Technologies from $412.00 to $434.00 and gave the stock a neutral rating in a report on Thursday, February 22nd. Needham & Company LLC upped their target price on shares of Tyler Technologies from $475.00 to $500.00 and gave the stock a buy rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. raised their price target on shares of Tyler Technologies from $500.00 to $526.00 and gave the company an overweight rating in a research report on Thursday, February 15th. Finally, JMP Securities reaffirmed a market outperform rating and issued a $490.00 price objective on shares of Tyler Technologies in a research report on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $460.46.

Tyler Technologies Stock Up 0.1 %

Tyler Technologies stock opened at $419.00 on Wednesday. The firm has a market capitalization of $17.78 billion, a price-to-earnings ratio of 107.71, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. The firm’s fifty day moving average price is $422.70 and its two-hundred day moving average price is $414.49. Tyler Technologies has a 1-year low of $361.16 and a 1-year high of $454.74. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.06. The business had revenue of $480.94 million for the quarter, compared to analysts’ expectations of $483.34 million. Tyler Technologies had a net margin of 8.50% and a return on equity of 8.85%. On average, equities research analysts predict that Tyler Technologies will post 6.77 earnings per share for the current fiscal year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $435.19, for a total value of $3,263,925.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $32,639,250. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $437.49, for a total value of $2,843,685.00. Following the completion of the transaction, the insider now directly owns 6,400 shares in the company, valued at approximately $2,799,936. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $435.19, for a total value of $3,263,925.00. Following the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $32,639,250. The disclosure for this sale can be found here. Insiders have sold 50,608 shares of company stock valued at $21,974,819 over the last three months. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TYL. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Tyler Technologies by 96.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,604 shares of the technology company’s stock valued at $4,932,000 after purchasing an additional 5,690 shares in the last quarter. V Square Quantitative Management LLC boosted its position in Tyler Technologies by 30.7% during the first quarter. V Square Quantitative Management LLC now owns 737 shares of the technology company’s stock valued at $313,000 after buying an additional 173 shares during the period. Simplicity Wealth LLC bought a new position in shares of Tyler Technologies during the first quarter valued at about $877,000. Summit Trail Advisors LLC increased its holdings in shares of Tyler Technologies by 11.0% in the first quarter. Summit Trail Advisors LLC now owns 2,745 shares of the technology company’s stock worth $1,167,000 after buying an additional 271 shares during the period. Finally, Duncker Streett & Co. Inc. lifted its stake in shares of Tyler Technologies by 50.8% in the 1st quarter. Duncker Streett & Co. Inc. now owns 2,696 shares of the technology company’s stock valued at $1,146,000 after acquiring an additional 908 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors.

Tyler Technologies Company Profile

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.