Tyler Technologies (NYSE:TYL) Price Target Increased to $500.00 by Analysts at Oppenheimer

Tyler Technologies (NYSE:TYL) had its target price hoisted by research analysts at Oppenheimer from $480.00 to $500.00 in a report released on Friday, MarketBeat Ratings reports. The firm currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price objective would indicate a potential upside of 8.52% from the stock’s previous close.

TYL has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their target price on shares of Tyler Technologies from $500.00 to $526.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. JMP Securities reiterated a “market outperform” rating and set a $490.00 target price on shares of Tyler Technologies in a research note on Friday, February 16th. Piper Sandler reiterated an “overweight” rating and set a $520.00 target price on shares of Tyler Technologies in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $500.00 target price on shares of Tyler Technologies in a research note on Thursday. Finally, DA Davidson upped their price objective on shares of Tyler Technologies from $412.00 to $434.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $465.85.

Tyler Technologies Stock Up 0.6 %

Tyler Technologies stock opened at $460.74 on Friday. Tyler Technologies has a twelve month low of $361.16 and a twelve month high of $465.78. The stock’s fifty day simple moving average is $423.02 and its 200-day simple moving average is $415.30. The company has a current ratio of 0.94, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $19.56 billion, a P/E ratio of 104.24, a P/E/G ratio of 4.51 and a beta of 0.81.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. The business had revenue of $480.94 million for the quarter, compared to analyst estimates of $483.34 million. As a group, equities analysts expect that Tyler Technologies will post 6.77 earnings per share for the current fiscal year.

Insider Transactions at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 7,500 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $435.19, for a total transaction of $3,263,925.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at $32,639,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Glenn A. Carter sold 1,650 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $437.84, for a total transaction of $722,436.00. Following the completion of the transaction, the director now directly owns 2,011 shares of the company’s stock, valued at $880,496.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO H Lynn Moore, Jr. sold 7,500 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $435.19, for a total transaction of $3,263,925.00. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $32,639,250. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,608 shares of company stock worth $21,974,819. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TYL. CWM LLC raised its holdings in Tyler Technologies by 18.0% during the third quarter. CWM LLC now owns 517 shares of the technology company’s stock worth $200,000 after purchasing an additional 79 shares in the last quarter. SG Americas Securities LLC raised its holdings in Tyler Technologies by 3.3% during the third quarter. SG Americas Securities LLC now owns 3,553 shares of the technology company’s stock worth $1,372,000 after purchasing an additional 114 shares in the last quarter. Czech National Bank raised its holdings in Tyler Technologies by 48.2% during the third quarter. Czech National Bank now owns 7,354 shares of the technology company’s stock worth $2,840,000 after purchasing an additional 2,391 shares in the last quarter. MCF Advisors LLC purchased a new position in Tyler Technologies during the third quarter worth about $1,737,000. Finally, Cavalier Investments LLC raised its holdings in Tyler Technologies by 2.7% during the third quarter. Cavalier Investments LLC now owns 1,352 shares of the technology company’s stock worth $522,000 after purchasing an additional 35 shares in the last quarter. 93.30% of the stock is owned by hedge funds and other 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.