Tyler Technologies (NYSE:TYL) Given New $700.00 Price Target at Barclays

Tyler Technologies (NYSE:TYL) had its price target trimmed by Barclays from $715.00 to $700.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

A number of other analysts have also recently weighed in on TYL. Piper Sandler raised their target price on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Truist Financial reissued a “buy” rating and set a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. The Goldman Sachs Group boosted their target price on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Finally, DA Davidson reissued a “neutral” rating and issued a $575.00 price target on shares of Tyler Technologies in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $675.00.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $572.36 on Monday. The stock has a market cap of $24.67 billion, a price-to-earnings ratio of 94.45, a PEG ratio of 4.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. Tyler Technologies has a 12 month low of $397.80 and a 12 month high of $661.31. The stock’s 50 day moving average price is $589.22 and its 200 day moving average price is $595.57.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. Equities research analysts anticipate that Tyler Technologies will post 8.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the sale, the chief executive officer now directly owns 75,734 shares of the company’s stock, valued at $46,772,561.06. This trade represents a 7.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,322,477. This represents a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,064 shares of company stock worth $8,688,030. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tyler Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TYL. XTX Topco Ltd bought a new position in shares of Tyler Technologies during the 3rd quarter valued at $410,000. Barclays PLC increased its position in Tyler Technologies by 2.5% during the third quarter. Barclays PLC now owns 88,296 shares of the technology company’s stock worth $51,543,000 after buying an additional 2,169 shares during the last quarter. Virtu Financial LLC bought a new position in Tyler Technologies during the third quarter valued at about $1,825,000. Wilmington Savings Fund Society FSB bought a new position in Tyler Technologies during the third quarter valued at about $651,000. Finally, Tidal Investments LLC lifted its position in shares of Tyler Technologies by 11.2% in the third quarter. Tidal Investments LLC now owns 2,412 shares of the technology company’s stock worth $1,408,000 after buying an additional 243 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

About Tyler Technologies

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.