Wells Fargo & Company Issues Pessimistic Forecast for Tyler Technologies (NYSE:TYL) Stock Price

Tyler Technologies (NYSE:TYL) had its target price reduced by research analysts at Wells Fargo & Company from $640.00 to $610.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 7.08% from the stock’s current price.

A number of other brokerages have also weighed in on TYL. DA Davidson reaffirmed a “neutral” rating and issued a $575.00 price target on shares of Tyler Technologies in a research note on Thursday, January 30th. Needham & Company LLC restated a “buy” rating and issued a $700.00 target price on shares of Tyler Technologies in a research report on Tuesday, January 21st. Barclays lowered their price target on Tyler Technologies from $715.00 to $700.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Truist Financial reissued a “buy” rating and issued a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Finally, StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $674.58.

Tyler Technologies Stock Up 1.0 %

TYL opened at $569.67 on Tuesday. The stock’s 50 day moving average price is $581.91 and its 200 day moving average price is $594.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The stock has a market cap of $24.56 billion, a P/E ratio of 94.01, a P/E/G ratio of 4.93 and a beta of 0.84. Tyler Technologies has a 12 month low of $415.24 and a 12 month high of $661.31.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The company had revenue of $562.43 million for the quarter, compared to analyst estimates of $556.45 million. During the same period last year, the company earned $2.20 earnings per share. As a group, research analysts predict that Tyler Technologies will post 8.52 earnings per share for the current year.

Insider Buying and Selling

In other news, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,322,477. This trade represents a 46.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the transaction, the chief executive officer now owns 75,734 shares in the company, valued at $46,772,561.06. This represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,064 shares of company stock valued at $8,688,030. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tyler Technologies

A number of institutional investors have recently bought and sold shares of TYL. Larson Financial Group LLC lifted its position in shares of Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after purchasing an additional 31 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Tyler Technologies in the 1st quarter worth approximately $26,000. Sierra Ocean LLC purchased a new stake in Tyler Technologies in the 4th quarter worth approximately $32,000. Brown Brothers Harriman & Co. boosted its stake in shares of Tyler Technologies by 300.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after buying an additional 42 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Tyler Technologies during the 4th quarter valued at $40,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

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.