Tyler Technologies, Inc. (NYSE:TYL) Receives $688.27 Consensus Target Price from Analysts

Tyler Technologies, Inc. (NYSE:TYL) has earned a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $688.2727.

Several analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $750.00 price target on shares of Tyler Technologies in a research report on Tuesday, May 13th. Barclays raised their target price on Tyler Technologies from $695.00 to $715.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. DA Davidson set a $585.00 price target on Tyler Technologies and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Wall Street Zen cut Tyler Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Finally, Wells Fargo & Company reduced their price objective on shares of Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd.

Insider Transactions at Tyler Technologies

In related news, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of Tyler Technologies stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $573.60, for a total value of $215,100.00. Following the completion of the transaction, the insider owned 247 shares in the company, valued at approximately $141,679.20. The trade was a 60.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John S. Marr, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $568.66, for a total transaction of $2,274,640.00. Following the sale, the insider directly owned 6,983 shares in the company, valued at approximately $3,970,952.78. The trade was a 36.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,102 shares of company stock valued at $16,303,524. 1.10% of the stock is owned by 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. Retirement Wealth Solutions LLC purchased a new position in Tyler Technologies in the first quarter valued at $26,000. Mowery & Schoenfeld Wealth Management LLC raised its position in Tyler Technologies by 820.0% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company’s stock valued at $27,000 after purchasing an additional 41 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in Tyler Technologies in the 2nd quarter valued at about $30,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Tyler Technologies in the 2nd quarter valued at about $32,000. Finally, Cornerstone Planning Group LLC grew its position in shares of Tyler Technologies by 221.1% during the first quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company’s stock worth $35,000 after buying an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Down 0.1%

NYSE TYL opened at $572.73 on Thursday. The business’s fifty day simple moving average is $577.04 and its 200-day simple moving average is $578.34. The firm has a market cap of $24.78 billion, a PE ratio of 81.82, a P/E/G ratio of 4.39 and a beta of 0.85. Tyler Technologies has a 52 week low of $513.52 and a 52 week high of $661.31.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.13. The company had revenue of $584.01 million for the quarter, compared to the consensus estimate of $587.59 million. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. Tyler Technologies’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.40 earnings per share. Research analysts expect that Tyler Technologies will post 8.52 EPS for the current year.

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.