Evercore ISI Lowers Tyler Technologies (NYSE:TYL) Price Target to $575.00

Tyler Technologies (NYSE:TYL) had its target price lowered by stock analysts at Evercore ISI from $595.00 to $575.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “in-line” rating on the technology company’s stock. Evercore ISI’s price objective suggests a potential upside of 20.55% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tyler Technologies in a report on Tuesday, October 14th. UBS Group restated an “overweight” rating on shares of Tyler Technologies in a report on Wednesday, October 8th. Barclays increased their price objective on shares of Tyler Technologies from $695.00 to $715.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Oppenheimer restated an “outperform” rating and issued a $600.00 target price on shares of Tyler Technologies in a research note on Thursday. Finally, DA Davidson reduced their target price on Tyler Technologies from $585.00 to $560.00 and set a “neutral” rating for the company in a report on Friday, October 10th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $660.09.

Tyler Technologies Stock Performance

Shares of TYL opened at $476.98 on Friday. The firm has a market capitalization of $20.63 billion, a P/E ratio of 66.34, a P/E/G ratio of 3.67 and a beta of 0.89. Tyler Technologies has a 52 week low of $450.00 and a 52 week high of $661.31. The stock has a 50 day moving average price of $525.11 and a two-hundred day moving average price of $554.55.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.13. The company had revenue of $584.01 million for the quarter, compared to analysts’ expectations of $587.59 million. Tyler Technologies had a return on equity of 10.64% and a net margin of 13.72%.Tyler Technologies’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.40 earnings per share. On average, equities analysts forecast that Tyler Technologies will post 8.52 earnings per share for the current year.

Insider Buying and Selling

In related news, insider John S. Marr, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $560.65, for a total value of $2,242,600.00. Following the transaction, the insider owned 6,983 shares in the company, valued at approximately $3,915,018.95. This represents a 36.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $588.89, for a total value of $3,091,672.50. Following the transaction, the chief executive officer directly owned 81,775 shares of the company’s stock, valued at approximately $48,156,479.75. This trade represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 14,250 shares of company stock valued at $8,099,000. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Mather Group LLC. lifted its position in shares of Tyler Technologies by 14.3% during the first quarter. Mather Group LLC. now owns 360 shares of the technology company’s stock worth $209,000 after acquiring an additional 45 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Tyler Technologies by 15.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,048 shares of the technology company’s stock valued at $3,516,000 after purchasing an additional 817 shares in the last quarter. DAVENPORT & Co LLC raised its stake in shares of Tyler Technologies by 86.6% during the 1st quarter. DAVENPORT & Co LLC now owns 1,146 shares of the technology company’s stock valued at $666,000 after purchasing an additional 532 shares during the period. Rossby Financial LCC purchased a new stake in Tyler Technologies during the 1st quarter worth about $67,000. Finally, Private Trust Co. NA lifted its holdings in Tyler Technologies by 68.2% during the 1st quarter. Private Trust Co. NA now owns 143 shares of the technology company’s stock worth $83,000 after purchasing an additional 58 shares in the last quarter. 93.30% of the stock is currently 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.