Tyler Technologies (NYSE:TYL) Given New $470.00 Price Target at BTIG Research

Tyler Technologies (NYSE:TYL) had its price target lowered by BTIG Research from $560.00 to $470.00 in a report issued on Monday, Marketbeat Ratings reports. BTIG Research currently has a buy rating on the technology company’s stock.

TYL has been the subject of a number of other research reports. TD Cowen reaffirmed a “buy” rating on shares of Tyler Technologies in a research report on Wednesday, February 4th. Wells Fargo & Company reduced their price target on Tyler Technologies from $470.00 to $420.00 and set an “equal weight” rating for the company in a report on Wednesday, February 4th. The Goldman Sachs Group began coverage on shares of Tyler Technologies in a research note on Tuesday, January 13th. They issued a “buy” rating and a $560.00 price target on the stock. Robert W. Baird set a $660.00 price objective on shares of Tyler Technologies in a research report on Friday, October 31st. Finally, Stifel Nicolaus initiated coverage on shares of Tyler Technologies in a report on Wednesday, January 7th. They issued a “buy” rating and a $550.00 target price for the company. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $601.14.

Tyler Technologies Stock Performance

Shares of TYL opened at $355.24 on Monday. The stock has a market cap of $15.29 billion, a PE ratio of 49.41, a price-to-earnings-growth ratio of 2.35 and a beta of 0.91. Tyler Technologies has a fifty-two week low of $320.23 and a fifty-two week high of $661.31. The firm’s 50-day simple moving average is $434.57 and its two-hundred day simple moving average is $492.10.

Insider Buying and Selling

In other news, CFO Brian K. Miller sold 1,000 shares of Tyler Technologies stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $448.51, for a total value of $448,510.00. Following the completion of the sale, the chief financial officer directly owned 17,148 shares in the company, valued at $7,691,049.48. The trade was a 5.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Glenn A. Carter sold 500 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $458.73, for a total transaction of $229,365.00. Following the transaction, the director owned 3,172 shares in the company, valued at approximately $1,455,091.56. This trade represents a 13.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,500 shares of company stock valued at $1,605,605 over the last quarter. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

A number of institutional investors and hedge funds have recently modified their holdings of TYL. DLD Asset Management LP purchased a new stake in Tyler Technologies during the second quarter valued at $5,780,190,000. Vanguard Group Inc. boosted its position in Tyler Technologies by 4.2% in the third quarter. Vanguard Group Inc. now owns 5,805,036 shares of the technology company’s stock worth $3,036,963,000 after purchasing an additional 234,916 shares during the last quarter. State Street Corp grew its stake in shares of Tyler Technologies by 1.8% during the 3rd quarter. State Street Corp now owns 1,947,850 shares of the technology company’s stock valued at $1,019,037,000 after purchasing an additional 34,178 shares during the period. Principal Financial Group Inc. increased its position in shares of Tyler Technologies by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 1,454,061 shares of the technology company’s stock valued at $660,089,000 after purchasing an additional 43,421 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Tyler Technologies by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 1,228,686 shares of the technology company’s stock worth $556,725,000 after purchasing an additional 13,608 shares during the period. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Company Profile

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.