Tyler Technologies, Inc. (NYSE:TYL) Receives $467.54 Consensus PT from Brokerages

Shares of Tyler Technologies, Inc. (NYSE:TYL) have received an average recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $467.5385.

A number of equities research analysts have weighed in on TYL shares. TD Cowen lowered their price objective on Tyler Technologies from $600.00 to $500.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Needham & Company LLC reiterated a “buy” rating and set a $750.00 target price on shares of Tyler Technologies in a research note on Tuesday, February 3rd. Wells Fargo & Company decreased their price target on shares of Tyler Technologies from $420.00 to $335.00 and set an “equal weight” rating for the company in a research report on Friday, February 13th. Piper Sandler restated an “overweight” rating and issued a $543.00 price target (down from $671.00) on shares of Tyler Technologies in a research note on Friday, February 13th. Finally, Stifel Nicolaus cut their price target on shares of Tyler Technologies from $550.00 to $400.00 and set a “buy” rating on the stock in a report on Friday, February 13th.

Tyler Technologies Price Performance

NYSE:TYL opened at $333.92 on Friday. The firm has a 50-day moving average of $357.57 and a two-hundred day moving average of $437.46. The stock has a market cap of $14.18 billion, a P/E ratio of 46.38, a PEG ratio of 2.24 and a beta of 0.90. Tyler Technologies has a 1-year low of $283.71 and a 1-year high of $621.34.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.07). Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.The business had revenue of $575.18 million for the quarter, compared to analysts’ expectations of $591.09 million. During the same period in the previous year, the firm posted $2.43 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, equities analysts expect that Tyler Technologies will post 8.52 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Andrew D. Teed purchased 1,600 shares of Tyler Technologies stock in a transaction dated Monday, February 23rd. The shares were acquired at an average price of $309.91 per share, with a total value of $495,856.00. Following the completion of the transaction, the director owned 5,118 shares of the company’s stock, valued at approximately $1,586,119.38. This trade represents a 45.48% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel M. Pope sold 500 shares of Tyler Technologies stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $355.40, for a total value of $177,700.00. Following the completion of the transaction, the director owned 2,871 shares of the company’s stock, valued at $1,020,353.40. This trade represents a 14.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 7,298 shares of company stock worth $2,658,721. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new stake in shares of Tyler Technologies in the 1st quarter valued at approximately $38,000. NewEdge Advisors LLC lifted its stake in Tyler Technologies by 17.8% during the first quarter. NewEdge Advisors LLC now owns 251 shares of the technology company’s stock worth $146,000 after purchasing an additional 38 shares during the last quarter. Woodline Partners LP acquired a new position in Tyler Technologies in the first quarter worth $2,102,000. Geneos Wealth Management Inc. boosted its holdings in Tyler Technologies by 137.9% in the first quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock worth $40,000 after purchasing an additional 40 shares during the period. Finally, American Century Companies Inc. increased its stake in Tyler Technologies by 12.5% during the second quarter. American Century Companies Inc. now owns 621 shares of the technology company’s stock valued at $368,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

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.