BTIG Research Issues Pessimistic Forecast for Tyler Technologies (NYSE:TYL) Stock Price

Tyler Technologies (NYSE:TYL) had its target price dropped by analysts at BTIG Research from $470.00 to $420.00 in a research note issued to investors on Friday, MarketBeat reports. The firm currently has a “buy” rating on the technology company’s stock. BTIG Research’s target price would suggest a potential upside of 32.27% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, February 3rd. Barclays reduced their price target on Tyler Technologies from $715.00 to $410.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Weiss Ratings restated a “hold (c)” rating on shares of Tyler Technologies in a report on Friday, January 9th. Oppenheimer reduced their price target on Tyler Technologies from $510.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, February 13th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $325.00 price target on shares of Tyler Technologies in a report on Friday, February 13th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $463.69.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $317.54 on Friday. Tyler Technologies has a 1 year low of $283.71 and a 1 year high of $621.34. The company has a market cap of $13.48 billion, a PE ratio of 44.10, a P/E/G ratio of 2.13 and a beta of 0.92. The stock’s 50-day moving average is $340.00 and its 200 day moving average is $423.86.

Tyler Technologies (NYSE:TYL) last announced its quarterly 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 net margin of 13.53% and a return on equity of 10.42%. The business had revenue of $575.18 million for the quarter, compared to analysts’ expectations of $591.09 million. During the same quarter in the prior year, the firm earned $2.43 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts expect that Tyler Technologies will post 8.52 EPS for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, Director Daniel M. Pope sold 500 shares of Tyler Technologies stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $355.40, for a total transaction of $177,700.00. Following the sale, the director directly owned 2,871 shares of the company’s stock, valued at approximately $1,020,353.40. The trade was a 14.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey David Puckett sold 5,174 shares of Tyler Technologies stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $369.93, for a total value of $1,914,017.82. Following the sale, the chief operating officer directly owned 7,754 shares in the company, valued at approximately $2,868,437.22. The trade was a 40.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 7,298 shares of company stock worth $2,658,721. Insiders own 1.10% of the company’s stock.

Institutional Trading of Tyler Technologies

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Tyler Technologies by 4.2% in the 3rd 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 in the last quarter. Norges Bank bought a new stake in shares of Tyler Technologies in the 4th quarter worth approximately $921,035,000. State Street Corp boosted its position in shares of Tyler Technologies by 1.8% in the 3rd quarter. State Street Corp now owns 1,947,850 shares of the technology company’s stock worth $1,019,037,000 after purchasing an additional 34,178 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Tyler Technologies by 2.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,888,475 shares of the technology company’s stock worth $857,274,000 after purchasing an additional 44,785 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Tyler Technologies by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 1,454,061 shares of the technology company’s stock worth $660,089,000 after purchasing an additional 43,421 shares in the last quarter. 93.30% of the stock is owned by 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.