Needham & Company LLC Increases Tyler Technologies (NYSE:TYL) Price Target to $600.00

Tyler Technologies (NYSE:TYL) had its price objective lifted by equities researchers at Needham & Company LLC from $500.00 to $600.00 in a report released on Tuesday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 20.60% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. JMP Securities reissued a “market outperform” rating and set a $490.00 target price on shares of Tyler Technologies in a report on Friday, April 26th. Robert W. Baird increased their target price on Tyler Technologies from $500.00 to $525.00 and gave the company an “outperform” rating in a report on Friday, April 26th. JPMorgan Chase & Co. increased their target price on Tyler Technologies from $500.00 to $526.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. DA Davidson increased their target price on Tyler Technologies from $412.00 to $434.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Finally, Piper Sandler reissued an “overweight” rating and set a $520.00 target price on shares of Tyler Technologies in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $514.55.

Tyler Technologies Stock Up 0.3 %

Shares of TYL opened at $497.50 on Tuesday. The company has a market capitalization of $21.12 billion, a price-to-earnings ratio of 112.56, a PEG ratio of 4.61 and a beta of 0.76. Tyler Technologies has a 52 week low of $361.16 and a 52 week high of $500.49. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. The stock’s 50-day moving average price is $440.41 and its 200-day moving average price is $428.21.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.26. The company had revenue of $512.36 million during the quarter, compared to analysts’ expectations of $507.79 million. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. On average, sell-side analysts predict that Tyler Technologies will post 7.14 EPS for the current year.

Insider Buying and Selling

In related news, CEO H Lynn Moore, Jr. sold 1,849 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $421.19, for a total value of $778,780.31. Following the completion of the transaction, the chief executive officer now directly owns 79,502 shares in the company, valued at $33,485,447.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $481.83, for a total value of $2,529,607.50. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $36,137,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO H Lynn Moore, Jr. sold 1,849 shares of Tyler Technologies stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $421.19, for a total value of $778,780.31. Following the completion of the sale, the chief executive officer now directly owns 79,502 shares of the company’s stock, valued at $33,485,447.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,549 shares of company stock worth $23,571,620. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TYL. Teacher Retirement System of Texas grew its stake in Tyler Technologies by 2.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 3,246 shares of the technology company’s stock worth $1,253,000 after purchasing an additional 79 shares in the last quarter. Wealthfront Advisers LLC lifted its holdings in Tyler Technologies by 10.2% during the 3rd quarter. Wealthfront Advisers LLC now owns 1,689 shares of the technology company’s stock worth $652,000 after buying an additional 157 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Tyler Technologies by 4.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,460 shares of the technology company’s stock worth $1,336,000 after buying an additional 138 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Tyler Technologies by 7.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,205 shares of the technology company’s stock worth $465,000 after buying an additional 85 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Tyler Technologies during the 3rd quarter worth about $275,000. 93.30% of the stock is owned by institutional investors and hedge funds.

About Tyler Technologies

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.