Tyler Technologies (NYSE:TYL) Price Target Increased to $630.00 by Analysts at BTIG Research

Tyler Technologies (NYSE:TYL) had its price target upped by BTIG Research from $550.00 to $630.00 in a research note released on Friday, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the company. Piper Sandler lifted their price target on Tyler Technologies from $529.00 to $625.00 and gave the company an overweight rating in a research report on Friday. Wells Fargo & Company upped their price target on Tyler Technologies from $580.00 to $600.00 and gave the company an overweight rating in a research report on Friday. Barclays raised their price objective on shares of Tyler Technologies from $515.00 to $577.00 and gave the company an equal weight rating in a research report on Friday. Loop Capital upped their target price on shares of Tyler Technologies from $485.00 to $530.00 and gave the stock a buy rating in a report on Tuesday, May 21st. Finally, Oppenheimer raised their price target on shares of Tyler Technologies from $550.00 to $625.00 and gave the company an outperform rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Tyler Technologies has an average rating of Moderate Buy and a consensus target price of $582.31.

Tyler Technologies Price Performance

NYSE TYL opened at $576.99 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. The company has a market cap of $24.50 billion, a PE ratio of 130.54, a price-to-earnings-growth ratio of 6.06 and a beta of 0.76. Tyler Technologies has a 52 week low of $361.16 and a 52 week high of $593.50. The firm’s 50-day simple moving average is $501.04 and its two-hundred day simple moving average is $458.42.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.06. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The company had revenue of $540.98 million for the quarter, compared to analysts’ expectations of $541.01 million. During the same period in the prior year, the company posted $1.53 EPS. Tyler Technologies’s revenue was up 7.3% compared to the same quarter last year. Research analysts predict that Tyler Technologies will post 6.5 earnings per share for the current year.

Insider Activity at Tyler Technologies

In other news, Director Daniel M. Pope sold 520 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total value of $255,413.60. Following the completion of the transaction, the director now directly owns 3,493 shares in the company, valued at approximately $1,715,691.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $483.21, for a total transaction of $2,899,260.00. Following the transaction, the insider now owns 6,983 shares of the company’s stock, valued at approximately $3,374,255.43. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel M. Pope sold 520 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total transaction of $255,413.60. Following the completion of the sale, the director now directly owns 3,493 shares of the company’s stock, valued at $1,715,691.74. The disclosure for this sale can be found here. Insiders have sold a total of 21,241 shares of company stock valued at $10,201,740 over the last 90 days. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Tyler Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 5,022,053 shares of the technology company’s stock worth $2,134,423,000 after acquiring an additional 53,005 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Tyler Technologies by 3.3% during the first quarter. Principal Financial Group Inc. now owns 1,309,715 shares of the technology company’s stock valued at $556,642,000 after purchasing an additional 41,485 shares during the period. Norges Bank bought a new position in shares of Tyler Technologies in the fourth quarter worth approximately $459,691,000. Franklin Resources Inc. grew its holdings in shares of Tyler Technologies by 6.7% in the fourth quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock worth $434,987,000 after purchasing an additional 64,889 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Tyler Technologies by 6.3% in the first quarter. Van ECK Associates Corp now owns 922,942 shares of the technology company’s stock worth $392,259,000 after buying an additional 54,926 shares during the period. Hedge funds and other institutional investors own 93.30% of the company’s stock.

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.