JMP Securities Raises Tyler Technologies (NYSE:TYL) Price Target to $700.00

Tyler Technologies (NYSE:TYL) had its target price boosted by JMP Securities from $580.00 to $700.00 in a report published on Friday, Benzinga reports. The firm currently has a market outperform rating on the technology company’s stock.

A number of other research analysts have also issued reports on TYL. Barclays raised Tyler Technologies from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $577.00 to $700.00 in a report on Monday, October 7th. BTIG Research upped their price objective on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Truist Financial restated a “buy” rating and issued a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday. Piper Sandler boosted their price target on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Needham & Company LLC raised their price objective on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $642.62.

Tyler Technologies Trading Down 0.9 %

Shares of Tyler Technologies stock opened at $605.86 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $25.72 billion, a P/E ratio of 137.07, a PEG ratio of 5.42 and a beta of 0.78. Tyler Technologies has a 1 year low of $361.16 and a 1 year high of $631.43. The company’s fifty day moving average is $584.88 and its two-hundred day moving average is $528.21.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The firm had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $1.66 earnings per share. Analysts forecast that Tyler Technologies will post 7.21 earnings per share for the current year.

Insider Buying and Selling at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total transaction of $2,954,900.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at $44,323,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Tyler Technologies news, Director Glenn A. Carter sold 3,350 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $582.57, for a total value of $1,951,609.50. Following the sale, the director now directly owns 2,654 shares of the company’s stock, valued at approximately $1,546,140.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total value of $2,954,900.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $44,323,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,100 shares of company stock worth $16,890,717. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Several hedge funds have recently modified their holdings of the stock. Independence Bank of Kentucky acquired a new position in Tyler Technologies during the second quarter worth approximately $25,000. Covestor Ltd grew its stake in shares of Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after buying an additional 43 shares during the period. Blue Trust Inc. grew its stake in shares of Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after buying an additional 56 shares during the period. Lynx Investment Advisory acquired a new stake in shares of Tyler Technologies during the 2nd quarter worth $38,000. Finally, Larson Financial Group LLC raised its position in shares of Tyler Technologies by 675.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the technology company’s stock worth $40,000 after buying an additional 81 shares during the period. 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.