Tyler Technologies, Inc. (NYSE:TYL) Receives $676.25 Average Price Target from Analysts

Tyler Technologies, Inc. (NYSE:TYL) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $676.25.

Several equities analysts have commented on TYL shares. The Goldman Sachs Group raised their target price on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. DA Davidson reissued a “neutral” rating and issued a $575.00 target price on shares of Tyler Technologies in a report on Thursday, January 30th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 target price on shares of Tyler Technologies in a report on Tuesday, January 21st. Wells Fargo & Company reissued an “equal weight” rating and issued a $615.00 target price (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Finally, Truist Financial reissued a “buy” rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th.

Tyler Technologies Price Performance

NYSE:TYL opened at $578.40 on Monday. Tyler Technologies has a 52 week low of $397.80 and a 52 week high of $661.31. The firm has a market cap of $24.88 billion, a price-to-earnings ratio of 95.44, a P/E/G ratio of 4.93 and a beta of 0.80. The firm’s 50-day simple moving average is $598.88 and its 200 day simple moving average is $598.17. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. As a group, sell-side analysts predict that Tyler Technologies will post 8.52 earnings per share for the current year.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the sale, the chief executive officer now directly owns 75,734 shares in the company, valued at $46,772,561.06. This trade represents a 7.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the sale, the insider now owns 6,983 shares in the company, valued at approximately $4,322,477. This represents a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,064 shares of company stock worth $8,688,030. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Larson Financial Group LLC lifted its position in shares of Tyler Technologies by 221.4% in the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after purchasing an additional 31 shares during the period. Sierra Ocean LLC acquired a new position in shares of Tyler Technologies in the 4th quarter worth approximately $32,000. Brown Brothers Harriman & Co. lifted its position in shares of Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock worth $32,000 after purchasing an additional 42 shares during the period. Kapitalo Investimentos Ltda acquired a new position in shares of Tyler Technologies in the 4th quarter worth approximately $40,000. Finally, OFI Invest Asset Management acquired a new position in shares of Tyler Technologies in the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Company Profile

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.