Piper Sandler Cuts Tyler Technologies (NYSE:TYL) Price Target to $450.00

Key Points

• Piper Sandler lowered Tyler Technologies’ price target to $450 from $491 while maintaining an “overweight” rating, implying roughly 38% upside from the previous close.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $454.44; the stock opened at $326.14 and has a 52-week range of $270.71 to $531.94.
• Tyler Technologies slightly exceeded quarterly EPS expectations and reported 8.2% year-over-year revenue growth, while CEO and COO stock sales contrasted with significant institutional ownership of 93.3%.

Tyler Technologies (NYSE:TYL - Get Free Report) had its target price cut by investment analysts at Piper Sandler from $491.00 to $450.00 in a report issued on Monday, Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. Piper Sandler's price target points to a potential upside of 37.98% from the company's previous close.

TYL has been the topic of several other reports. Zacks Research cut Tyler Technologies from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 2nd. DA Davidson reaffirmed a "buy" rating and issued a $460.00 price objective on shares of Tyler Technologies in a report on Wednesday, June 10th. Barclays upped their price objective on Tyler Technologies from $420.00 to $425.00 and gave the company an "overweight" rating in a research report on Wednesday, June 10th. BTIG Research reissued a "buy" rating and issued a $400.00 target price on shares of Tyler Technologies in a report on Thursday. Finally, JPMorgan Chase & Co. dropped their target price on Tyler Technologies from $650.00 to $525.00 and set an "overweight" rating on the stock in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $454.44.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $326.14 on Monday. The firm's 50-day moving average price is $335.10 and its 200-day moving average price is $325.48. Tyler Technologies has a 52-week low of $270.71 and a 52-week high of $531.94. The company has a market cap of $13.36 billion, a PE ratio of 43.26, a PEG ratio of 2.14 and a beta of 0.84. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.46.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $3.05 by $0.03. Tyler Technologies had a net margin of 13.36% and a return on equity of 11.15%. The firm had revenue of $645.10 million during the quarter, compared to analysts' expectations of $647.95 million. During the same period in the previous year, the company earned $2.91 earnings per share. The firm's quarterly revenue was up 8.2% on a year-over-year basis. Tyler Technologies has set its FY 2026 guidance at 12.950-13.200 EPS. As a group, analysts anticipate that Tyler Technologies will post 10.13 EPS for the current year.

Insiders Place Their Bets

In other news, CEO H. Moore, Jr. sold 9,250 shares of the company's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $372.79, for a total value of $3,448,307.50. Following the completion of the sale, the chief executive officer directly owned 100,392 shares in the company, valued at $37,425,133.68. This represents a 8.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jeffrey Puckett sold 8,500 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $356.44, for a total value of $3,029,740.00. Following the completion of the transaction, the chief operating officer directly owned 7,784 shares in the company, valued at approximately $2,774,528.96. This represents a 52.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Tyler Technologies during the 2nd quarter valued at approximately $1,129,890,000. T. Rowe Price Investment Management Inc. raised its stake in Tyler Technologies by 2.4% during 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 acquiring an additional 44,785 shares during the period. Principal Financial Group Inc. lifted its holdings in Tyler Technologies by 20.1% during the first quarter. Principal Financial Group Inc. now owns 1,745,625 shares of the technology company's stock valued at $597,681,000 after purchasing an additional 291,564 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Tyler Technologies by 43.2% during the fourth quarter. Van ECK Associates Corp now owns 1,217,306 shares of the technology company's stock valued at $552,596,000 after purchasing an additional 367,203 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Tyler Technologies by 7.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 378,937 shares of the technology company's stock worth $172,018,000 after purchasing an additional 25,859 shares during the period. Institutional investors own 93.30% of the company's stock.

About Tyler Technologies

Tyler Technologies, Inc provides integrated software and technology services to the public sector. Its customers include local governments, state agencies, courts, schools and other public-sector organizations that use Tyler's solutions to manage administrative, operational and citizen-facing functions.

The company's product portfolio includes enterprise resource planning and financial management software, property tax and assessment systems, court and justice applications, public safety and emergency communications solutions, planning and regulatory systems, school administration software, and platforms for digital government services and electronic payments.

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