Tyler Technologies, Inc. (NYSE:TYL) Stock Has Consensus Target Price of $440.88 According to Brokerages

Key Points

• Analyst sentiment is moderately bullish: Sixteen brokerages give Tyler Technologies a consensus “Moderate Buy” rating, with an average 12-month price target of $440.88.
• Latest results were mixed: Quarterly EPS of $3.52 beat estimates of $3.48, while revenue of $647.57 million fell short of forecasts; revenue nevertheless rose 8.7% year over year.
• Company insiders have been selling shares: Insiders sold 38,430 shares worth about $14.9 million over the last quarter, including sales by a director and the COO.

Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) has earned an average rating of "Moderate Buy" from the sixteen ratings firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $440.88.

Several brokerages have recently commented on TYL. The Goldman Sachs Group raised their price target on Tyler Technologies from $345.00 to $385.00 and gave the company a "neutral" rating in a research note on Tuesday. Piper Sandler initiated coverage on shares of Tyler Technologies in a research report on Monday, September 28th. They issued an "overweight" rating and a $450.00 price target on the stock. BTIG Research boosted their price objective on Tyler Technologies from $400.00 to $430.00 and gave the company a "buy" rating in a report on Friday, October 30th. Guggenheim initiated coverage on shares of Tyler Technologies in a research report on Wednesday, July 22nd. They issued a "buy" rating and a $440.00 price target for the company. Finally, Weiss Ratings upgraded shares of Tyler Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 22nd.

Tyler Technologies Trading Down 2.3%

Shares of TYL opened at $420.33 on Friday. Tyler Technologies has a 12-month low of $270.71 and a 12-month high of $481.57. The stock's fifty day simple moving average is $357.96 and its 200-day simple moving average is $336.87. The firm has a market capitalization of $16.71 billion, a PE ratio of 52.94, a price-to-earnings-growth ratio of 2.66 and a beta of 0.74. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.51.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The technology company reported $3.52 EPS for the quarter, beating analysts' consensus estimates of $3.48 by $0.04. The firm had revenue of $647.57 million for the quarter, compared to analyst estimates of $651.38 million. Tyler Technologies had a return on equity of 12.21% and a net margin of 13.51%. The business's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $2.91 earnings per share. As a group, research analysts predict that Tyler Technologies will post 10.11 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Daniel Pope sold 680 shares of the business's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $407.56, for a total transaction of $277,140.80. Following the transaction, the director owned 2,643 shares in the company, valued at $1,077,181.08. The trade was a 20.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey Puckett sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $419.69, for a total value of $4,196,900.00. Following the completion of the transaction, the chief operating officer owned 7,800 shares of the company's stock, valued at $3,273,582. The trade was a 56.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 38,430 shares of company stock worth $14,883,788. Corporate insiders own 1.10% of the company's stock.

Institutional Trading of Tyler Technologies

Several hedge funds have recently modified their holdings of the company. American Capital Management Inc. increased its position in Tyler Technologies by 348.9% during the first quarter. American Capital Management Inc. now owns 98,942 shares of the technology company's stock worth $33,876,000 after acquiring an additional 76,903 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Tyler Technologies in the 1st quarter worth approximately $2,739,000. Bank of America Corp DE bought a new stake in shares of Tyler Technologies in the 2nd quarter worth approximately $116,831,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Tyler Technologies by 13.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 400,775 shares of the technology company's stock valued at $117,211,000 after purchasing an additional 48,832 shares in the last quarter. Finally, Corient Private Wealth LP bought a new position in Tyler Technologies during the second quarter valued at approximately $838,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated software and technology services to public-sector organizations. Its customers include municipalities, counties, states, courts, school districts, public safety agencies, and other government entities. The company's solutions are designed to help public organizations manage operations, improve service delivery, and engage with residents and constituents.

Tyler's product portfolio includes enterprise resource planning and financial management software, property tax and appraisal systems, court and justice solutions, public safety and emergency communications platforms, permitting and licensing tools, and software for schools and elections.

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