Tyler Technologies (NYSE:TYL) Hits New 52-Week High at $493.24

Shares of Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $493.24 and last traded at $492.57, with a volume of 57640 shares traded. The stock had previously closed at $489.14.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Piper Sandler reiterated an "overweight" rating and issued a $520.00 price target on shares of Tyler Technologies in a research report on Wednesday, April 24th. Needham & Company LLC restated a "buy" rating and set a $500.00 target price on shares of Tyler Technologies in a research report on Thursday, April 25th. JMP Securities restated a "market outperform" rating and set a $490.00 target price on shares of Tyler Technologies in a research report on Friday, April 26th. Robert W. Baird boosted their target price on Tyler Technologies from $500.00 to $525.00 and gave the company an "outperform" rating in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. boosted their target price on Tyler Technologies from $500.00 to $526.00 and gave the company an "overweight" rating in a research report on Thursday, February 15th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $492.22.

Tyler Technologies Stock Up 1.0 %

The company's 50 day moving average price is $437.52 and its two-hundred day moving average price is $427.16. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. The stock has a market cap of $20.97 billion, a P/E ratio of 111.72, a P/E/G ratio of 4.57 and a beta of 0.76.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.26. The firm had revenue of $512.36 million during the quarter, compared to the consensus estimate of $507.79 million. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. As a group, research analysts expect that Tyler Technologies, Inc. will post 7.14 earnings per share for the current year.

Insider Activity

In other news, Director Daniel M. Pope sold 520 shares of the business's stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $491.18, for a total transaction of $255,413.60. Following the sale, the director now directly owns 3,493 shares of the company's stock, valued at $1,715,691.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Tyler Technologies news, Director Daniel M. Pope sold 520 shares of the company's stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $491.18, for a total value of $255,413.60. Following the sale, the director now directly owns 3,493 shares of the company's stock, valued at $1,715,691.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 10,000 shares of the company's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $435.98, for a total transaction of $4,359,800.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at $32,698,500. The disclosure for this sale can be found here. Insiders have sold 70,049 shares of company stock valued at $31,195,345 over the last ninety days. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wahed Invest LLC raised its position in shares of Tyler Technologies by 14.4% in the first quarter. Wahed Invest LLC now owns 764 shares of the technology company's stock worth $325,000 after acquiring an additional 96 shares during the period. Plato Investment Management Ltd acquired a new position in shares of Tyler Technologies in the first quarter worth about $75,000. Comerica Bank raised its position in shares of Tyler Technologies by 12.5% in the first quarter. Comerica Bank now owns 16,887 shares of the technology company's stock worth $7,177,000 after acquiring an additional 1,876 shares during the period. Tidal Investments LLC raised its position in shares of Tyler Technologies by 64.8% in the first quarter. Tidal Investments LLC now owns 2,953 shares of the technology company's stock worth $1,253,000 after acquiring an additional 1,161 shares during the period. Finally, Redwood Investment Management LLC raised its position in shares of Tyler Technologies by 5.3% in the first quarter. Redwood Investment Management LLC now owns 1,308 shares of the technology company's stock worth $556,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds 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.