BTIG Research Increases Tyler Technologies (NYSE:TYL) Price Target to $550.00

Tyler Technologies (NYSE:TYL - Get Free Report) had its target price raised by investment analysts at BTIG Research from $515.00 to $550.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. BTIG Research's price target points to a potential upside of 10.55% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler reaffirmed an "overweight" rating and set a $520.00 price objective on shares of Tyler Technologies in a research note on Wednesday, April 24th. Oppenheimer upped their price objective on shares of Tyler Technologies from $500.00 to $550.00 and gave the company an "outperform" rating in a research note on Wednesday. Robert W. Baird upped their price objective on shares of Tyler Technologies from $500.00 to $525.00 and gave the company an "outperform" rating in a research note on Friday, April 26th. JPMorgan Chase & Co. upped their price target on shares of Tyler Technologies from $500.00 to $526.00 and gave the company an "overweight" rating in a report on Thursday, February 15th. Finally, Loop Capital upped their price target on shares of Tyler Technologies from $485.00 to $530.00 and gave the company a "buy" rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $514.55.

Tyler Technologies Stock Performance

TYL stock traded up $1.52 during mid-day trading on Wednesday, hitting $497.50. The company had a trading volume of 147,683 shares, compared to its average volume of 210,041. The firm has a market cap of $21.12 billion, a PE ratio of 112.56, a price-to-earnings-growth ratio of 4.61 and a beta of 0.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94. Tyler Technologies has a 12 month low of $361.16 and a 12 month high of $500.49. The stock's fifty day moving average price is $440.41 and its two-hundred day moving average price is $428.21.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.48 by $0.26. The business had revenue of $512.36 million for the quarter, compared to analyst estimates of $507.79 million. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. On average, analysts forecast that Tyler Technologies will post 7.14 earnings per share for the current fiscal year.

Insider Activity at Tyler Technologies

In related news, Director Daniel M. Pope sold 520 shares of the stock in a transaction dated 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 approximately $1,715,691.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO H Lynn Moore, Jr. sold 1,849 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $421.19, for a total value of $778,780.31. Following the transaction, the chief executive officer now owns 79,502 shares in the company, valued at approximately $33,485,447.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel M. Pope sold 520 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total transaction of $255,413.60. Following the completion of the transaction, the director now owns 3,493 shares in the company, valued at approximately $1,715,691.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,549 shares of company stock valued at $27,931,420. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Tyler Technologies

Institutional investors have recently made changes to their positions in the business. Kapitalo Investimentos Ltda bought a new stake in Tyler Technologies during the 4th quarter worth approximately $26,000. Covestor Ltd grew its holdings in shares of Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company's stock valued at $30,000 after purchasing an additional 43 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Tyler Technologies in the fourth quarter valued at $31,000. Headlands Technologies LLC purchased a new position in shares of Tyler Technologies in the fourth quarter valued at $40,000. Finally, Larson Financial Group LLC grew its holdings in shares of Tyler Technologies by 675.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the technology company's stock valued at $40,000 after purchasing an additional 81 shares in the last quarter. Institutional investors 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.