Tyler Technologies (NYSE:TYL) Rating Reiterated by Piper Sandler

Tyler Technologies (NYSE:TYL - Get Free Report)'s stock had its "overweight" rating restated by equities research analysts at Piper Sandler in a research report issued on Wednesday, Benzinga reports. They presently have a $520.00 price target on the technology company's stock. Piper Sandler's target price indicates a potential upside of 24.11% from the company's current price.

TYL has been the subject of several other research reports. JPMorgan Chase & Co. upped their price objective on shares of Tyler Technologies from $500.00 to $526.00 and gave the stock an "overweight" rating in a report on Thursday, February 15th. Needham & Company LLC upped their price target on shares of Tyler Technologies from $475.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, February 15th. JMP Securities reissued a "market outperform" rating and issued a $490.00 price target on shares of Tyler Technologies in a report on Friday, February 16th. Finally, DA Davidson upped their price target on shares of Tyler Technologies from $412.00 to $434.00 and gave the company a "neutral" rating in a report on Thursday, February 22nd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Tyler Technologies presently has an average rating of "Moderate Buy" and an average target price of $460.46.

Tyler Technologies Stock Performance

Shares of TYL traded up $0.56 during midday trading on Wednesday, hitting $419.00. 308,354 shares of the stock traded hands, compared to its average volume of 207,239. The firm has a market capitalization of $17.78 billion, a PE ratio of 107.71, a price-to-earnings-growth ratio of 4.05 and a beta of 0.81. The business's 50 day moving average price is $422.70 and its two-hundred day moving average price is $414.49. Tyler Technologies has a 1-year low of $361.16 and a 1-year high of $454.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.86.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.06. The business had revenue of $480.94 million during the quarter, compared to the consensus estimate of $483.34 million. Tyler Technologies had a net margin of 8.50% and a return on equity of 8.85%. Equities research analysts predict that Tyler Technologies will post 6.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 10,000 shares of the business's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $435.98, for a total transaction of $4,359,800.00. Following the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $32,698,500. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO H Lynn Moore, Jr. sold 7,500 shares of the company's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $435.19, for a total value of $3,263,925.00. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $32,639,250. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 dated Thursday, February 22nd. The shares were sold at an average price of $435.98, for a total value of $4,359,800.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $32,698,500. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,608 shares of company stock worth $21,974,819. Company insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Tyler Technologies

A number of large investors have recently added to or reduced their stakes in TYL. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Tyler Technologies by 7.6% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,205 shares of the technology company's stock valued at $465,000 after acquiring an additional 85 shares during the period. Raymond James Trust N.A. boosted its position in shares of Tyler Technologies by 4.9% in the fourth quarter. Raymond James Trust N.A. now owns 1,515 shares of the technology company's stock valued at $633,000 after acquiring an additional 71 shares during the period. Nordea Investment Management AB boosted its position in shares of Tyler Technologies by 4.6% in the fourth quarter. Nordea Investment Management AB now owns 2,600 shares of the technology company's stock valued at $1,091,000 after acquiring an additional 115 shares during the period. DNB Asset Management AS acquired a new position in shares of Tyler Technologies in the fourth quarter valued at $5,040,000. Finally, NBW Capital LLC raised its stake in shares of Tyler Technologies by 50.7% in the fourth quarter. NBW Capital LLC now owns 13,345 shares of the technology company's stock valued at $5,580,000 after purchasing an additional 4,489 shares in the last quarter. Institutional investors 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.

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