Tyler Technologies (NYSE:TYL - Get Free Report)'s stock had its "market outperform" rating reaffirmed by JMP Securities in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $490.00 price target on the technology company's stock. JMP Securities' price objective points to a potential upside of 6.35% from the stock's current price.
Several other equities analysts also recently commented on TYL. JPMorgan Chase & Co. increased 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. DA Davidson increased their target price on Tyler Technologies from $412.00 to $434.00 and gave the company a "neutral" rating in a research report on Thursday, February 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $500.00 target price on shares of Tyler Technologies in a research report on Thursday. Robert W. Baird increased 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. Finally, Piper Sandler reiterated an "overweight" rating and issued a $520.00 target price on shares of Tyler Technologies in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $465.85.
Check Out Our Latest Stock Analysis on TYL
Tyler Technologies Price Performance
Shares of TYL stock traded up $2.67 on Friday, hitting $460.74. 282,294 shares of the company's stock were exchanged, compared to its average volume of 211,869. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.86 and a quick ratio of 0.86. Tyler Technologies has a 12 month low of $361.16 and a 12 month high of $465.78. The stock has a market cap of $19.55 billion, a P/E ratio of 104.24, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. The company has a 50 day moving average of $422.62 and a 200 day moving average of $414.83.
Tyler Technologies (NYSE:TYL - Get Free Report) last announced 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. Tyler Technologies had a return on equity of 9.49% and a net margin of 9.50%. The business had revenue of $480.94 million during the quarter, compared to the consensus estimate of $483.34 million. On average, equities research analysts predict that Tyler Technologies will post 6.77 EPS for the current year.
Insider Buying and Selling
In related news, insider John S. Marr, Jr. sold 6,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $427.82, for a total transaction of $2,780,830.00. Following the completion of the sale, the insider now owns 6,400 shares of the company's stock, valued at $2,738,048. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO H Lynn Moore, Jr. sold 1,849 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $421.19, for a total transaction of $778,780.31. Following the completion of the sale, the chief executive officer now owns 79,502 shares of the company's stock, valued at $33,485,447.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John S. Marr, Jr. sold 6,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $427.82, for a total value of $2,780,830.00. Following the completion of the sale, the insider now directly owns 6,400 shares of the company's stock, valued at approximately $2,738,048. The disclosure for this sale can be found here. Insiders sold 50,608 shares of company stock valued at $21,974,819 over the last 90 days. Company insiders own 2.20% of the company's stock.
Institutional Investors Weigh In On Tyler Technologies
A number of hedge funds have recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. grew its stake in Tyler Technologies by 2.7% in the third quarter. First Trust Direct Indexing L.P. now owns 1,095 shares of the technology company's stock valued at $423,000 after acquiring an additional 29 shares during the period. Baron Wealth Management LLC lifted its holdings in shares of Tyler Technologies by 2.0% in the fourth quarter. Baron Wealth Management LLC now owns 1,463 shares of the technology company's stock valued at $612,000 after purchasing an additional 29 shares in the last quarter. Centered Wealth LLC dba Miller Equity Capital Advisors lifted its holdings in shares of Tyler Technologies by 0.8% in the fourth quarter. Centered Wealth LLC dba Miller Equity Capital Advisors now owns 3,920 shares of the technology company's stock valued at $1,639,000 after purchasing an additional 30 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in shares of Tyler Technologies by 0.3% in the fourth quarter. GW&K Investment Management LLC now owns 12,044 shares of the technology company's stock valued at $5,035,000 after purchasing an additional 31 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of Tyler Technologies by 5.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 670 shares of the technology company's stock valued at $280,000 after purchasing an additional 33 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.
Tyler Technologies Company Profile
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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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