Tyler Technologies (NYSE:TYL) Given "Buy" Rating at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Tyler Technologies (NYSE:TYL - Free Report) in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a $560.00 price target on the technology company's stock, up from their prior price target of $510.00.

A number of other brokerages have also recently commented on TYL. Loop Capital raised their price objective on Tyler Technologies from $485.00 to $530.00 and gave the company a buy rating in a research note on Tuesday. JMP Securities reissued a market outperform rating and issued a $490.00 price objective on shares of Tyler Technologies in a research note on Friday, April 26th. Robert W. Baird raised their price objective on 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. raised their price objective on Tyler Technologies from $500.00 to $526.00 and gave the company an overweight rating in a research note on Thursday, February 15th. Finally, Needham & Company LLC raised their price objective on Tyler Technologies from $500.00 to $600.00 and gave the company a buy rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $519.09.

Tyler Technologies Price Performance

Shares of TYL traded down $6.38 during trading hours on Thursday, hitting $491.13. 207,024 shares of the company were exchanged, compared to its average volume of 210,011. The company has a market cap of $20.85 billion, a price-to-earnings ratio of 112.80, a P/E/G ratio of 4.63 and a beta of 0.76. The firm's fifty day moving average is $440.41 and its 200 day moving average is $428.21. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. Tyler Technologies has a fifty-two week low of $361.16 and a fifty-two week high of $500.49.

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

Insiders Place Their Bets

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,500 shares of the business's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $438.98, for a total value of $2,853,370.00. Following the transaction, the insider now owns 6,400 shares of the company's stock, valued at $2,809,472. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO H Lynn Moore, Jr. sold 1,849 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 79,502 shares in the company, valued at approximately $33,485,447.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John S. Marr, Jr. sold 6,500 shares of the business's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $438.98, for a total value of $2,853,370.00. Following the transaction, the insider now owns 6,400 shares of the company's stock, valued at $2,809,472. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,549 shares of company stock valued at $23,571,620. Insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On Tyler Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kapitalo Investimentos Ltda purchased a new position in shares of Tyler Technologies in the 4th quarter worth about $26,000. Covestor Ltd boosted its holdings in shares of Tyler Technologies by 153.6% in the 1st quarter. Covestor Ltd now owns 71 shares of the technology company's stock worth $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 4th quarter worth about $31,000. Headlands Technologies LLC purchased a new stake in Tyler Technologies during the 4th quarter valued at about $40,000. Finally, Larson Financial Group LLC boosted its holdings in Tyler Technologies by 675.0% during the 1st quarter. Larson Financial Group LLC now owns 93 shares of the technology company's stock valued at $40,000 after acquiring an additional 81 shares during the period. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

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.