Robert W. Baird Cuts Tyler Technologies (NYSE:TYL) Price Target to $700.00

Tyler Technologies (NYSE:TYL - Free Report) had its price target decreased by Robert W. Baird from $785.00 to $700.00 in a research note released on Friday morning, MarketBeat Ratings reports. Robert W. Baird currently has an outperform rating on the technology company's stock.

Several other brokerages have also recently issued reports on TYL. StockNews.com upgraded Tyler Technologies from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. Needham & Company LLC reissued a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a report on Thursday, April 24th. Piper Sandler lowered their price objective on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company cut their target price on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Finally, Barclays reduced their price objective on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $674.67.

Tyler Technologies Stock Performance

NYSE:TYL traded up $2.85 during mid-day trading on Friday, hitting $537.00. The stock had a trading volume of 120,447 shares, compared to its average volume of 256,475. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The company has a 50 day simple moving average of $573.02 and a 200-day simple moving average of $593.07. The stock has a market capitalization of $23.15 billion, a price-to-earnings ratio of 88.61, a P/E/G ratio of 4.93 and a beta of 0.84. Tyler Technologies has a 52 week low of $452.57 and a 52 week high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The firm had revenue of $562.43 million for the quarter, compared to the consensus estimate of $556.45 million. During the same quarter in the previous year, the business earned $2.20 EPS. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. On average, research analysts expect that Tyler Technologies will post 8.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider John S. Marr, Jr. sold 6,000 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the transaction, the insider now owns 6,983 shares of the company's stock, valued at approximately $4,322,477. The trade was a 46.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total transaction of $951,049.00. Following the completion of the sale, the chief financial officer now directly owns 14,026 shares of the company's stock, valued at approximately $8,606,073.08. This trade represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,064 shares of company stock valued at $8,688,030 in the last quarter. Insiders own 1.10% of the company's stock.

Institutional Trading of Tyler Technologies

A number of hedge funds have recently modified their holdings of TYL. Oak Thistle LLC boosted its stake in Tyler Technologies by 213.7% during the fourth quarter. Oak Thistle LLC now owns 2,328 shares of the technology company's stock worth $1,342,000 after buying an additional 1,586 shares in the last quarter. Kensington Investment Counsel LLC increased its stake in Tyler Technologies by 0.8% in the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company's stock valued at $1,439,000 after acquiring an additional 20 shares during the period. Diversified Trust Co acquired a new position in Tyler Technologies in the fourth quarter worth about $596,000. Fiduciary Alliance LLC bought a new position in Tyler Technologies during the fourth quarter worth about $1,594,000. Finally, Barclays PLC grew its stake in shares of Tyler Technologies by 2.5% in the 3rd quarter. Barclays PLC now owns 88,296 shares of the technology company's stock valued at $51,543,000 after purchasing an additional 2,169 shares during the period. 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.