Brokerages Set Tyler Technologies, Inc. (NYSE:TYL) PT at $680.50

Shares of Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) have been given an average recommendation of "Moderate Buy" by the thirteen analysts that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $680.50.

A number of research firms recently commented on TYL. Barclays dropped their target price on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Cantor Fitzgerald began coverage on shares of Tyler Technologies in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 target price for the company. Needham & Company LLC restated a "buy" rating and issued a $750.00 target price on shares of Tyler Technologies in a research note on Tuesday, May 13th. DA Davidson reduced their price objective on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Finally, Wall Street Zen downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st.

Tyler Technologies Stock Performance

Shares of NYSE TYL traded down $3.58 during midday trading on Friday, reaching $560.78. 182,781 shares of the stock were exchanged, compared to its average volume of 267,868. The company has a 50 day simple moving average of $575.15 and a 200 day simple moving average of $579.00. The stock has a market capitalization of $24.18 billion, a P/E ratio of 84.45, a PEG ratio of 4.41 and a beta of 0.84. Tyler Technologies has a twelve month low of $513.52 and a twelve month high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.56 by $0.22. Tyler Technologies had a net margin of 13.23% and a return on equity of 10.29%. The firm had revenue of $562.43 million for the quarter, compared to analyst estimates of $556.45 million. During the same period in the prior year, the business posted $2.20 EPS. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, research analysts expect that Tyler Technologies will post 8.52 earnings per share for the current year.

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 5,250 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $585.18, for a total transaction of $3,072,195.00. Following the completion of the transaction, the chief executive officer owned 81,775 shares in the company, valued at approximately $47,853,094.50. This represents a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 1,200 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $580.72, for a total transaction of $696,864.00. Following the transaction, the chief financial officer owned 13,772 shares of the company's stock, valued at $7,997,675.84. This represents a 8.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock valued at $15,177,230 over the last quarter. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tyler Technologies

Several large investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its position in shares of Tyler Technologies by 12.6% in the first quarter. Exchange Traded Concepts LLC now owns 501 shares of the technology company's stock valued at $291,000 after acquiring an additional 56 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in shares of Tyler Technologies by 20.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 42,500 shares of the technology company's stock valued at $24,507,000 after purchasing an additional 7,300 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Tyler Technologies by 0.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,133 shares of the technology company's stock valued at $2,984,000 after purchasing an additional 31 shares in the last quarter. CX Institutional acquired a new position in shares of Tyler Technologies in the first quarter valued at $176,000. Finally, EP Wealth Advisors LLC raised its stake in shares of Tyler Technologies by 268.5% in the fourth quarter. EP Wealth Advisors LLC now owns 1,861 shares of the technology company's stock valued at $1,073,000 after purchasing an additional 1,356 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.