Brokerages Set Tyler Technologies, Inc. (NYSE:TYL) PT at $688.27

Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eleven brokerages that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $688.2727.

Several research firms have recently commented on TYL. Cantor Fitzgerald assumed coverage on shares of Tyler Technologies in a report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price target on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $750.00 price objective on shares of Tyler Technologies in a report on Tuesday, May 13th. Barclays upped their price objective on shares of Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. DA Davidson set a $585.00 price objective on shares of Tyler Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Finally, Wall Street Zen cut shares of Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st.

Tyler Technologies Trading Down 2.2%

NYSE TYL traded down $12.33 during trading hours on Monday, reaching $546.08. The company's stock had a trading volume of 279,569 shares, compared to its average volume of 292,530. The business has a 50-day simple moving average of $569.57 and a 200 day simple moving average of $571.23. Tyler Technologies has a 52 week low of $513.52 and a 52 week high of $661.31. The stock has a market cap of $23.62 billion, a PE ratio of 78.01, a PEG ratio of 4.34 and a beta of 0.89.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. The company had revenue of $584.01 million for the quarter, compared to analysts' expectations of $587.59 million. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%.The business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.40 earnings per share. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. As a group, equities analysts predict that Tyler Technologies will post 8.52 EPS for the current year.

Insider Activity

In other news, CFO Brian K. Miller sold 1,200 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $580.72, for a total transaction of $696,864.00. Following the completion of the transaction, the chief financial officer owned 13,772 shares of the company's stock, valued at approximately $7,997,675.84. This represents a 8.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John S. Marr, Jr. sold 4,250 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $555.53, for a total transaction of $2,361,002.50. Following the completion of the transaction, the insider directly owned 6,983 shares of the company's stock, valued at $3,879,265.99. This trade represents a 37.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,994 shares of company stock valued at $9,811,618. Insiders own 1.10% of the company's stock.

Institutional Trading of Tyler Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. DLD Asset Management LP acquired a new stake in Tyler Technologies during the 2nd quarter worth $5,780,190,000. Vanguard Group Inc. boosted its position in shares of Tyler Technologies by 2.0% during the second quarter. Vanguard Group Inc. now owns 5,570,120 shares of the technology company's stock worth $3,302,190,000 after purchasing an additional 110,957 shares in the last quarter. State Street Corp lifted its position in Tyler Technologies by 4.5% in the 2nd quarter. State Street Corp now owns 1,913,672 shares of the technology company's stock valued at $1,134,501,000 after acquiring an additional 81,679 shares in the last quarter. Geode Capital Management LLC lifted its position in Tyler Technologies by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,206,406 shares of the technology company's stock valued at $713,144,000 after acquiring an additional 30,686 shares in the last quarter. Finally, Norges Bank bought a new stake in Tyler Technologies in the 2nd quarter valued at $712,276,000. Institutional investors and hedge funds 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.