Tyler Technologies' (TYL) "Buy" Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Tyler Technologies (NYSE:TYL - Free Report) in a research report released on Tuesday,Benzinga reports. The firm currently has a $750.00 price target on the technology company's stock.

Other research analysts have also recently issued research reports about the stock. DA Davidson dropped their price target on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Piper Sandler dropped their price target 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. Truist Financial reissued a "buy" rating and set a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Barclays decreased their price target on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Finally, The Goldman Sachs Group raised their price target on Tyler Technologies from $660.00 to $728.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $674.67.

Tyler Technologies Stock Performance

Tyler Technologies stock traded up $4.13 during midday trading on Tuesday, reaching $576.86. 182,465 shares of the company traded hands, compared to its average volume of 260,089. The firm has a market capitalization of $24.88 billion, a price-to-earnings ratio of 95.19, a price-to-earnings-growth ratio of 4.93 and a beta of 0.88. The business has a 50 day moving average of $561.21 and a two-hundred day moving average of $589.72. Tyler Technologies has a 12 month low of $458.50 and a 12 month high of $661.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21.

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

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 1,550 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total transaction of $951,049.00. Following the sale, the chief financial officer now directly owns 14,026 shares of the company's stock, valued at $8,606,073.08. The trade was a 9.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total value of $4,022,981.26. Following the sale, the chief executive officer now directly owns 75,734 shares in the company, valued at $46,772,561.06. The trade was a 7.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,462 shares of company stock valued at $12,258,926. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tyler Technologies

Large investors have recently added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC bought a new stake in Tyler Technologies during the first quarter worth approximately $26,000. Larson Financial Group LLC boosted its position in shares of Tyler Technologies by 221.4% during the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock valued at $26,000 after buying an additional 31 shares during the period. Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of Tyler Technologies by 820.0% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock valued at $27,000 after buying an additional 41 shares during the period. Sierra Ocean LLC purchased a new position in shares of Tyler Technologies during the fourth quarter valued at approximately $32,000. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock valued at $32,000 after buying an additional 42 shares during the period. 93.30% of the stock is owned by 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.