Tyler Technologies (NYSE:TYL) Given New $420.00 Price Target at BTIG Research

Key Points

• BTIG Research cut its price target on Tyler Technologies from $470 to $420 but kept a "buy" rating, implying roughly a 29.7% upside from the prior close.
• Tyler missed the latest quarter's estimates, reporting $2.64 EPS versus $2.71 expected and revenue of $575.2M (vs. $591.1M), though revenue was up 6.3% year‑over‑year.
• Analyst sentiment remains broadly positive with a consensus rating of "Moderate Buy" (12 Buys, 3 Holds) and a consensus price target of $463.69.

Tyler Technologies (NYSE:TYL - Get Free Report) had its price target reduced by investment analysts at BTIG Research from $470.00 to $420.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. BTIG Research's price target suggests a potential upside of 29.69% from the company's previous close.

Several other equities research analysts also recently weighed in on the company. DA Davidson reissued a "buy" rating and set a $460.00 price objective on shares of Tyler Technologies in a report on Tuesday, February 17th. Robert W. Baird set a $440.00 price objective on Tyler Technologies in a research report on Friday, February 13th. Piper Sandler reissued an "overweight" rating and set a $543.00 target price (down from $671.00) on shares of Tyler Technologies in a research report on Friday, February 13th. Wells Fargo & Company decreased their price objective on shares of Tyler Technologies from $420.00 to $335.00 and set an "equal weight" rating for the company in a research report on Friday, February 13th. Finally, TD Cowen dropped their target price on shares of Tyler Technologies from $600.00 to $500.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Tyler Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $463.69.

Tyler Technologies Price Performance

TYL stock opened at $323.86 on Friday. The company has a 50 day simple moving average of $341.03 and a 200 day simple moving average of $426.11. The stock has a market cap of $13.75 billion, a price-to-earnings ratio of 44.98, a P/E/G ratio of 2.20 and a beta of 0.92. Tyler Technologies has a 1 year low of $283.71 and a 1 year high of $621.34.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share for the quarter, missing analysts' consensus estimates of $2.71 by ($0.07). The company had revenue of $575.18 million during the quarter, compared to analyst estimates of $591.09 million. Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.43 EPS. On average, equities research analysts anticipate that Tyler Technologies will post 8.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Andrew D. Teed purchased 1,600 shares of Tyler Technologies stock in a transaction on Monday, February 23rd. The stock was acquired at an average cost of $309.91 per share, for a total transaction of $495,856.00. Following the completion of the acquisition, the director owned 5,118 shares of the company's stock, valued at $1,586,119.38. This trade represents a 45.48% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey David Puckett sold 5,174 shares of the company's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $369.93, for a total transaction of $1,914,017.82. Following the transaction, the chief operating officer owned 7,754 shares in the company, valued at $2,868,437.22. This represents a 40.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 7,298 shares of company stock valued at $2,658,721. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tyler Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. General American Investors Co. Inc. grew its holdings in shares of Tyler Technologies by 7.2% during the third quarter. General American Investors Co. Inc. now owns 44,381 shares of the technology company's stock valued at $23,218,000 after buying an additional 3,000 shares during the last quarter. Lazard Freres Gestion S.A.S. lifted its position in Tyler Technologies by 150.0% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 5,000 shares of the technology company's stock valued at $2,615,000 after acquiring an additional 3,000 shares in the last quarter. ICICI Prudential Asset Management Co Ltd bought a new stake in Tyler Technologies during the 3rd quarter worth approximately $2,111,000. Principal Financial Group Inc. raised its stake in shares of Tyler Technologies by 11.4% in the third quarter. Principal Financial Group Inc. now owns 1,410,640 shares of the technology company's stock worth $738,010,000 after purchasing an additional 144,612 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Tyler Technologies by 4.9% in the third quarter. Envestnet Asset Management Inc. now owns 172,932 shares of the technology company's stock valued at $90,471,000 after purchasing an additional 8,126 shares in the last quarter. Institutional investors own 93.30% of the company's stock.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler's product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.

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