Tyler Technologies (NYSE:TYL) Price Target Lowered to $610.00 at Wells Fargo & Company

Tyler Technologies (NYSE:TYL - Free Report) had its price target trimmed by Wells Fargo & Company from $640.00 to $610.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the technology company's stock.

Other analysts have also issued reports about the stock. Truist Financial restated a "buy" rating and issued a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. DA Davidson reissued a "neutral" rating and set a $575.00 target price on shares of Tyler Technologies in a research report on Thursday, January 30th. The Goldman Sachs Group upped 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. Piper Sandler boosted their price objective on Tyler Technologies from $701.00 to $747.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Finally, Barclays cut their target price on Tyler Technologies from $715.00 to $700.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $674.67.

Tyler Technologies Stock Performance

Shares of NYSE TYL traded down $6.70 during trading hours on Tuesday, hitting $523.80. 543,886 shares of the company's stock were exchanged, compared to its average volume of 255,684. The company's 50-day moving average price is $577.35 and its 200-day moving average price is $593.94. Tyler Technologies has a 1-year low of $452.57 and a 1-year high of $661.31. The stock has a market capitalization of $22.58 billion, a price-to-earnings ratio of 86.44, a PEG ratio of 4.93 and a beta of 0.84. 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 issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, topping analysts' consensus estimates of $2.56 by $0.22. The company had revenue of $562.43 million during the quarter, compared to analyst estimates of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. During the same period in the previous year, the company earned $2.20 earnings per share. On average, sell-side analysts expect that Tyler Technologies will post 8.52 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the transaction, the chief executive officer now owns 75,734 shares in the company, valued at $46,772,561.06. The trade was a 7.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the transaction, the insider now owns 6,983 shares in the company, valued at $4,322,477. The trade was a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,064 shares of company stock worth $8,688,030. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Tyler Technologies

Several large investors have recently made changes to their positions in TYL. Barclays PLC lifted its position in Tyler Technologies by 2.5% during 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. Virtu Financial LLC acquired a new position in Tyler Technologies in the third quarter valued at approximately $1,825,000. Wilmington Savings Fund Society FSB bought a new position in Tyler Technologies in the third quarter valued at approximately $651,000. Tidal Investments LLC grew its holdings in Tyler Technologies by 11.2% during the 3rd quarter. Tidal Investments LLC now owns 2,412 shares of the technology company's stock worth $1,408,000 after acquiring an additional 243 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Tyler Technologies by 2.0% during the 3rd quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company's stock valued at $547,354,000 after acquiring an additional 17,943 shares during the last quarter. Institutional investors and hedge funds 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.