Tyler Technologies (NYSE:TYL) Price Target Cut to $695.00 by Analysts at Barclays

Tyler Technologies (NYSE:TYL - Get Free Report) had its target price reduced by stock analysts at Barclays from $700.00 to $695.00 in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has an "overweight" rating on the technology company's stock. Barclays's price objective would suggest a potential upside of 29.41% from the stock's current price.

A number of other analysts have also recently commented on TYL. DA Davidson reiterated a "neutral" rating and set a $575.00 price objective on shares of Tyler Technologies in a research report on Thursday, January 30th. Wells Fargo & Company dropped their price objective on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. The Goldman Sachs Group increased their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Piper Sandler lowered their target price on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Finally, StockNews.com raised shares of Tyler Technologies from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $674.67.

Tyler Technologies Stock Up 0.5 %

Shares of TYL stock traded up $2.92 during mid-day trading on Friday, hitting $537.07. The company's stock had a trading volume of 107,148 shares, compared to its average volume of 256,451. Tyler Technologies has a 52-week low of $452.57 and a 52-week high of $661.31. The business has a 50-day moving average price of $573.02 and a 200 day moving average price of $593.07. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The stock has a market cap of $23.15 billion, a price-to-earnings ratio of 88.63, a PEG ratio of 4.93 and a beta of 0.84.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.56 by $0.22. The company had revenue of $562.43 million during the quarter, compared to analysts' expectations of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. Tyler Technologies's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.20 earnings per share. Research analysts predict that Tyler Technologies will post 8.52 EPS for the current fiscal year.

Insider Buying and Selling

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,514 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian K. Miller sold 1,550 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total transaction of $951,049.00. Following the transaction, the chief financial officer now owns 14,026 shares in the company, valued at $8,606,073.08. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,064 shares of company stock worth $8,688,030. Insiders own 1.10% of the company's stock.

Institutional Trading of Tyler Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. Oak Thistle LLC grew its holdings in shares of Tyler Technologies by 213.7% during the fourth quarter. Oak Thistle LLC now owns 2,328 shares of the technology company's stock valued at $1,342,000 after buying an additional 1,586 shares during the last quarter. Kensington Investment Counsel LLC lifted its position in Tyler Technologies by 0.8% during the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company's stock valued at $1,439,000 after purchasing an additional 20 shares during the period. Diversified Trust Co acquired a new position in Tyler Technologies during the fourth quarter valued at $596,000. Fiduciary Alliance LLC purchased a new stake in shares of Tyler Technologies during the 4th quarter worth about $1,594,000. Finally, Barclays PLC boosted its stake in shares of Tyler Technologies by 2.5% during the 3rd quarter. Barclays PLC now owns 88,296 shares of the technology company's stock worth $51,543,000 after acquiring an additional 2,169 shares in the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

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.