Tyler Technologies (NYSE:TYL) Price Target Raised to $715.00 at Barclays

Key Points

• Barclays raised its price target for Tyler Technologies from $695.00 to $715.00, indicating a potential upside of 22.48% from the stock's previous close.
• Despite the optimistic outlook from Barclays, other firms like Robert W. Baird and Piper Sandler have lowered their price targets to $700.00 and $708.00, respectively, indicating mixed reviews among analysts.
• Tyler Technologies' stock is currently experiencing significant trading activity, with shares up 5.2% and reaching a midday trading price of $583.78.

Tyler Technologies (NYSE:TYL - Get Free Report) had its price objective increased by stock analysts at Barclays from $695.00 to $715.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the technology company's stock. Barclays's price objective would indicate a potential upside of 22.48% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird cut their target price on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Piper Sandler cut their price objective on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company reduced their target price 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. Needham & Company LLC reiterated a "buy" rating and set a $750.00 target price on shares of Tyler Technologies in a research note on Tuesday, May 13th. Finally, DA Davidson reduced their target price on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $686.91.

Tyler Technologies Trading Up 5.2%

Shares of NYSE TYL traded up $29.11 during midday trading on Thursday, reaching $583.78. The company's stock had a trading volume of 1,014,589 shares, compared to its average volume of 289,310. Tyler Technologies has a fifty-two week low of $513.52 and a fifty-two week high of $661.31. The stock has a market capitalization of $25.17 billion, a price-to-earnings ratio of 87.92, a PEG ratio of 4.31 and a beta of 0.84. The stock has a 50 day simple moving average of $573.44 and a 200-day simple moving average of $578.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.13. Tyler Technologies had a return on equity of 10.29% and a net margin of 13.23%. The firm had revenue of $584.01 million for the quarter, compared to analyst estimates of $587.59 million. During the same quarter in the previous year, the firm earned $2.40 EPS. The business's quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts anticipate that Tyler Technologies will post 8.52 EPS for the current year.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 1,200 shares of the business's stock in a transaction dated Friday, June 13th. The stock was 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. The trade was a 8.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $573.60, for a total transaction of $215,100.00. Following the completion of the transaction, the insider directly owned 247 shares of the company's stock, valued at approximately $141,679.20. The trade was a 60.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,500 shares of company stock worth $15,177,230. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Tyler Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC acquired a new stake in shares of Tyler Technologies during the first quarter worth $26,000. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Tyler Technologies by 820.0% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock worth $27,000 after buying an additional 41 shares during the period. Generali Asset Management SPA SGR acquired a new position in shares of Tyler Technologies during the 2nd quarter valued at $30,000. Brown Brothers Harriman & Co. boosted its stake in Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock worth $32,000 after acquiring an additional 42 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in Tyler Technologies by 221.1% in the first quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock worth $35,000 after purchasing an additional 42 shares during the period. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.