Tyler Technologies (NYSE:TYL) PT Raised to $701.00 at Piper Sandler

Tyler Technologies (NYSE:TYL) had its price target boosted by Piper Sandler from $625.00 to $701.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price objective would suggest a potential upside of 15.70% from the company’s previous close.

Several other research analysts have also recently issued reports on TYL. JMP Securities raised their price objective on Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a research note on Monday, July 22nd. Truist Financial reissued a “buy” rating and set a $600.00 price target (up from $560.00) on shares of Tyler Technologies in a research report on Friday, July 26th. Barclays raised shares of Tyler Technologies from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $577.00 to $700.00 in a report on Monday, October 7th. Oppenheimer raised their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Wells Fargo & Company upped their price target on shares of Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $642.62.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock opened at $605.86 on Friday. The company has a 50 day moving average price of $584.88 and a 200 day moving average price of $527.40. The firm has a market capitalization of $25.72 billion, a P/E ratio of 137.07, a PEG ratio of 5.42 and a beta of 0.78. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. Tyler Technologies has a 52 week low of $361.16 and a 52 week high of $631.43.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The business had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $1.66 earnings per share. Sell-side analysts expect that Tyler Technologies will post 7.21 EPS for the current year.

Insider Activity at Tyler Technologies

In related news, Director Daniel M. Pope sold 275 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $578.26, for a total value of $159,021.50. Following the completion of the transaction, the director now owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Brian K. Miller sold 2,000 shares of Tyler Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $567.96, for a total value of $1,135,920.00. Following the sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at approximately $6,787,122. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel M. Pope sold 275 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the transaction, the director now owns 3,218 shares of the company’s stock, valued at $1,860,840.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,375 shares of company stock worth $17,049,739 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Waldron Private Wealth LLC increased its stake in Tyler Technologies by 3.5% during the 2nd quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock worth $360,000 after buying an additional 24 shares in the last quarter. Industrial Alliance Investment Management Inc. boosted its stake in Tyler Technologies by 4.4% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company’s stock worth $295,000 after purchasing an additional 29 shares during the last quarter. George Kaiser Family Foundation grew its holdings in shares of Tyler Technologies by 0.7% during the second quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock worth $2,100,000 after buying an additional 29 shares in the last quarter. UMB Bank n.a. raised its holdings in Tyler Technologies by 2.4% in the 3rd quarter. UMB Bank n.a. now owns 1,354 shares of the technology company’s stock valued at $790,000 after acquiring an additional 32 shares during the last quarter. Finally, Torray Investment Partners LLC lifted its stake in Tyler Technologies by 0.3% in the 2nd quarter. Torray Investment Partners LLC now owns 11,010 shares of the technology company’s stock worth $5,536,000 after purchasing an additional 33 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

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.