Tyler Technologies (NYSE:TYL) Given New $700.00 Price Target at Oppenheimer

Tyler Technologies (NYSE:TYL) had its price target increased by Oppenheimer from $625.00 to $700.00 in a research report released on Friday, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other research analysts have also recently issued reports on TYL. BTIG Research increased their price target on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Piper Sandler lifted their price target on Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $627.00 price objective on shares of Tyler Technologies in a research report on Friday, September 13th. Evercore ISI upgraded shares of Tyler Technologies to a “hold” rating in a research report on Friday, July 26th. Finally, Truist Financial reiterated a “buy” rating and issued a $600.00 price target (up previously from $560.00) on shares of Tyler Technologies in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $642.62.

Tyler Technologies Stock Performance

Tyler Technologies stock traded down $5.81 during midday trading on Friday, hitting $605.86. 238,251 shares of the company’s stock were exchanged, compared to its average volume of 228,208. The stock has a market cap of $25.85 billion, a price-to-earnings ratio of 125.18, a price-to-earnings-growth ratio of 5.42 and a beta of 0.78. Tyler Technologies has a 12-month low of $361.16 and a 12-month high of $631.43. The firm’s 50 day simple moving average is $584.88 and its 200 day simple moving average is $526.68. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06.

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

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Swedbank AB purchased a new stake in Tyler Technologies in the second quarter valued at approximately $251,390,000. International Assets Investment Management LLC grew its stake in shares of Tyler Technologies by 252,047.5% during the 3rd quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock valued at $179,564,000 after buying an additional 307,498 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Tyler Technologies by 15.3% during the 1st quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock worth $226,501,000 after buying an additional 70,801 shares during the last quarter. Quantum Capital Management LLC NJ raised its position in shares of Tyler Technologies by 179.4% in the 1st quarter. Quantum Capital Management LLC NJ now owns 107,760 shares of the technology company’s stock worth $45,799,000 after buying an additional 69,189 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Tyler Technologies by 18.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 424,982 shares of the technology company’s stock valued at $180,622,000 after acquiring an additional 65,814 shares during 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.