Piper Sandler Forecasts Strong Price Appreciation for Tyler Technologies (NYSE:TYL) Stock

Tyler Technologies (NYSE:TYL) had its target price boosted by Piper Sandler from $701.00 to $747.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s target price would indicate a potential upside of 14.85% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. StockNews.com lowered Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Barclays raised their price objective on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Oppenheimer lifted their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Wells Fargo & Company reiterated an “equal weight” rating and set a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Finally, Truist Financial reiterated a “buy” rating and set a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $649.23.

Tyler Technologies Trading Up 0.6 %

Shares of TYL opened at $650.43 on Friday. Tyler Technologies has a 1-year low of $397.80 and a 1-year high of $661.31. The stock has a market capitalization of $27.84 billion, a P/E ratio of 118.69, a P/E/G ratio of 4.78 and a beta of 0.78. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The business’s 50-day moving average price is $595.47 and its 200 day moving average price is $593.32.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. Analysts expect that Tyler Technologies will post 7.36 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Brian K. Miller sold 6,752 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $613.75, for a total value of $4,144,040.00. Following the completion of the sale, the chief financial officer now directly owns 11,918 shares in the company, valued at approximately $7,314,672.50. The trade was a 36.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 3,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $631.41, for a total value of $2,052,082.50. Following the completion of the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $47,355,750. This trade represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,502 shares of company stock worth $18,941,368. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC increased its position in Tyler Technologies by 221.4% in the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after buying an additional 31 shares during the period. Ashton Thomas Securities LLC bought a new position in Tyler Technologies in the 3rd quarter worth approximately $27,000. Sierra Ocean LLC bought a new position in Tyler Technologies in the 4th quarter worth approximately $32,000. Brown Brothers Harriman & Co. increased its position in Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock worth $32,000 after buying an additional 42 shares during the period. Finally, OFI Invest Asset Management bought a new position in Tyler Technologies in the 4th quarter worth approximately $41,000. 93.30% of the stock is owned by 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.