Piper Sandler Reiterates “Overweight” Rating for Tyler Technologies (NYSE:TYL)

Tyler Technologies (NYSE:TYL)‘s stock had its “overweight” rating reiterated by Piper Sandler in a research report issued on Wednesday, Benzinga reports. They currently have a $520.00 target price on the technology company’s stock. Piper Sandler’s price objective would suggest a potential upside of 13.43% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. DA Davidson lifted their price objective on Tyler Technologies from $412.00 to $434.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Needham & Company LLC lifted their price objective on Tyler Technologies from $475.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. JMP Securities reaffirmed a “market outperform” rating and set a $490.00 price objective on shares of Tyler Technologies in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Tyler Technologies from $500.00 to $526.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $460.46.

Tyler Technologies Trading Up 9.4 %

TYL stock opened at $458.45 on Wednesday. The company has a market cap of $19.46 billion, a P/E ratio of 117.85, a PEG ratio of 4.12 and a beta of 0.81. Tyler Technologies has a twelve month low of $361.16 and a twelve month high of $464.81. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average of $422.28 and a 200-day moving average of $414.52.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. The company had revenue of $480.94 million during the quarter, compared to the consensus estimate of $483.34 million. Tyler Technologies had a return on equity of 8.85% and a net margin of 8.50%. As a group, equities research analysts expect that Tyler Technologies will post 6.77 EPS for the current year.

Insider Transactions at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $437.49, for a total transaction of $2,843,685.00. Following the completion of the transaction, the insider now directly owns 6,400 shares of the company’s stock, valued at $2,799,936. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $437.49, for a total transaction of $2,843,685.00. Following the sale, the insider now owns 6,400 shares in the company, valued at $2,799,936. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Glenn A. Carter sold 1,650 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $437.84, for a total value of $722,436.00. Following the sale, the director now owns 2,011 shares in the company, valued at approximately $880,496.24. The disclosure for this sale can be found here. Insiders sold 50,608 shares of company stock valued at $21,974,819 over the last three months. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

Several institutional investors and hedge funds have recently bought and sold shares of TYL. Kapitalo Investimentos Ltda bought a new stake in Tyler Technologies in the fourth quarter valued at approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Tyler Technologies in the fourth quarter valued at approximately $31,000. Headlands Technologies LLC bought a new stake in Tyler Technologies in the fourth quarter valued at approximately $40,000. Lindbrook Capital LLC raised its stake in Tyler Technologies by 50.6% in the fourth quarter. Lindbrook Capital LLC now owns 116 shares of the technology company’s stock valued at $49,000 after buying an additional 39 shares during the period. Finally, Chilton Capital Management LLC bought a new stake in Tyler Technologies in the fourth quarter valued at approximately $52,000. 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.