Oppenheimer Raises Tyler Technologies (NYSE:TYL) Price Target to $550.00

Tyler Technologies (NYSE:TYLFree Report) had its price objective upped by Oppenheimer from $500.00 to $550.00 in a research note published on Wednesday, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other analysts also recently issued reports on the stock. DA Davidson lifted their price objective on shares of Tyler Technologies from $412.00 to $434.00 and gave the stock a neutral rating in a report on Thursday, February 22nd. Robert W. Baird boosted their price target on shares of Tyler Technologies from $500.00 to $525.00 and gave the stock an outperform rating in a research note on Friday, April 26th. Piper Sandler reissued an overweight rating and issued a $520.00 price target on shares of Tyler Technologies in a research note on Wednesday, April 24th. Needham & Company LLC boosted their price target on shares of Tyler Technologies from $500.00 to $600.00 and gave the stock a buy rating in a research note on Tuesday. Finally, Loop Capital boosted their price objective on shares of Tyler Technologies from $485.00 to $530.00 and gave the company a buy rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $519.09.

View Our Latest Research Report on Tyler Technologies

Tyler Technologies Stock Up 0.2 %

Shares of NYSE:TYL opened at $492.05 on Wednesday. The firm has a fifty day moving average price of $443.38 and a two-hundred day moving average price of $429.19. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94. Tyler Technologies has a one year low of $361.16 and a one year high of $500.49. The company has a market cap of $20.89 billion, a price-to-earnings ratio of 111.32, a PEG ratio of 4.59 and a beta of 0.76.

Tyler Technologies (NYSE:TYLGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.26. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. The company had revenue of $512.36 million during the quarter, compared to the consensus estimate of $507.79 million. Analysts anticipate that Tyler Technologies will post 7.14 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Daniel M. Pope sold 520 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total value of $255,413.60. Following the sale, the director now owns 3,493 shares in the company, valued at approximately $1,715,691.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Daniel M. Pope sold 520 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $491.18, for a total value of $255,413.60. Following the transaction, the director now owns 3,493 shares in the company, valued at approximately $1,715,691.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John S. Marr, Jr. sold 6,500 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $438.98, for a total transaction of $2,853,370.00. Following the sale, the insider now owns 6,400 shares of the company’s stock, valued at $2,809,472. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,049 shares of company stock worth $20,727,935. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TYL. Teacher Retirement System of Texas boosted its holdings in shares of Tyler Technologies by 2.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 3,246 shares of the technology company’s stock valued at $1,253,000 after acquiring an additional 79 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Tyler Technologies by 4.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,460 shares of the technology company’s stock worth $1,336,000 after purchasing an additional 138 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in Tyler Technologies by 7.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,205 shares of the technology company’s stock valued at $465,000 after buying an additional 85 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Tyler Technologies during the 3rd quarter valued at $275,000. Finally, Column Capital Advisors LLC boosted its stake in shares of Tyler Technologies by 50.5% in the 3rd quarter. Column Capital Advisors LLC now owns 146 shares of the technology company’s stock worth $56,000 after buying an additional 49 shares during the last quarter. 93.30% of the stock is owned by institutional investors.

About Tyler Technologies

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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.

Further Reading

Analyst Recommendations for Tyler Technologies (NYSE:TYL)

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