Tyler Technologies (NYSE:TYL) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Tyler Technologies (NYSE:TYL) had its target price upped by equities researchers at The Goldman Sachs Group from $660.00 to $728.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 13.02% from the company’s current price.

TYL has been the topic of a number of other research reports. Robert W. Baird boosted their price target on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Needham & Company LLC restated a “buy” rating and set a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. JMP Securities boosted their price target on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research note on Friday, October 25th. Piper Sandler boosted their price target on Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, Barclays boosted their price target on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $676.25.

Tyler Technologies Price Performance

TYL opened at $644.14 on Tuesday. The business’s 50-day moving average is $597.46 and its two-hundred day moving average is $595.78. Tyler Technologies has a 1 year low of $397.80 and a 1 year high of $661.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The firm has a market capitalization of $27.57 billion, a PE ratio of 106.29, a price-to-earnings-growth ratio of 5.01 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. Research analysts anticipate that Tyler Technologies will post 8.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. The trade was a 63.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brian K. Miller sold 6,752 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $613.75, for a total value of $4,144,040.00. Following the completion of the transaction, the chief financial officer now directly owns 11,918 shares of the company’s stock, valued at $7,314,672.50. The trade was a 36.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,502 shares of company stock valued at $18,941,368. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TYL. Norges Bank acquired a new position in shares of Tyler Technologies during the 4th quarter worth approximately $528,465,000. Van ECK Associates Corp raised its stake in shares of Tyler Technologies by 1,991.8% during the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after buying an additional 524,259 shares during the period. International Assets Investment Management LLC raised 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 worth $179,564,000 after buying an additional 307,498 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Tyler Technologies during the 4th quarter worth approximately $159,947,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Tyler Technologies by 148.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after buying an additional 275,511 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

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.