Brokerages Set Tyler Technologies, Inc. (NYSE:TYL) PT at $674.67

Shares of Tyler Technologies, Inc. (NYSE:TYL) have received an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $674.67.

TYL has been the subject of several recent research reports. Piper Sandler lowered their price objective on Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. The Goldman Sachs Group raised their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Robert W. Baird reduced their price objective on shares of Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. StockNews.com raised Tyler Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $750.00 price target on shares of Tyler Technologies in a research report on Thursday, April 24th.

Insiders Place Their Bets

In related news, Director Daniel M. Pope sold 365 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $550.00, for a total transaction of $200,750.00. Following the completion of the sale, the director now directly owns 2,853 shares in the company, valued at $1,569,150. This represents a 11.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,322,477. The trade was a 46.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,462 shares of company stock worth $9,464,626 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TYL. Deutsche Bank AG grew its holdings in Tyler Technologies by 5.6% in the first quarter. Deutsche Bank AG now owns 169,853 shares of the technology company’s stock valued at $98,751,000 after purchasing an additional 8,977 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Tyler Technologies by 3.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 303,076 shares of the technology company’s stock valued at $176,205,000 after acquiring an additional 11,288 shares during the period. ASR Vermogensbeheer N.V. purchased a new stake in Tyler Technologies in the 1st quarter worth $704,000. Strategy Asset Managers LLC acquired a new position in Tyler Technologies during the first quarter worth $617,000. Finally, Vanguard Group Inc. lifted its holdings in Tyler Technologies by 2.8% during the first quarter. Vanguard Group Inc. now owns 5,459,163 shares of the technology company’s stock valued at $3,173,903,000 after purchasing an additional 148,762 shares in the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

Tyler Technologies Stock Down 0.5 %

NYSE:TYL opened at $560.06 on Tuesday. The firm has a market capitalization of $24.15 billion, a price-to-earnings ratio of 92.42, a price-to-earnings-growth ratio of 4.93 and a beta of 0.88. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. Tyler Technologies has a twelve month low of $458.50 and a twelve month high of $661.31. The stock’s 50 day moving average price is $563.43 and its two-hundred day moving average price is $590.96.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.22. The business had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 EPS. Equities research analysts expect that Tyler Technologies will post 8.52 earnings per share for the current fiscal year.

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.