Barclays Cuts Tyler Technologies (NYSE:TYL) Price Target to $695.00

Tyler Technologies (NYSE:TYL) had its price target cut by Barclays from $700.00 to $695.00 in a research report report published on Friday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other research firms also recently commented on TYL. Needham & Company LLC reiterated a “buy” rating and issued a $750.00 price objective on shares of Tyler Technologies in a report on Thursday. Wells Fargo & Company decreased their price target on shares of Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Truist Financial restated a “buy” rating and set a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Piper Sandler decreased their target price on Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, The Goldman Sachs Group lifted their price target on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $674.67.

Tyler Technologies Stock Performance

TYL stock opened at $523.80 on Friday. Tyler Technologies has a 1-year low of $452.57 and a 1-year high of $661.31. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm has a market cap of $22.58 billion, a PE ratio of 86.44, a P/E/G ratio of 4.93 and a beta of 0.84. The business’s 50-day moving average price is $577.35 and its two-hundred day moving average price is $593.99.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.22. The firm had revenue of $562.43 million during the quarter, compared to analyst estimates of $556.45 million. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. During the same period in the prior year, the business earned $2.20 EPS. As a group, research analysts forecast that Tyler Technologies will post 8.52 earnings per share for the current year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 1,550 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total transaction of $951,049.00. Following the sale, the chief financial officer now owns 14,026 shares in the company, valued at $8,606,073.08. This trade represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the sale, the chief executive officer now owns 75,734 shares of the company’s stock, valued at $46,772,561.06. The trade was a 7.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,064 shares of company stock valued at $8,688,030. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Tyler Technologies during the fourth quarter worth about $528,465,000. GAMMA Investing LLC lifted its holdings in Tyler Technologies by 57,694.7% in the 1st quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company’s stock worth $510,739,000 after buying an additional 876,960 shares during the period. Van ECK Associates Corp grew its position in shares of Tyler Technologies by 1,991.8% in 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 last quarter. Raymond James Financial Inc. purchased a new position in shares of Tyler Technologies during the fourth quarter valued at approximately $159,947,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after acquiring an additional 275,511 shares in the last quarter. 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.