Tyler Technologies (NYSE:TYL) Price Target Raised to $627.00

Tyler Technologies (NYSE:TYL) had its target price hoisted by analysts at The Goldman Sachs Group from $515.00 to $627.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 8.10% from the company’s previous close.

Several other equities analysts have also commented on TYL. JMP Securities increased their target price on Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a report on Monday. Truist Financial reissued a “buy” rating and issued a $600.00 target price (up previously from $560.00) on shares of Tyler Technologies in a report on Friday. Loop Capital increased their target price on Tyler Technologies from $485.00 to $530.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Needham & Company LLC reissued a “buy” rating and issued a $600.00 target price on shares of Tyler Technologies in a report on Thursday. Finally, Oppenheimer increased their target price on Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $571.38.

Tyler Technologies Trading Up 2.8 %

NYSE:TYL traded up $15.66 during trading hours on Friday, reaching $580.00. 74,198 shares of the stock were exchanged, compared to its average volume of 220,453. Tyler Technologies has a twelve month low of $361.16 and a twelve month high of $582.38. The business has a 50-day moving average of $497.34 and a two-hundred day moving average of $455.55. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $24.63 billion, a price-to-earnings ratio of 130.92, a PEG ratio of 4.84 and a beta of 0.76.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.06. Tyler Technologies had a return on equity of 9.82% and a net margin of 10.24%. The business had revenue of $540.98 million for the quarter, compared to analyst estimates of $541.01 million. During the same quarter in the prior year, the company earned $1.53 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. On average, equities analysts predict that Tyler Technologies will post 7.1 EPS for the current year.

Insider Transactions at Tyler Technologies

In other news, Director Brenda A. Cline sold 5,000 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the completion of the sale, the director now owns 1,358 shares in the company, valued at $623,091.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Daniel M. Pope sold 520 shares of the firm’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 completion of the sale, the director now owns 3,493 shares in the company, valued at $1,715,691.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Brenda A. Cline sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the completion of the sale, the director now owns 1,358 shares of the company’s stock, valued at approximately $623,091.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,241 shares of company stock worth $12,495,890. Company insiders own 2.20% 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. Vanguard Group Inc. lifted its position in shares of Tyler Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 5,022,053 shares of the technology company’s stock valued at $2,134,423,000 after acquiring an additional 53,005 shares during the period. Principal Financial Group Inc. lifted its position in shares of Tyler Technologies by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,309,715 shares of the technology company’s stock valued at $556,642,000 after acquiring an additional 41,485 shares during the period. Norges Bank acquired a new position in shares of Tyler Technologies during the 4th quarter worth approximately $459,691,000. Franklin Resources Inc. raised its position in shares of Tyler Technologies by 6.7% during the 4th quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock worth $434,987,000 after purchasing an additional 64,889 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Tyler Technologies by 6.3% during the 1st quarter. Van ECK Associates Corp now owns 922,942 shares of the technology company’s stock worth $392,259,000 after purchasing an additional 54,926 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

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.