Tyler Technologies (NYSE:TYL) Given New $700.00 Price Target at JMP Securities

Tyler Technologies (NYSE:TYL) had its price objective hoisted by JMP Securities from $580.00 to $700.00 in a report published on Friday, Benzinga reports. They currently have a market outperform rating on the technology company’s stock.

A number of other research firms also recently weighed in on TYL. Robert W. Baird raised their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday. Truist Financial restated a “buy” rating and set a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a report on Friday. Oppenheimer upped 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. Barclays raised Tyler Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $577.00 to $700.00 in a research note on Monday, October 7th. Finally, Needham & Company LLC boosted their target price on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $642.62.

Tyler Technologies Stock Down 0.9 %

NYSE:TYL traded down $5.81 during trading hours on Friday, hitting $605.86. 238,251 shares of the company’s stock traded hands, compared to its average volume of 228,208. Tyler Technologies has a twelve month low of $361.16 and a twelve month high of $631.43. The firm has a market cap of $25.85 billion, a P/E ratio of 125.18, a P/E/G ratio of 5.42 and a beta of 0.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. The stock’s fifty day moving average price is $584.88 and its two-hundred day moving average price is $526.68.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.43 by $0.09. The business had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $1.66 earnings per share. On average, research analysts expect that Tyler Technologies will post 7.21 earnings per share for the current fiscal year.

Insider Transactions at Tyler Technologies

In other news, Director Daniel M. Pope sold 275 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $578.26, for a total transaction of $159,021.50. Following the transaction, the director now owns 3,218 shares in the company, valued at approximately $1,860,840.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the sale, the director now directly owns 3,218 shares of the company’s stock, valued at $1,860,840.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian K. Miller sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $567.96, for a total value of $1,135,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at approximately $6,787,122. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,375 shares of company stock worth $17,049,739. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Waldron Private Wealth LLC boosted its stake in shares of Tyler Technologies by 3.5% in the 2nd quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock valued at $360,000 after purchasing an additional 24 shares during the last quarter. Industrial Alliance Investment Management Inc. boosted its stake in Tyler Technologies by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company’s stock valued at $295,000 after acquiring an additional 29 shares during the last quarter. George Kaiser Family Foundation grew its holdings in Tyler Technologies by 0.7% during the 2nd quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock worth $2,100,000 after acquiring an additional 29 shares during the period. UMB Bank n.a. grew its holdings in Tyler Technologies by 2.4% during the 3rd quarter. UMB Bank n.a. now owns 1,354 shares of the technology company’s stock worth $790,000 after acquiring an additional 32 shares during the period. Finally, Torray Investment Partners LLC raised its position in shares of Tyler Technologies by 0.3% during the 2nd quarter. Torray Investment Partners LLC now owns 11,010 shares of the technology company’s stock valued at $5,536,000 after acquiring an additional 33 shares during the last quarter. 93.30% of the stock is owned by institutional investors.

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.