Tyler Technologies’ (TYL) Buy Rating Reiterated at Truist Financial

Tyler Technologies (NYSE:TYL)‘s stock had its “buy” rating restated by equities researchers at Truist Financial in a report issued on Friday, Benzinga reports. They presently have a $685.00 target price on the technology company’s stock, up from their prior target price of $600.00. Truist Financial’s price target would indicate a potential upside of 13.06% from the company’s current price.

Other analysts have also recently issued reports about the company. Wells Fargo & Company upped their price objective on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Needham & Company LLC upped their price target on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group reissued a “buy” rating and issued a $627.00 price objective on shares of Tyler Technologies in a research note on Friday, September 13th. Oppenheimer boosted their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Piper Sandler increased their price target on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Tyler Technologies currently has an average rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Stock Performance

TYL opened at $605.86 on Friday. The company has a 50 day simple moving average of $584.88 and a two-hundred day simple moving average of $527.40. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $25.72 billion, a P/E ratio of 137.07, a PEG ratio of 5.42 and a beta of 0.78. Tyler Technologies has a 1-year low of $361.16 and a 1-year high of $631.43.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The company had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. During the same quarter last year, the company earned $1.66 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Equities analysts forecast that Tyler Technologies will post 7.21 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $590.98, for a total transaction of $2,954,900.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $44,323,500. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total value of $2,954,900.00. Following the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $44,323,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Glenn A. Carter sold 3,350 shares of Tyler Technologies stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $582.57, for a total transaction of $1,951,609.50. Following the sale, the director now owns 2,654 shares of the company’s stock, valued at $1,546,140.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,375 shares of company stock valued at $17,049,739. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Waldron Private Wealth LLC raised its position in Tyler Technologies by 3.5% during 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 in the last quarter. Industrial Alliance Investment Management Inc. raised its holdings in shares of 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 in the last quarter. George Kaiser Family Foundation lifted its stake in Tyler Technologies by 0.7% in the second 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 in the last quarter. Finally, Torray Investment Partners LLC increased its position in 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 purchasing an additional 33 shares during the period. Institutional investors own 93.30% of the company’s stock.

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.