Tyler Technologies (NYSE:TYL) Stock Price Expected to Rise, Piper Sandler Analyst Says

Tyler Technologies (NYSE:TYL) had its target price boosted by equities researchers at Piper Sandler from $701.00 to $747.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s target price points to a potential upside of 16.28% from the company’s previous close.

Several other analysts also recently commented on the stock. Wells Fargo & Company reiterated an “equal weight” rating and issued a $615.00 target price (down previously from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. StockNews.com lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Oppenheimer boosted their target price on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. DA Davidson reaffirmed a “neutral” rating and set a $575.00 price target on shares of Tyler Technologies in a research report on Thursday, January 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $700.00 price objective on shares of Tyler Technologies in a research report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Tyler Technologies has an average rating of “Moderate Buy” and an average target price of $667.83.

Tyler Technologies Price Performance

Shares of NYSE TYL opened at $642.39 on Friday. The stock has a market cap of $27.49 billion, a price-to-earnings ratio of 117.22, a PEG ratio of 4.78 and a beta of 0.78. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. Tyler Technologies has a fifty-two week low of $397.80 and a fifty-two week high of $661.31. The firm’s 50-day simple moving average is $596.21 and its 200 day simple moving average is $594.29.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. As a group, research analysts anticipate that Tyler Technologies will post 7.36 earnings per share for the current fiscal year.

Insider Activity at Tyler Technologies

In other news, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total value of $1,580,025.00. Following the completion of the transaction, the chief financial officer now owns 12,198 shares in the company, valued at $7,709,257.98. This trade represents a 17.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the sale, the insider now owns 6,983 shares in the company, valued at $4,424,079.65. The trade was a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,502 shares of company stock worth $18,941,368. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC boosted its stake in Tyler Technologies by 221.4% in the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after purchasing an additional 31 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Tyler Technologies in the third quarter worth about $27,000. Sierra Ocean LLC bought a new position in shares of Tyler Technologies in the fourth quarter valued at approximately $32,000. Brown Brothers Harriman & Co. grew its stake in Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after acquiring an additional 42 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in Tyler Technologies during the 4th quarter worth approximately $40,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

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.