Barclays Issues Positive Forecast for Tyler Technologies (NYSE:TYL) Stock Price

Tyler Technologies (NYSE:TYL - Free Report) had its price objective increased by Barclays from $705.00 to $715.00 in a report published on Friday,Benzinga reports. The firm currently has an overweight rating on the technology company's stock.

Several other analysts have also recently commented on the stock. Oppenheimer boosted their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Needham & Company LLC reiterated a "buy" rating and issued a $700.00 target price on shares of Tyler Technologies in a research report on Tuesday, January 21st. JMP Securities raised their price target on Tyler Technologies from $580.00 to $700.00 and gave the company a "market outperform" rating in a report on Friday, October 25th. DA Davidson reaffirmed a "neutral" rating and set a $575.00 price objective on shares of Tyler Technologies in a report on Thursday, January 30th. Finally, Truist Financial reiterated a "buy" rating and set a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Tyler Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $676.25.

Tyler Technologies Price Performance

Shares of NYSE:TYL traded down $1.57 during trading on Friday, hitting $640.13. 355,684 shares of the company's stock were exchanged, compared to its average volume of 247,270. The business's 50-day simple moving average is $596.62 and its 200 day simple moving average is $594.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. Tyler Technologies has a 52-week low of $397.80 and a 52-week high of $661.31. The company has a market cap of $27.40 billion, a price-to-earnings ratio of 116.81, a PEG ratio of 4.78 and a beta of 0.78.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) 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, equities analysts predict that Tyler Technologies will post 7.36 EPS for the current year.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 6,752 shares of the firm's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $613.75, for a total value of $4,144,040.00. Following the completion of the sale, the chief financial officer now owns 11,918 shares of the company's stock, valued at $7,314,672.50. This trade represents a 36.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 3,250 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $631.41, for a total value of $2,052,082.50. Following the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $47,355,750. This represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,502 shares of company stock worth $18,941,368. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Tyler Technologies

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