Tyler Technologies, Inc. (NYSE:TYL) Receives $593.69 Consensus PT from Analysts

Shares of Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) have received an average rating of "Moderate Buy" from the fourteen brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $593.69.

Several research firms recently weighed in on TYL. Barclays raised Tyler Technologies from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $577.00 to $700.00 in a report on Monday, October 7th. Oppenheimer boosted their target price on shares of Tyler Technologies from $550.00 to $625.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. Truist Financial reiterated a "buy" rating and issued a $600.00 price objective (up previously from $560.00) on shares of Tyler Technologies in a research note on Friday, July 26th. Needham & Company LLC restated a "buy" rating and set a $600.00 target price on shares of Tyler Technologies in a research report on Thursday, July 25th. Finally, Piper Sandler raised their target price on shares of Tyler Technologies from $529.00 to $625.00 and gave the stock an "overweight" rating in a report on Friday, July 26th.

Tyler Technologies Stock Performance

Shares of TYL traded up $0.20 during trading hours on Friday, hitting $588.43. The company had a trading volume of 179,721 shares, compared to its average volume of 225,870. The business has a fifty day moving average of $583.57 and a 200-day moving average of $520.46. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. The firm has a market cap of $25.11 billion, a price-to-earnings ratio of 121.58, a PEG ratio of 5.55 and a beta of 0.78. Tyler Technologies has a 12 month low of $361.16 and a 12 month high of $606.93.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.06. The firm had revenue of $540.98 million for the quarter, compared to analysts' expectations of $541.01 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The business's revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.53 EPS. Equities analysts anticipate that Tyler Technologies will post 7.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $576.62, for a total value of $2,883,100.00. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $43,246,500. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the completion of the transaction, the chief executive officer now owns 75,000 shares of the company's stock, valued at approximately $43,236,750. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $576.62, for a total value of $2,883,100.00. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company's stock, valued at approximately $43,246,500. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,375 shares of company stock worth $17,049,739 over the last three months. Insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Tyler Technologies

Several institutional investors and hedge funds have recently made changes to their positions in TYL. Independence Bank of Kentucky bought a new stake in Tyler Technologies in the second quarter valued at approximately $25,000. Kapitalo Investimentos Ltda acquired a new position in shares of Tyler Technologies in the 4th quarter worth approximately $26,000. Covestor Ltd boosted its stake in shares of Tyler Technologies by 153.6% in the 1st quarter. Covestor Ltd now owns 71 shares of the technology company's stock valued at $30,000 after purchasing an additional 43 shares during the last quarter. Blue Trust Inc. increased its position in shares of Tyler Technologies by 329.4% during the second quarter. Blue Trust Inc. now owns 73 shares of the technology company's stock worth $37,000 after buying an additional 56 shares during the period. Finally, Lynx Investment Advisory bought a new position in Tyler Technologies during the second quarter worth $38,000. Institutional investors and hedge funds own 93.30% of the company's stock.

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.