Tyler Technologies (NYSE:TYL) Given New $747.00 Price Target at Piper Sandler

Tyler Technologies (NYSE:TYL - Get Free Report) had its price target raised by Piper Sandler from $701.00 to $747.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the technology company's stock. Piper Sandler's target price indicates a potential upside of 16.69% from the company's previous close.

Other analysts have also recently issued research reports about the stock. StockNews.com cut shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Friday, December 6th. Needham & Company LLC reiterated a "buy" rating and issued a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. Oppenheimer increased their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Barclays increased their price objective on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Finally, DA Davidson reissued a "neutral" rating and issued a $575.00 price objective on shares of Tyler Technologies in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $676.25.

Tyler Technologies Stock Performance

TYL stock traded down $1.57 during trading hours on Friday, reaching $640.13. The stock had a trading volume of 355,684 shares, compared to its average volume of 247,270. The stock has a market capitalization of $27.40 billion, a PE ratio of 116.81, a price-to-earnings-growth ratio of 4.78 and a beta of 0.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a 50-day simple moving average of $596.62 and a 200 day simple moving average of $594.99. Tyler Technologies has a fifty-two week low of $397.80 and a fifty-two week high of $661.31.

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

Insider Buying and Selling

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total value of $3,801,300.00. Following the transaction, the insider now directly owns 6,983 shares of the company's stock, valued at $4,424,079.65. This trade represents a 46.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $4,144,040.00. Following the completion of the transaction, the chief financial officer now directly owns 11,918 shares in the company, valued at approximately $7,314,672.50. This represents a 36.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,502 shares of company stock valued at $18,941,368. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tyler Technologies

Hedge funds have recently bought and sold shares of the company. Oak Thistle LLC increased its holdings in Tyler Technologies by 213.7% in the 4th quarter. Oak Thistle LLC now owns 2,328 shares of the technology company's stock valued at $1,342,000 after buying an additional 1,586 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Tyler Technologies in the 3rd quarter valued at approximately $1,309,000. Maiden Cove Capital LLC acquired a new stake in shares of Tyler Technologies in the 3rd quarter valued at approximately $583,000. Assetmark Inc. boosted its stake in shares of Tyler Technologies by 9.4% in the 3rd quarter. Assetmark Inc. now owns 9,910 shares of the technology company's stock valued at $5,785,000 after purchasing an additional 854 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Tyler Technologies in the 3rd quarter valued at approximately $569,000. 93.30% of the stock is owned by 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.