Tyler Technologies (NYSE:TYL) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Tyler Technologies (NYSE:TYL - Free Report) had its price objective lifted by The Goldman Sachs Group from $660.00 to $728.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the technology company's stock.

Several other brokerages have also weighed in on TYL. Oppenheimer increased their target price 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. Truist Financial reaffirmed a "buy" rating and issued a $775.00 target price (up previously from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. StockNews.com raised shares of Tyler Technologies from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Piper Sandler raised their target price on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Finally, Wells Fargo & Company reaffirmed 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. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company 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 $16.56 during mid-day trading on Tuesday, reaching $628.12. The company's stock had a trading volume of 249,171 shares, compared to its average volume of 245,045. The stock has a 50-day moving average of $597.45 and a two-hundred day moving average of $596.01. The stock has a market capitalization of $26.88 billion, a P/E ratio of 103.65, a P/E/G ratio of 5.01 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 1.35. Tyler Technologies has a 1-year low of $397.80 and a 1-year high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its 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 12.30% and a return on equity of 10.15%. On average, equities research analysts anticipate that Tyler Technologies will post 8.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tyler Technologies news, insider John S. Marr, Jr. sold 12,000 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the sale, the insider now owns 6,983 shares of the company's stock, valued at approximately $4,285,187.78. This trade represents a 63.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the completion of the transaction, the chief financial officer now directly owns 12,198 shares in the company, valued at $7,709,257.98. The trade was a 17.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,502 shares of company stock valued at $18,941,368. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tyler Technologies

A number of institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC increased its holdings in shares of Tyler Technologies by 2.3% in the 4th quarter. Integrated Wealth Concepts LLC now owns 786 shares of the technology company's stock valued at $453,000 after acquiring an additional 18 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of Tyler Technologies by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company's stock valued at $2,115,000 after acquiring an additional 20 shares during the period. Kensington Investment Counsel LLC increased its holdings in shares of Tyler Technologies by 0.8% in the 4th quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company's stock valued at $1,439,000 after acquiring an additional 20 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Tyler Technologies by 18.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company's stock valued at $78,000 after acquiring an additional 21 shares during the period. Finally, Baron Wealth Management LLC increased its holdings in shares of Tyler Technologies by 1.5% in the 4th quarter. Baron Wealth Management LLC now owns 1,487 shares of the technology company's stock valued at $857,000 after acquiring an additional 22 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

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.