Tyler Technologies, Inc. (NYSE:TYL) Receives $642.62 Consensus Target Price from Analysts

Shares of Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the fourteen brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $642.62.

TYL has been the topic of a number of research reports. Barclays upped their price target on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $627.00 target price on shares of Tyler Technologies in a research report on Friday, September 13th. Piper Sandler lifted their price target on Tyler Technologies from $625.00 to $701.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. DA Davidson upped their price objective on Tyler Technologies from $525.00 to $550.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Finally, Oppenheimer lifted their target price on Tyler Technologies from $625.00 to $700.00 and gave the stock an "outperform" rating in a report on Friday, October 25th.

Tyler Technologies Price Performance

Shares of NYSE:TYL traded down $7.58 during midday trading on Friday, reaching $623.15. The company's stock had a trading volume of 196,958 shares, compared to its average volume of 286,578. 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 fifty-two week low of $397.80 and a fifty-two week high of $638.56. The business's fifty day simple moving average is $604.80 and its 200-day simple moving average is $561.56. The company has a market capitalization of $26.67 billion, a P/E ratio of 113.71, a P/E/G ratio of 5.76 and a beta of 0.76.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The business had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. During the same quarter last year, the firm posted $1.66 EPS. The company's quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts expect that Tyler Technologies will post 7.36 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 6,983 shares of the company's stock, valued at $4,424,079.65. This represents a 46.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian K. Miller sold 2,500 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now owns 12,198 shares in the company, valued at $7,709,257.98. This represents a 17.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,500 shares of company stock valued at $27,790,888. Corporate insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On Tyler Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of TYL. APG Asset Management N.V. raised its stake in shares of Tyler Technologies by 1.4% during the second quarter. APG Asset Management N.V. now owns 1,507,062 shares of the technology company's stock valued at $706,994,000 after acquiring an additional 20,842 shares during the last quarter. Geode Capital Management LLC increased its holdings in Tyler Technologies by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company's stock valued at $645,585,000 after purchasing an additional 24,284 shares during the period. Franklin Resources Inc. raised its position in Tyler Technologies by 2.0% during the 3rd quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company's stock worth $547,354,000 after purchasing an additional 17,943 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Tyler Technologies by 4.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company's stock valued at $527,785,000 after buying an additional 36,066 shares during the period. Finally, Swedbank AB bought a new position in shares of Tyler Technologies during the second quarter worth about $251,390,000. 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.