Piper Sandler Cuts Tyler Technologies (NYSE:TYL) Price Target to $708.00

Tyler Technologies (NYSE:TYL - Get Free Report) had its price objective cut by equities research analysts at Piper Sandler from $747.00 to $708.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the technology company's stock. Piper Sandler's price target suggests a potential upside of 35.17% from the stock's previous close.

Several other analysts also recently commented on the stock. Barclays dropped their target price on shares of Tyler Technologies from $715.00 to $700.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. StockNews.com raised shares of Tyler Technologies from a "hold" rating to a "buy" rating in a research report on Thursday. Needham & Company LLC reiterated a "buy" rating and set a $750.00 target price on shares of Tyler Technologies in a report on Thursday. Truist Financial restated a "buy" rating and issued a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Finally, DA Davidson reiterated a "neutral" rating and set a $575.00 price objective on shares of Tyler Technologies in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Tyler Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $674.67.

Tyler Technologies Trading Down 1.3 %

Shares of TYL stock traded down $6.70 on Friday, reaching $523.80. The company had a trading volume of 543,886 shares, compared to its average volume of 255,684. The company has a 50-day moving average of $577.35 and a 200-day moving average of $593.99. Tyler Technologies has a 12 month low of $452.57 and a 12 month high of $661.31. The stock has a market cap of $22.58 billion, a PE ratio of 86.44, a PEG ratio of 4.93 and a beta of 0.84. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.22. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The company had revenue of $562.43 million for the quarter, compared to analyst estimates of $556.45 million. During the same period last year, the business posted $2.20 earnings per share. On average, equities analysts forecast that Tyler Technologies will post 8.52 earnings per share for the current year.

Insider Buying and Selling at Tyler Technologies

In related news, CFO Brian K. Miller sold 1,550 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total value of $951,049.00. Following the completion of the sale, the chief financial officer now directly owns 14,026 shares in the company, valued at approximately $8,606,073.08. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total value of $3,714,000.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,322,477. This trade represents a 46.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,064 shares of company stock worth $8,688,030 over the last quarter. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tyler Technologies

Hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC boosted its holdings in shares of Tyler Technologies by 221.4% during 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. Retirement Wealth Solutions LLC acquired a new stake in Tyler Technologies during the first quarter worth approximately $26,000. Sierra Ocean LLC bought a new stake in shares of Tyler Technologies during the fourth quarter worth approximately $32,000. Brown Brothers Harriman & Co. grew its position 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 last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Tyler Technologies during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 93.30% of the company's stock.

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.