Tyler Technologies (NYSE:TYL) Price Target Cut to $610.00 by Analysts at Wells Fargo & Company

Tyler Technologies (NYSE:TYL - Get Free Report) had its price target reduced by stock analysts at Wells Fargo & Company from $640.00 to $610.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the technology company's stock. Wells Fargo & Company's price target points to a potential upside of 9.64% from the stock's previous close.

A number of other brokerages have also issued reports on TYL. StockNews.com lowered shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Truist Financial reaffirmed a "buy" rating and set a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $700.00 target price on shares of Tyler Technologies in a research report on Tuesday, January 21st. DA Davidson restated a "neutral" rating and issued a $575.00 price objective on shares of Tyler Technologies in a report on Thursday, January 30th. Finally, Barclays cut their price target 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. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $674.58.

Tyler Technologies Trading Down 2.4 %

NYSE:TYL opened at $556.36 on Tuesday. The company has a market capitalization of $23.98 billion, a PE ratio of 91.81, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. Tyler Technologies has a 52-week low of $403.65 and a 52-week high of $661.31. The stock has a fifty day simple moving average of $585.02 and a 200-day simple moving average of $595.13. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing the consensus estimate 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 expect that Tyler Technologies will post 8.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the sale, the chief executive officer now directly owns 75,734 shares in the company, valued at approximately $46,772,561.06. This represents a 7.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 6,983 shares in the company, valued at $4,322,477. This represents a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,064 shares of company stock valued at $8,688,030. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TYL. Larson Financial Group LLC boosted its holdings in shares of Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock valued at $26,000 after acquiring an additional 31 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Tyler Technologies in the first quarter worth about $26,000. Sierra Ocean LLC acquired a new stake in shares of Tyler Technologies during the fourth quarter valued at approximately $32,000. Brown Brothers Harriman & Co. boosted its stake in Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock worth $32,000 after purchasing an additional 42 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new stake in Tyler Technologies during the 4th quarter valued at $40,000. Institutional investors 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.

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