Barclays Lowers Tyler Technologies (NYSE:TYL) Price Target to $695.00

Tyler Technologies (NYSE:TYL - Get Free Report) had its target price dropped by Barclays from $700.00 to $695.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the technology company's stock. Barclays's price target indicates a potential upside of 33.29% from the stock's current price.

Several other analysts also recently issued reports on the stock. DA Davidson reissued a "neutral" rating and issued a $575.00 price target on shares of Tyler Technologies in a research report on Thursday, January 30th. Needham & Company LLC reiterated a "buy" rating and set a $750.00 price target on shares of Tyler Technologies in a research note on Thursday. The Goldman Sachs Group raised their target price on Tyler Technologies from $660.00 to $728.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Piper Sandler decreased their price target on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a report on Friday. Finally, StockNews.com upgraded Tyler Technologies from a "hold" rating to a "buy" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Tyler Technologies has an average rating of "Moderate Buy" and an average price target of $674.67.

Tyler Technologies Trading Down 0.6 %

NYSE TYL traded down $3.21 during mid-day trading on Friday, reaching $521.43. 483,936 shares of the stock were exchanged, compared to its average volume of 256,597. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The stock has a market cap of $22.48 billion, a P/E ratio of 86.04, a P/E/G ratio of 4.93 and a beta of 0.84. The stock has a 50 day simple moving average of $574.89 and a 200-day simple moving average of $593.48. Tyler Technologies has a one year low of $452.57 and a one year high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The company had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. During the same period last year, the business posted $2.20 EPS. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts anticipate that Tyler Technologies will post 8.52 EPS for the current year.

Insider Activity at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 6,000 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brian K. Miller sold 1,550 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total value of $951,049.00. Following the transaction, the chief financial officer now directly owns 14,026 shares of the company's stock, valued at $8,606,073.08. The trade was a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,064 shares of company stock worth $8,688,030. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tyler Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC grew its position in Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock worth $26,000 after acquiring an additional 31 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Tyler Technologies in the 1st quarter worth about $26,000. Sierra Ocean LLC bought a new position in shares of Tyler Technologies during the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. raised its holdings in shares of Tyler Technologies by 300.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock valued at $32,000 after buying an additional 42 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in Tyler Technologies in the 4th quarter worth approximately $40,000. Hedge funds and other 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.