Tyler Technologies' (TYL) "Buy" Rating Reaffirmed at Truist Financial

Truist Financial reissued their buy rating on shares of Tyler Technologies (NYSE:TYL - Free Report) in a report released on Friday morning,Benzinga reports. They currently have a $775.00 price objective on the technology company's stock, up from their prior price objective of $685.00.

Other equities analysts have also recently issued reports about the stock. Oppenheimer lifted their price target 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. Needham & Company LLC reiterated a "buy" rating and set a $700.00 price objective on shares of Tyler Technologies in a report on Tuesday, January 21st. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Barclays lifted their price objective on Tyler Technologies from $705.00 to $715.00 and gave the company an "overweight" rating in a report on Friday. Finally, JMP Securities boosted their price target on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a "market outperform" rating in a report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $676.25.

Tyler Technologies Price Performance

Shares of TYL stock traded down $1.57 during mid-day trading on Friday, hitting $640.13. The company had a trading volume of 355,684 shares, compared to its average volume of 247,270. The company has a market capitalization of $27.40 billion, a P/E ratio of 116.81, a P/E/G ratio of 4.78 and a beta of 0.78. The stock's 50 day moving average price is $596.62 and its 200-day moving average price is $594.99. Tyler Technologies has a 52-week low of $397.80 and a 52-week high of $661.31. 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 (NYSE:TYL - Get Free Report) last released its quarterly earnings data 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 11.39% and a return on equity of 9.79%. Equities research analysts forecast that Tyler Technologies will post 7.36 earnings per share for the current year.

Insider Activity

In related news, insider John S. Marr, Jr. sold 12,000 shares of the business's stock in a transaction dated 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 transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,285,187.78. The trade was a 63.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 6,752 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the completion of the transaction, the chief financial officer now directly owns 11,918 shares in the company, valued at $7,314,672.50. This trade represents a 36.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $18,941,368 over the last three months. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Tyler Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its holdings in 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 purchasing an additional 31 shares during the period. Ashton Thomas Securities LLC purchased a new position in Tyler Technologies in the third quarter worth approximately $27,000. Sierra Ocean LLC purchased a new position in Tyler Technologies in the fourth quarter worth approximately $32,000. Brown Brothers Harriman & Co. grew its holdings in Tyler Technologies by 300.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock worth $32,000 after acquiring an additional 42 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Tyler Technologies in the 4th quarter valued at approximately $40,000. 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.