Tyler Technologies (NYSE:TYL) Earns Equal Weight Rating from Wells Fargo & Company

Tyler Technologies (NYSE:TYL - Get Free Report)'s stock had its "equal weight" rating reiterated by investment analysts at Wells Fargo & Company in a research report issued on Tuesday, Marketbeat Ratings reports. They currently have a $615.00 price objective on the technology company's stock, down from their prior price objective of $670.00. Wells Fargo & Company's target price points to a potential upside of 9.19% from the company's current price.

A number of other analysts also recently issued reports on TYL. JMP Securities raised their target price on Tyler Technologies from $580.00 to $700.00 and gave the stock a "market outperform" rating in a research report on Friday, October 25th. Robert W. Baird lifted their price objective on Tyler Technologies from $625.00 to $700.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. DA Davidson upped their price objective on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Needham & Company LLC lifted their target price on shares of Tyler Technologies from $600.00 to $700.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group restated a "buy" rating and set a $627.00 price target on shares of Tyler Technologies in a research note on Friday, September 13th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Tyler Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $643.77.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock traded down $12.59 during trading hours on Tuesday, hitting $563.25. 350,567 shares of the company's stock traded hands, compared to its average volume of 229,714. The stock has a market capitalization of $24.11 billion, a price-to-earnings ratio of 102.78, a PEG ratio of 5.54 and a beta of 0.78. Tyler Technologies has a 12-month low of $397.80 and a 12-month high of $638.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The company has a fifty day simple moving average of $606.89 and a 200-day simple moving average of $580.07.

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

Insider Activity at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 12,000 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the sale, the insider now owns 6,983 shares of the company's stock, valued at approximately $4,285,187.78. This represents a 63.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian K. Miller sold 3,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $7,202,504. This represents a 20.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,252 shares of company stock valued at $26,096,928 over the last three months. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Tyler Technologies

Institutional investors have recently added to or reduced their stakes in the business. Diversified Trust Co purchased a new stake in Tyler Technologies during the 4th quarter valued at about $596,000. Nordea Investment Management AB lifted its position in Tyler Technologies by 4.1% in the fourth quarter. Nordea Investment Management AB now owns 3,796 shares of the technology company's stock valued at $2,192,000 after purchasing an additional 148 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Tyler Technologies by 36.8% during the fourth quarter. GAMMA Investing LLC now owns 1,520 shares of the technology company's stock valued at $876,000 after purchasing an additional 409 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Tyler Technologies by 148.2% in the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company's stock worth $269,369,000 after purchasing an additional 275,511 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Tyler Technologies by 2.0% in the third quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company's stock worth $547,354,000 after buying an additional 17,943 shares during the period. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

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.