Piper Sandler Reiterates “Overweight” Rating for Tyler Technologies (NYSE:TYL)

Piper Sandler reissued their overweight rating on shares of Tyler Technologies (NYSE:TYL) in a report published on Wednesday, Benzinga reports. They currently have a $520.00 price objective on the technology company’s stock.

TYL has been the subject of a number of other research reports. DA Davidson upped their price objective on Tyler Technologies from $412.00 to $434.00 and gave the stock a neutral rating in a research note on Thursday, February 22nd. Needham & Company LLC upped their price objective on Tyler Technologies from $475.00 to $500.00 and gave the stock a buy rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. upped their price objective on Tyler Technologies from $500.00 to $526.00 and gave the stock an overweight rating in a research note on Thursday, February 15th. Finally, JMP Securities reaffirmed a market outperform rating and issued a $490.00 price objective on shares of Tyler Technologies in a research note on Friday, February 16th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Tyler Technologies presently has an average rating of Moderate Buy and an average price target of $465.85.

Tyler Technologies Stock Performance

NYSE:TYL opened at $460.74 on Wednesday. The stock has a 50-day simple moving average of $423.02 and a two-hundred day simple moving average of $415.30. Tyler Technologies has a 52-week low of $361.16 and a 52-week high of $465.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.94. The firm has a market capitalization of $19.56 billion, a PE ratio of 104.24, a P/E/G ratio of 4.51 and a beta of 0.81.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.06. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. The business had revenue of $480.94 million during the quarter, compared to analyst estimates of $483.34 million. Analysts forecast that Tyler Technologies will post 6.77 EPS for the current year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, Director Glenn A. Carter sold 1,650 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $437.84, for a total transaction of $722,436.00. Following the sale, the director now directly owns 2,011 shares in the company, valued at $880,496.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Tyler Technologies news, Director Glenn A. Carter sold 1,650 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $437.84, for a total transaction of $722,436.00. Following the sale, the director now directly owns 2,011 shares in the company, valued at $880,496.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $427.82, for a total value of $2,780,830.00. Following the sale, the insider now owns 6,400 shares in the company, valued at $2,738,048. The disclosure for this sale can be found here. Insiders have sold a total of 50,608 shares of company stock worth $21,974,819 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Several hedge funds and other institutional investors have recently modified their holdings of TYL. Norges Bank purchased a new stake in shares of Tyler Technologies in the fourth quarter worth approximately $459,691,000. Morgan Stanley raised its holdings in shares of Tyler Technologies by 21.1% in the third quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock worth $392,208,000 after buying an additional 177,242 shares during the period. APG Asset Management US Inc. purchased a new stake in shares of Tyler Technologies in the fourth quarter worth approximately $57,493,000. Van ECK Associates Corp raised its holdings in shares of Tyler Technologies by 13.1% in the fourth quarter. Van ECK Associates Corp now owns 868,016 shares of the technology company’s stock worth $362,935,000 after buying an additional 100,788 shares during the period. Finally, Franklin Resources Inc. grew its stake in Tyler Technologies by 6.7% in the fourth quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock worth $434,987,000 after purchasing an additional 64,889 shares in the last quarter. 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.