Wells Fargo & Company Cuts Tyler Technologies (NYSE:TYL) Price Target to $420.00

Tyler Technologies (NYSE:TYL) had its price objective reduced by Wells Fargo & Company from $470.00 to $420.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

TYL has been the subject of several other reports. Oppenheimer lowered their price objective on Tyler Technologies from $600.00 to $510.00 and set an “outperform” rating for the company in a report on Friday, January 23rd. DA Davidson reiterated a “neutral” rating and issued a $510.00 target price on shares of Tyler Technologies in a research report on Tuesday. Stifel Nicolaus assumed coverage on Tyler Technologies in a report on Wednesday, January 7th. They issued a “buy” rating and a $550.00 price target for the company. Robert W. Baird set a $660.00 price objective on Tyler Technologies in a research note on Friday, October 31st. Finally, Piper Sandler decreased their price objective on shares of Tyler Technologies from $708.00 to $671.00 and set an “overweight” rating for the company in a report on Tuesday, January 13th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $607.57.

Tyler Technologies Price Performance

NYSE TYL opened at $348.49 on Wednesday. The company has a market capitalization of $15.00 billion, a price-to-earnings ratio of 48.47, a price-to-earnings-growth ratio of 2.30 and a beta of 0.91. Tyler Technologies has a 12 month low of $320.23 and a 12 month high of $661.31. The company’s fifty day moving average price is $436.77 and its two-hundred day moving average price is $494.51.

Insider Buying and Selling at Tyler Technologies

In other news, Director Glenn A. Carter sold 500 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $458.73, for a total transaction of $229,365.00. Following the completion of the transaction, the director owned 3,172 shares in the company, valued at approximately $1,455,091.56. This represents a 13.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 1,000 shares of Tyler Technologies stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $448.51, for a total transaction of $448,510.00. Following the completion of the sale, the chief financial officer owned 17,148 shares in the company, valued at approximately $7,691,049.48. This represents a 5.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,500 shares of company stock worth $1,605,605 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tyler Technologies

Several large investors have recently made changes to their positions in the company. Lazard Freres Gestion S.A.S. lifted its stake in Tyler Technologies by 150.0% during the third quarter. Lazard Freres Gestion S.A.S. now owns 5,000 shares of the technology company’s stock valued at $2,615,000 after buying an additional 3,000 shares in the last quarter. General American Investors Co. Inc. raised its holdings in shares of Tyler Technologies by 7.2% during the third quarter. General American Investors Co. Inc. now owns 44,381 shares of the technology company’s stock valued at $23,218,000 after acquiring an additional 3,000 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Tyler Technologies by 11.4% during the third quarter. Principal Financial Group Inc. now owns 1,410,640 shares of the technology company’s stock valued at $738,010,000 after acquiring an additional 144,612 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in shares of Tyler Technologies in the 3rd quarter valued at approximately $1,749,000. Finally, ProShare Advisors LLC boosted its stake in Tyler Technologies by 7.8% in the 2nd quarter. ProShare Advisors LLC now owns 11,511 shares of the technology company’s stock worth $6,824,000 after purchasing an additional 834 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Company Profile

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.