Tyler Technologies, Inc. (NYSE:TYL) Stock Has Average Price Target of $440.88

Tyler Technologies, Inc. (NYSE:TYL) has received an average recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $440.88.

A number of research firms recently issued reports on TYL. UBS Group set a $395.00 price objective on shares of Tyler Technologies in a report on Saturday, August 1st. Piper Sandler began coverage on shares of Tyler Technologies in a research report on Monday, September 28th. They issued an “overweight” rating and a $450.00 price objective on the stock. Zacks Research downgraded Tyler Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. DA Davidson reiterated a “buy” rating and issued a $460.00 target price on shares of Tyler Technologies in a research note on Tuesday, October 27th. Finally, TD Cowen upped their price target on shares of Tyler Technologies from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, October 26th.

Insider Buying and Selling at Tyler Technologies

In related news, Director Daniel M. Pope sold 680 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $407.56, for a total value of $277,140.80. Following the completion of the transaction, the director directly owned 2,643 shares of the company’s stock, valued at approximately $1,077,181.08. This represents a 20.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey Puckett sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $419.69, for a total value of $4,196,900.00. Following the completion of the sale, the chief operating officer directly owned 7,800 shares of the company’s stock, valued at $3,273,582. This trade represents a 56.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 38,430 shares of company stock valued at $14,883,788. 1.10% of the stock is owned by company insiders.

Institutional Trading of Tyler Technologies

Several hedge funds have recently made changes to their positions in TYL. BlackRock Inc. acquired a new stake in Tyler Technologies in the second quarter valued at $1,129,890,000. Principal Financial Group Inc. raised its position in shares of Tyler Technologies by 20.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,745,625 shares of the technology company’s stock worth $597,681,000 after purchasing an additional 291,564 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Tyler Technologies by 10.5% during the 1st quarter. Bank of America Corp DE now owns 405,095 shares of the technology company’s stock worth $138,696,000 after purchasing an additional 38,508 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Tyler Technologies by 13.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 400,775 shares of the technology company’s stock valued at $117,211,000 after acquiring an additional 48,832 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in Tyler Technologies during the second quarter worth approximately $88,645,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Trading Down 0.6%

TYL opened at $417.96 on Friday. The stock has a market cap of $16.62 billion, a PE ratio of 44.74, a PEG ratio of 2.79 and a beta of 0.74. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. Tyler Technologies has a 52 week low of $270.71 and a 52 week high of $481.57. The business has a 50 day moving average of $358.74 and a 200-day moving average of $336.79.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 28th. The technology company reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.04. The firm had revenue of $647.57 million during the quarter, compared to analyst estimates of $651.38 million. Tyler Technologies had a net margin of 13.51% and a return on equity of 12.21%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the business earned $2.91 earnings per share. Equities research analysts predict that Tyler Technologies will post 10.11 earnings per share for the current fiscal year.

Tyler Technologies Company Profile

Tyler Technologies provides software and technology services primarily to public-sector organizations. Its customers include state and local governments, courts, public safety agencies, schools, and other public entities.

The company’s offerings include software for financial management, tax and property appraisal, courts and justice, public safety, education, utility billing, and permitting. Tyler also provides digital services such as online payments and tools for public access to government information.

Founded in 1966 and headquartered in Plano, Texas, Tyler Technologies serves customers mainly in the United States, with operations and customers in other markets as well.