Tyler Technologies (NYSE:TYL) Rating Reiterated by Piper Sandler

Tyler Technologies (NYSE:TYL)‘s stock had its “overweight” rating reiterated by equities researchers at Piper Sandler in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $520.00 target price on the technology company’s stock. Piper Sandler’s price objective would indicate a potential upside of 24.11% from the stock’s current price.

A number of other research firms have also commented on TYL. Needham & Company LLC upped their price target on Tyler Technologies from $475.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. JMP Securities reissued a “market outperform” rating and issued a $490.00 target price on shares of Tyler Technologies in a research report on Friday, February 16th. JPMorgan Chase & Co. upped their price target 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, DA Davidson upped their price target on Tyler Technologies from $412.00 to $434.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $460.46.

Tyler Technologies Price Performance

Tyler Technologies stock traded up $0.56 during midday trading on Wednesday, hitting $419.00. 308,354 shares of the company’s stock were exchanged, compared to its average volume of 207,239. The stock has a 50-day moving average price of $422.70 and a two-hundred day moving average price of $414.49. Tyler Technologies has a 52-week low of $361.16 and a 52-week high of $454.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $17.78 billion, a P/E ratio of 107.71, a PEG ratio of 4.05 and a beta of 0.81.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. Tyler Technologies had a return on equity of 8.85% and a net margin of 8.50%. The firm had revenue of $480.94 million during the quarter, compared to analysts’ expectations of $483.34 million. On average, equities research analysts forecast that Tyler Technologies will post 6.77 earnings per share for the current year.

Insider Activity

In other news, insider John S. Marr, Jr. sold 6,500 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $427.82, for a total transaction of $2,780,830.00. Following the transaction, the insider now directly owns 6,400 shares of the company’s stock, valued at approximately $2,738,048. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider John S. Marr, Jr. sold 6,500 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $427.82, for a total value of $2,780,830.00. Following the transaction, the insider now directly owns 6,400 shares of the company’s stock, valued at approximately $2,738,048. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Glenn A. Carter sold 1,650 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $437.84, for a total value of $722,436.00. Following the completion of the transaction, the director now directly owns 2,011 shares in the company, valued at $880,496.24. The disclosure for this sale can be found here. Insiders have sold 50,608 shares of company stock valued at $21,974,819 in the last ninety days. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tyler Technologies

A number of institutional investors have recently bought and sold shares of the stock. CWM LLC raised its holdings in Tyler Technologies by 18.0% during the third quarter. CWM LLC now owns 517 shares of the technology company’s stock valued at $200,000 after acquiring an additional 79 shares during the period. AE Wealth Management LLC raised its holdings in Tyler Technologies by 23.3% during the third quarter. AE Wealth Management LLC now owns 4,518 shares of the technology company’s stock valued at $1,745,000 after acquiring an additional 854 shares during the period. SG Americas Securities LLC raised its holdings in Tyler Technologies by 3.3% during the third quarter. SG Americas Securities LLC now owns 3,553 shares of the technology company’s stock valued at $1,372,000 after acquiring an additional 114 shares during the period. Czech National Bank grew its position in shares of Tyler Technologies by 48.2% during the third quarter. Czech National Bank now owns 7,354 shares of the technology company’s stock valued at $2,840,000 after purchasing an additional 2,391 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in shares of Tyler Technologies by 16.9% during the third quarter. Handelsbanken Fonder AB now owns 172,071 shares of the technology company’s stock valued at $66,443,000 after purchasing an additional 24,920 shares in the last quarter. 93.30% of the stock is owned by institutional investors.

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.