Tyler Technologies (NYSE:TYL) Price Target Increased to $525.00 by Analysts at DA Davidson

Tyler Technologies (NYSE:TYL) had its price objective boosted by research analysts at DA Davidson from $456.00 to $525.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. DA Davidson’s price target would suggest a potential downside of 9.48% from the stock’s current price.

TYL has been the topic of several other reports. Needham & Company LLC reissued a “buy” rating and issued a $600.00 price objective on shares of Tyler Technologies in a research report on Thursday. Robert W. Baird raised their price target on shares of Tyler Technologies from $500.00 to $525.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Truist Financial reiterated a “buy” rating and issued a $600.00 price objective (up from $560.00) on shares of Tyler Technologies in a research report on Friday. Oppenheimer increased their price target on Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, BTIG Research increased their price target on Tyler Technologies from $515.00 to $550.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $571.38.

Tyler Technologies Trading Up 2.8 %

TYL stock traded up $15.66 during trading on Friday, reaching $580.00. 74,198 shares of the stock traded hands, compared to its average volume of 220,453. The business’s 50 day moving average price is $497.34 and its 200-day moving average price is $455.55. The firm has a market capitalization of $24.63 billion, a PE ratio of 130.92, a P/E/G ratio of 4.84 and a beta of 0.76. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94. Tyler Technologies has a 52-week low of $361.16 and a 52-week high of $582.38.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.34 by $0.06. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.82%. The firm had revenue of $540.98 million for the quarter, compared to analyst estimates of $541.01 million. During the same quarter last year, the firm posted $1.53 earnings per share. Tyler Technologies’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Tyler Technologies will post 7.1 earnings per share for the current year.

Insiders Place Their Bets

In other Tyler Technologies news, Director Daniel M. Pope sold 520 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $491.18, for a total value of $255,413.60. Following the transaction, the director now owns 3,493 shares in the company, valued at approximately $1,715,691.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Daniel M. Pope sold 520 shares of Tyler Technologies stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $491.18, for a total value of $255,413.60. Following the completion of the sale, the director now owns 3,493 shares of the company’s stock, valued at approximately $1,715,691.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $483.21, for a total value of $2,899,260.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $3,374,255.43. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,241 shares of company stock worth $12,495,890. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tyler Technologies

A number of hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Tyler Technologies during the 4th quarter worth about $459,691,000. Swedbank AB acquired a new position in Tyler Technologies in the 2nd quarter valued at approximately $251,390,000. APG Asset Management US Inc. bought a new stake in shares of Tyler Technologies in the 4th quarter worth approximately $57,493,000. Van ECK Associates Corp grew its holdings in shares of Tyler Technologies by 13.1% during the 4th quarter. Van ECK Associates Corp now owns 868,016 shares of the technology company’s stock worth $362,935,000 after purchasing an additional 100,788 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Tyler Technologies by 15.3% in the 1st quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock valued at $226,501,000 after buying an additional 70,801 shares in the last quarter. 93.30% of the stock is currently 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.