DA Davidson Increases Tyler Technologies (NYSE:TYL) Price Target to $550.00

Tyler Technologies (NYSE:TYL) had its target price raised by equities research analysts at DA Davidson from $525.00 to $550.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. DA Davidson’s price target points to a potential downside of 6.53% from the company’s current price.

A number of other brokerages have also commented on TYL. Barclays upgraded Tyler Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $577.00 to $700.00 in a research report on Monday, October 7th. Wells Fargo & Company lifted their price objective on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. The Goldman Sachs Group reissued a “buy” rating and set a $627.00 price objective on shares of Tyler Technologies in a report on Friday, September 13th. Oppenheimer raised their target price on shares of Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Evercore ISI raised shares of Tyler Technologies to a “hold” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $593.69.

Tyler Technologies Stock Performance

Shares of NYSE:TYL opened at $588.43 on Thursday. The business has a fifty day moving average of $583.57 and a 200-day moving average of $520.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. Tyler Technologies has a twelve month low of $361.16 and a twelve month high of $606.93. The firm has a market cap of $25.11 billion, a PE ratio of 121.58, a price-to-earnings-growth ratio of 5.55 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 earnings per share 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 9.66%. The firm had revenue of $540.98 million during the quarter, compared to analysts’ expectations of $541.01 million. During the same quarter last year, the company posted $1.53 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts predict that Tyler Technologies will post 7.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $590.98, for a total transaction of $2,954,900.00. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $44,323,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total value of $2,954,900.00. Following the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $44,323,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the completion of the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $43,236,750. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,375 shares of company stock worth $17,049,739. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Tyler Technologies

A number of institutional investors have recently modified their holdings of TYL. American International Group Inc. raised its position in Tyler Technologies by 2.0% in the 4th quarter. American International Group Inc. now owns 12,875 shares of the technology company’s stock valued at $5,383,000 after buying an additional 254 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Tyler Technologies by 1.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,370 shares of the technology company’s stock worth $3,082,000 after purchasing an additional 112 shares in the last quarter. Nomura Holdings Inc. acquired a new position in Tyler Technologies during the fourth quarter worth $355,000. Kapitalo Investimentos Ltda bought a new position in Tyler Technologies in the fourth quarter valued at $26,000. Finally, GAMMA Investing LLC increased its stake in Tyler Technologies by 22.7% in the 1st quarter. GAMMA Investing LLC now owns 568 shares of the technology company’s stock valued at $241,000 after buying an additional 105 shares during 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.