Tyler Technologies (NYSE:TYL) had its price objective increased by Northland Securities from $350.00 to $400.00 in a report released on Friday, The Fly reports. The firm presently has an “outperform” rating on the technology company’s stock. Northland Securities’ target price points to a potential upside of 11.97% from the company’s current price.
A number of other analysts have also recently issued reports on the company. BTIG Research assumed coverage on Tyler Technologies in a research report on Thursday, April 16th. They issued a “neutral” rating for the company. Piper Sandler reissued an “overweight” rating and set a $423.00 price target on shares of Tyler Technologies in a report on Monday, July 20th. Needham & Company LLC reissued a “buy” rating on shares of Tyler Technologies in a report on Thursday, April 30th. Royal Bank of Canada assumed coverage on Tyler Technologies in a report on Thursday, June 18th. They set an “outperform” rating and a $375.00 price target for the company. Finally, Oppenheimer cut Tyler Technologies from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $335.92.
TYL opened at $357.25 on Friday. Tyler Technologies has a 12-month low of $232.89 and a 12-month high of $382.92. The stock has a market cap of $14.09 billion, a price-to-earnings ratio of 77.49, a PEG ratio of 8.54 and a beta of 0.77. The business has a 50 day moving average of $349.51 and a 200-day moving average of $328.38. The company has a quick ratio of 1.60, a current ratio of 1.77 and a debt-to-equity ratio of 0.01.
Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.18. Tyler Technologies had a return on equity of 10.05% and a net margin of 16.96%. The company had revenue of $271.09 million during the quarter, compared to analysts’ expectations of $279.40 million. During the same period last year, the firm posted $1.30 earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. As a group, analysts expect that Tyler Technologies will post 4.1 earnings per share for the current year.
In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 19,200 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $379.58, for a total transaction of $7,287,936.00. Following the transaction, the chief executive officer now owns 85,111 shares in the company, valued at approximately $32,306,433.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Brenda A. Cline sold 5,000 shares of Tyler Technologies stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $336.09, for a total value of $1,680,450.00. Following the completion of the transaction, the director now owns 8,249 shares in the company, valued at approximately $2,772,406.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 107,311 shares of company stock worth $37,929,019. Corporate insiders own 3.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of TYL. First Republic Investment Management Inc. increased its stake in shares of Tyler Technologies by 4.4% in the 4th quarter. First Republic Investment Management Inc. now owns 957 shares of the technology company’s stock valued at $287,000 after purchasing an additional 40 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Tyler Technologies by 65.1% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,035 shares of the technology company’s stock valued at $221,000 after purchasing an additional 408 shares during the last quarter. Standard Life Aberdeen plc bought a new position in shares of Tyler Technologies in the 4th quarter valued at $662,000. Macquarie Group Ltd. increased its stake in shares of Tyler Technologies by 4.8% in the 4th quarter. Macquarie Group Ltd. now owns 76,402 shares of the technology company’s stock valued at $22,922,000 after purchasing an additional 3,484 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Tyler Technologies in the 4th quarter valued at $126,581,000. Institutional investors own 89.62% of the company’s stock.
Tyler Technologies Company Profile
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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