Tyler Technologies’ (TYL) Equal Weight Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company reissued their equal weight rating on shares of Tyler Technologies (NYSE:TYL) in a report published on Tuesday morning, Marketbeat reports. Wells Fargo & Company currently has a $615.00 price objective on the technology company’s stock, down from their previous price objective of $670.00.

TYL has been the topic of a number of other reports. Oppenheimer upped their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Barclays raised their target price on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. The Goldman Sachs Group reissued a “buy” rating and set a $627.00 price target on shares of Tyler Technologies in a research note on Friday, September 13th. JMP Securities lifted their price objective on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC increased their target price on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $643.77.

Tyler Technologies Price Performance

Shares of NYSE TYL opened at $574.49 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average price is $606.08 and its 200 day moving average price is $580.03. Tyler Technologies has a 52 week low of $397.80 and a 52 week high of $638.56. The stock has a market cap of $24.59 billion, a price-to-earnings ratio of 104.83, a PEG ratio of 5.54 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The business had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the company posted $1.66 EPS. As a group, research analysts forecast that Tyler Technologies will post 7.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $45,436,500. The trade was a 7.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 6,752 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $613.75, for a total value of $4,144,040.00. Following the sale, the chief financial officer now owns 11,918 shares of the company’s stock, valued at $7,314,672.50. This represents a 36.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,252 shares of company stock worth $26,096,928 over the last quarter. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Tyler Technologies

Hedge funds have recently made changes to their positions in the stock. Diversified Trust Co acquired a new position in Tyler Technologies during the 4th quarter worth $596,000. Nordea Investment Management AB increased its holdings in Tyler Technologies by 4.1% in the fourth quarter. Nordea Investment Management AB now owns 3,796 shares of the technology company’s stock valued at $2,192,000 after buying an additional 148 shares during the last quarter. GAMMA Investing LLC raised its stake in Tyler Technologies by 36.8% during the fourth quarter. GAMMA Investing LLC now owns 1,520 shares of the technology company’s stock valued at $876,000 after buying an additional 409 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Tyler Technologies by 148.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after buying an additional 275,511 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Tyler Technologies by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock worth $547,354,000 after acquiring an additional 17,943 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

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.