Tyler Technologies’ (TYL) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Tyler Technologies (NYSE:TYL) in a research report released on Tuesday morning,Benzinga reports. They currently have a $700.00 price target on the technology company’s stock.

A number of other analysts have also recently weighed in on TYL. Robert W. Baird upped their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Oppenheimer upped their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. JMP Securities boosted their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a report on Friday, October 25th. Barclays boosted their price objective on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $643.77.

Tyler Technologies Stock Up 1.2 %

Shares of Tyler Technologies stock opened at $593.28 on Tuesday. The company has a fifty day moving average price of $598.42 and a 200 day moving average price of $585.06. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies has a twelve month low of $397.80 and a twelve month high of $638.56. The stock has a market cap of $25.39 billion, a price-to-earnings ratio of 108.26, a price-to-earnings-growth ratio of 4.54 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results 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. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. During the same period in the prior year, the company earned $1.66 EPS. The firm’s revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that Tyler Technologies will post 7.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $602.72, for a total value of $1,808,160.00. Following the completion of the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at $7,202,504. This trade represents a 20.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the completion of the transaction, the insider now owns 6,983 shares of the company’s stock, valued at $4,424,079.65. This trade represents a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,252 shares of company stock worth $26,096,928. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new stake in Tyler Technologies during the third quarter valued at approximately $27,000. Tobam acquired a new stake in Tyler Technologies during the third quarter valued at approximately $78,000. Quarry LP acquired a new stake in Tyler Technologies during the third quarter valued at approximately $78,000. MassMutual Private Wealth & Trust FSB lifted its stake in Tyler Technologies by 18.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock valued at $78,000 after purchasing an additional 21 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Tyler Technologies during the third quarter valued at approximately $79,000. 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.