Tyler Technologies (NYSE:TYL) Stock Rating Reaffirmed by JMP Securities

Tyler Technologies (NYSE:TYL)‘s stock had its “market outperform” rating reaffirmed by JMP Securities in a report released on Friday, Benzinga reports. They presently have a $490.00 target price on the technology company’s stock. JMP Securities’ price objective points to a potential upside of 5.54% from the company’s current price.

Other research analysts have also issued reports about the stock. Piper Sandler reiterated an “overweight” rating and issued a $520.00 target price on shares of Tyler Technologies in a research report on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $500.00 target price on shares of Tyler Technologies in a research report on Thursday. Oppenheimer upped their target price on shares of Tyler Technologies from $480.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. upped their target price on shares of Tyler Technologies from $500.00 to $526.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Finally, Robert W. Baird upped their target price on shares of Tyler Technologies from $500.00 to $525.00 and gave the stock an “outperform” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $465.85.

Tyler Technologies Stock Performance

Tyler Technologies stock traded up $6.23 during mid-day trading on Friday, reaching $464.30. The company’s stock had a trading volume of 107,309 shares, compared to its average volume of 209,575. Tyler Technologies has a 12-month low of $361.16 and a 12-month high of $465.78. The company has a market capitalization of $19.70 billion, a P/E ratio of 105.12, a PEG ratio of 4.12 and a beta of 0.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s fifty day moving average price is $422.62 and its two-hundred day moving average price is $414.83.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. The firm had revenue of $480.94 million during the quarter, compared to analyst estimates of $483.34 million. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.49%. Sell-side analysts predict that Tyler Technologies will post 6.77 EPS for the current fiscal year.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 10,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $435.98, for a total transaction of $4,359,800.00. Following the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at $32,698,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 7,500 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $435.19, for a total value of $3,263,925.00. Following the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $32,639,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 10,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $435.98, for a total value of $4,359,800.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at $32,698,500. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,608 shares of company stock valued at $21,974,819. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Several hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Tyler Technologies in the fourth quarter worth $459,691,000. Morgan Stanley grew its holdings in Tyler Technologies by 21.1% during the third quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock valued at $392,208,000 after purchasing an additional 177,242 shares during the period. APG Asset Management US Inc. bought a new stake in Tyler Technologies during the fourth quarter valued at about $57,493,000. Van ECK Associates Corp boosted its stake in shares of Tyler Technologies by 13.1% in the fourth quarter. Van ECK Associates Corp now owns 868,016 shares of the technology company’s stock worth $362,935,000 after acquiring an additional 100,788 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Tyler Technologies by 6.7% in the fourth quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock worth $434,987,000 after acquiring an additional 64,889 shares during the period. 93.30% of the stock is owned by institutional investors.

Tyler Technologies Company Profile

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.