Piper Sandler Issues Positive Forecast for Tyler Technologies (NYSE:TYL) Stock Price

Tyler Technologies (NYSE:TYL) had its price target upped by Piper Sandler from $701.00 to $747.00 in a report issued on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the technology company’s stock.

A number of other brokerages have also commented on TYL. JMP Securities lifted their price target on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research note on Friday, October 25th. Barclays lifted 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. Truist Financial restated a “buy” rating and issued a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Finally, StockNews.com cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $656.92.

Tyler Technologies Price Performance

TYL stock opened at $642.39 on Friday. The stock has a market cap of $27.49 billion, a price-to-earnings ratio of 117.22, a P/E/G ratio of 4.78 and a beta of 0.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The company has a 50 day simple moving average of $596.21 and a 200 day simple moving average of $594.15. Tyler Technologies has a 1 year low of $397.80 and a 1 year high of $661.31.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. Research analysts anticipate that Tyler Technologies will post 7.36 EPS for the current fiscal year.

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 3,250 shares of Tyler Technologies stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $631.41, for a total value of $2,052,082.50. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at $47,355,750. The trade was a 4.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,424,079.65. This represents a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock valued at $18,941,368 in the last ninety days. 2.20% of the stock is owned by company insiders.

Institutional Trading of Tyler Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TYL. Larson Financial Group LLC boosted its holdings in Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after acquiring an additional 31 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Tyler Technologies in the 3rd quarter worth $27,000. Sierra Ocean LLC bought a new position in shares of Tyler Technologies in the 4th quarter worth $32,000. Brown Brothers Harriman & Co. grew its position in Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after purchasing an additional 42 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new stake in Tyler Technologies during the 4th quarter valued at $40,000. 93.30% of the stock is 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.