Tyler Technologies, Inc. (NYSE:TYL) Receives $676.25 Consensus Target Price from Brokerages

Shares of Tyler Technologies, Inc. (NYSE:TYL) have earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $676.25.

Several equities research analysts recently commented on TYL shares. Barclays boosted their price objective on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. StockNews.com cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a report on Monday. The Goldman Sachs Group lifted their target price on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $615.00 target price (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $575.00 target price on shares of Tyler Technologies in a report on Thursday, January 30th.

Tyler Technologies Trading Up 0.2 %

NYSE:TYL opened at $616.80 on Thursday. Tyler Technologies has a one year low of $397.80 and a one year high of $661.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The company’s 50-day simple moving average is $598.17 and its 200 day simple moving average is $597.36. The firm has a market capitalization of $26.53 billion, a P/E ratio of 101.78, a PEG ratio of 4.93 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. As a group, analysts forecast that Tyler Technologies will post 8.52 EPS for the current fiscal year.

Insider Activity

In other news, insider John S. Marr, Jr. sold 6,000 shares of the business’s 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 directly owns 6,983 shares of the company’s stock, valued at $4,424,079.65. The trade was a 46.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the transaction, the chief financial officer now directly owns 12,198 shares of the company’s stock, valued at $7,709,257.98. The trade was a 17.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,252 shares of company stock valued at $9,525,365 over the last three months. Insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Tyler Technologies by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company’s stock valued at $3,062,190,000 after buying an additional 62,420 shares during the period. Geode Capital Management LLC grew its position in Tyler Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company’s stock valued at $654,406,000 after buying an additional 27,826 shares during the period. Franklin Resources Inc. grew its position in Tyler Technologies by 7.9% during the fourth quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company’s stock valued at $567,768,000 after buying an additional 71,869 shares during the period. Massachusetts Financial Services Co. MA grew its position in Tyler Technologies by 3.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 939,373 shares of the technology company’s stock valued at $541,680,000 after buying an additional 35,198 shares during the period. Finally, Norges Bank bought a new stake in Tyler Technologies during the fourth quarter valued at approximately $528,465,000. 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.