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

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

A number of other research analysts have also commented on TYL. Robert W. Baird increased their price objective on Tyler Technologies from $500.00 to $525.00 and gave the company an “outperform” rating in a research report on Friday. Oppenheimer raised their price target on Tyler Technologies from $480.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday. Piper Sandler restated an “overweight” rating and issued a $520.00 price target on shares of Tyler Technologies in a research report on Wednesday. DA Davidson lifted their target price on Tyler Technologies from $412.00 to $434.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Tyler Technologies from $500.00 to $526.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $465.85.

Tyler Technologies Price Performance

Shares of TYL traded up $6.23 during mid-day trading on Friday, reaching $464.30. The company had a trading volume of 107,309 shares, compared to its average volume of 209,575. The company’s 50-day moving average is $422.62 and its 200-day moving average is $414.83. Tyler Technologies has a twelve month low of $361.16 and a twelve month high of $465.78. The company has a market capitalization of $19.70 billion, a P/E ratio of 105.12, a P/E/G ratio of 4.12 and a beta of 0.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.86 and a quick ratio of 0.86.

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

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,500 shares of Tyler Technologies stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $437.49, for a total value of $2,843,685.00. Following the sale, the insider now owns 6,400 shares of the company’s stock, valued at approximately $2,799,936. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Brian K. Miller sold 5,000 shares of Tyler Technologies stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $442.99, for a total value of $2,214,950.00. Following the sale, the chief financial officer now owns 14,610 shares of the company’s stock, valued at $6,472,083.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 6,500 shares of Tyler Technologies stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $437.49, for a total value of $2,843,685.00. Following the completion of the sale, the insider now directly owns 6,400 shares in the company, valued at approximately $2,799,936. The disclosure for this sale can be found here. Insiders have sold 50,608 shares of company stock valued at $21,974,819 in the last 90 days. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Tyler Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of TYL. Tokio Marine Asset Management Co. Ltd. grew its holdings in Tyler Technologies by 7.6% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,205 shares of the technology company’s stock worth $465,000 after purchasing an additional 85 shares during the period. Raymond James Trust N.A. grew its holdings in Tyler Technologies by 4.9% during the fourth quarter. Raymond James Trust N.A. now owns 1,515 shares of the technology company’s stock worth $633,000 after purchasing an additional 71 shares during the period. Nordea Investment Management AB grew its holdings in Tyler Technologies by 4.6% during the fourth quarter. Nordea Investment Management AB now owns 2,600 shares of the technology company’s stock worth $1,091,000 after purchasing an additional 115 shares during the period. DNB Asset Management AS bought a new position in Tyler Technologies during the fourth quarter worth about $5,040,000. Finally, NBW Capital LLC grew its holdings in Tyler Technologies by 50.7% during the fourth quarter. NBW Capital LLC now owns 13,345 shares of the technology company’s stock worth $5,580,000 after purchasing an additional 4,489 shares during the period. 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.