Tyler Technologies (NYSE:TYL) Earns “Overweight” Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Tyler Technologies (NYSE:TYL) in a research report sent to investors on Wednesday morning, Benzinga reports. Piper Sandler currently has a $520.00 price objective on the technology company’s stock.

A number of other equities analysts also recently issued reports on the company. DA Davidson increased their price target on Tyler Technologies from $412.00 to $434.00 and gave the stock a neutral rating in a research report on Thursday, February 22nd. JPMorgan Chase & Co. increased their price target on Tyler Technologies from $500.00 to $526.00 and gave the stock an overweight rating in a research report on Thursday, February 15th. Needham & Company LLC increased their price target on Tyler Technologies from $475.00 to $500.00 and gave the stock a buy rating in a research report on Thursday, February 15th. Finally, JMP Securities reissued a market outperform rating and set a $490.00 price target on shares of Tyler Technologies in a research report on Friday, February 16th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tyler Technologies currently has a consensus rating of Moderate Buy and an average price target of $465.85.

Tyler Technologies Stock Performance

TYL stock opened at $460.74 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.20. The business’s fifty day simple moving average is $422.62 and its two-hundred day simple moving average is $414.83. Tyler Technologies has a twelve month low of $361.16 and a twelve month high of $465.78. The firm has a market cap of $19.55 billion, a price-to-earnings ratio of 104.24, a PEG ratio of 4.12 and a beta of 0.81.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, topping 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 business had revenue of $480.94 million for the quarter, compared to analyst estimates of $483.34 million. Analysts predict that Tyler Technologies will post 6.77 earnings per share for the current year.

Insider Activity at Tyler Technologies

In related news, Director Glenn A. Carter sold 1,650 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $437.84, for a total transaction of $722,436.00. Following the sale, the director now owns 2,011 shares of the company’s stock, valued at $880,496.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Tyler Technologies news, Director Glenn A. Carter sold 1,650 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $437.84, for a total value of $722,436.00. Following the completion of the sale, the director now owns 2,011 shares of the company’s stock, valued at $880,496.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 6,500 shares of the firm’s 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 completion of the sale, the insider now directly owns 6,400 shares of the company’s stock, valued at approximately $2,799,936. The disclosure for this sale can be found here. Insiders have sold a total of 50,608 shares of company stock valued at $21,974,819 over the last quarter. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tyler Technologies

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Tyler Technologies in the fourth quarter worth about $459,691,000. Morgan Stanley raised its stake in shares of Tyler Technologies by 21.1% in the third quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock worth $392,208,000 after purchasing an additional 177,242 shares during the last quarter. APG Asset Management US Inc. purchased a new position in shares of Tyler Technologies in the fourth quarter worth about $57,493,000. Van ECK Associates Corp raised 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 purchasing an additional 100,788 shares during the last quarter. Finally, Franklin Resources Inc. raised 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 purchasing an additional 64,889 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

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.