Oppenheimer Increases Tyler Technologies (NYSE:TYL) Price Target to $625.00

Tyler Technologies (NYSE:TYL) had its price objective upped by Oppenheimer from $550.00 to $625.00 in a report released on Friday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

A number of other equities research analysts also recently weighed in on TYL. Loop Capital boosted their price target on Tyler Technologies from $485.00 to $530.00 and gave the company a buy rating in a report on Tuesday, May 21st. Needham & Company LLC reiterated a buy rating and issued a $600.00 price target on shares of Tyler Technologies in a report on Thursday. Wells Fargo & Company boosted their price objective on Tyler Technologies from $550.00 to $580.00 and gave the company an overweight rating in a research report on Thursday, July 18th. Truist Financial restated a buy rating and set a $560.00 price objective (up previously from $510.00) on shares of Tyler Technologies in a research report on Thursday, May 23rd. Finally, JMP Securities boosted their price objective on Tyler Technologies from $490.00 to $580.00 and gave the company a market outperform rating in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tyler Technologies currently has an average rating of Moderate Buy and a consensus target price of $582.31.

Tyler Technologies Stock Up 4.7 %

TYL opened at $590.65 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. The firm has a market cap of $25.08 billion, a P/E ratio of 133.63, a PEG ratio of 5.54 and a beta of 0.76. Tyler Technologies has a 52 week low of $361.16 and a 52 week high of $593.50. The business’s fifty day simple moving average is $499.37 and its 200 day simple moving average is $457.35.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.06. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The firm had revenue of $540.98 million for the quarter, compared to analyst estimates of $541.01 million. During the same period last year, the company earned $1.53 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts anticipate that Tyler Technologies will post 6.5 EPS for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $479.28, for a total value of $383,424.00. Following the completion of the sale, the chief financial officer now owns 12,736 shares in the company, valued at approximately $6,104,110.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Brian K. Miller sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $479.28, for a total transaction of $383,424.00. Following the completion of the transaction, the chief financial officer now owns 12,736 shares in the company, valued at approximately $6,104,110.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $481.99, for a total value of $2,891,940.00. Following the transaction, the insider now owns 6,983 shares of the company’s stock, valued at approximately $3,365,736.17. The disclosure for this sale can be found here. Insiders have sold 21,241 shares of company stock valued at $10,201,740 in the last 90 days. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tyler Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in TYL. Independence Bank of Kentucky acquired a new stake in shares of Tyler Technologies during the second quarter worth $25,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Tyler Technologies during the fourth quarter worth $26,000. Covestor Ltd grew its stake in shares of Tyler Technologies by 153.6% during the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after purchasing an additional 43 shares during the period. Blue Trust Inc. grew its stake in shares of Tyler Technologies by 329.4% during the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after purchasing an additional 56 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Tyler Technologies during the fourth quarter worth $31,000. 93.30% of the stock is owned by institutional investors and hedge funds.

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.