Wells Fargo & Company Increases Tyler Technologies (NYSE:TYL) Price Target to $600.00

Tyler Technologies (NYSE:TYL) had its price target lifted by Wells Fargo & Company from $580.00 to $600.00 in a research report sent to investors on Friday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the technology company’s stock.

A number of other equities analysts have also recently issued reports on the stock. Needham & Company LLC restated a buy rating and issued a $600.00 price objective on shares of Tyler Technologies in a research report on Thursday, July 25th. Oppenheimer increased their price objective on Tyler Technologies from $550.00 to $625.00 and gave the stock an outperform rating in a report on Friday. JMP Securities boosted their target price on Tyler Technologies from $490.00 to $580.00 and gave the company a market outperform rating in a research note on Monday, July 22nd. Truist Financial reaffirmed a buy rating and issued a $560.00 price target (up previously from $510.00) on shares of Tyler Technologies in a research note on Thursday, May 23rd. Finally, BTIG Research upped their price objective on shares of Tyler Technologies from $515.00 to $550.00 and gave the stock a buy rating in a report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $582.31.

Tyler Technologies Stock Down 2.3 %

Shares of NYSE:TYL opened at $576.99 on Friday. The stock has a market capitalization of $24.50 billion, a P/E ratio of 130.54, a price-to-earnings-growth ratio of 6.06 and a beta of 0.76. The stock’s 50-day moving average price is $501.04 and its 200-day moving average price is $458.42. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. Tyler Technologies has a 12-month low of $361.16 and a 12-month high of $593.50.

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

Insiders Place Their Bets

In other news, Director Daniel M. Pope sold 520 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $491.18, for a total transaction of $255,413.60. Following the completion of the transaction, the director now directly owns 3,493 shares in the company, valued at $1,715,691.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $483.21, for a total value of $2,899,260.00. Following the transaction, the insider now owns 6,983 shares in the company, valued at approximately $3,374,255.43. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel M. Pope sold 520 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $491.18, for a total transaction of $255,413.60. Following the sale, the director now owns 3,493 shares of the company’s stock, valued at $1,715,691.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,241 shares of company stock worth $10,201,740. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tyler Technologies

A number of institutional investors have recently made changes to their positions in TYL. International Assets Investment Management LLC increased its holdings in Tyler Technologies by 41,712.0% in the 4th quarter. International Assets Investment Management LLC now owns 52,265 shares of the technology company’s stock worth $21,853,000 after buying an additional 52,140 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Tyler Technologies by 119.2% in the first quarter. Commonwealth Equity Services LLC now owns 6,517 shares of the technology company’s stock worth $2,770,000 after acquiring an additional 3,544 shares during the period. Bessemer Group Inc. grew its stake in shares of Tyler Technologies by 39.4% in the first quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock worth $2,906,000 after acquiring an additional 1,935 shares during the period. Rafferty Asset Management LLC raised its holdings in shares of Tyler Technologies by 26.8% during the fourth quarter. Rafferty Asset Management LLC now owns 13,972 shares of the technology company’s stock valued at $5,842,000 after purchasing an additional 2,951 shares during the last quarter. Finally, APG Asset Management US Inc. bought a new position in Tyler Technologies during the fourth quarter valued at approximately $57,493,000. Hedge funds and other institutional investors 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.