Tyler Technologies (NYSE:TYL) Given New $705.00 Price Target at Barclays

Tyler Technologies (NYSE:TYL) had its price target boosted by Barclays from $700.00 to $705.00 in a research note released on Friday, Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company increased their target price on shares of Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Robert W. Baird raised their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday. DA Davidson boosted their target price on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Oppenheimer lifted their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday. Finally, JMP Securities lifted their target price on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Stock Performance

Tyler Technologies stock traded down $5.81 during mid-day trading on Friday, reaching $605.86. 238,251 shares of the company’s stock were exchanged, compared to its average volume of 228,208. Tyler Technologies has a one year low of $361.16 and a one year high of $631.43. The firm has a market capitalization of $25.85 billion, a PE ratio of 125.18, a P/E/G ratio of 5.42 and a beta of 0.78. The business’s fifty day simple moving average is $584.88 and its 200 day simple moving average is $526.68. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.09. The company had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. Tyler Technologies’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.66 EPS. On average, sell-side analysts expect that Tyler Technologies will post 7.21 earnings per share for the current year.

Insider Buying and Selling at Tyler Technologies

In other news, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $578.26, for a total value of $159,021.50. Following the sale, the director now directly owns 3,218 shares in the company, valued at approximately $1,860,840.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $43,236,750. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the completion of the transaction, the director now directly owns 3,218 shares of the company’s stock, valued at $1,860,840.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,375 shares of company stock worth $17,049,739. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tyler Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TYL. Swedbank AB purchased a new stake in shares of Tyler Technologies during the 2nd quarter valued at about $251,390,000. International Assets Investment Management LLC grew its position in Tyler Technologies by 252,047.5% in the 3rd quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock worth $179,564,000 after purchasing an additional 307,498 shares during the period. Janus Henderson Group PLC raised its stake in Tyler Technologies by 15.3% during the 1st quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock valued at $226,501,000 after buying an additional 70,801 shares during the last quarter. Quantum Capital Management LLC NJ lifted its holdings in shares of Tyler Technologies by 179.4% during the 1st quarter. Quantum Capital Management LLC NJ now owns 107,760 shares of the technology company’s stock valued at $45,799,000 after buying an additional 69,189 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Tyler Technologies by 18.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 424,982 shares of the technology company’s stock worth $180,622,000 after buying an additional 65,814 shares during the last quarter. 93.30% of the stock is owned by institutional investors.

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.