Wells Fargo & Company Reiterates Equal Weight Rating for Tyler Technologies (NYSE:TYL)

Wells Fargo & Company reaffirmed their equal weight rating on shares of Tyler Technologies (NYSE:TYL) in a research report report published on Tuesday, Marketbeat.com reports. Wells Fargo & Company currently has a $615.00 target price on the technology company’s stock, down from their previous target price of $670.00.

A number of other brokerages have also commented on TYL. JMP Securities raised their price target on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a report on Friday, October 25th. StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Truist Financial reiterated a “buy” rating and set a $685.00 price objective (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Barclays upped their target price on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Robert W. Baird boosted their price objective on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $643.77.

Tyler Technologies Trading Up 1.9 %

Shares of NYSE TYL opened at $574.49 on Tuesday. Tyler Technologies has a 12-month low of $397.80 and a 12-month high of $638.56. The company has a market cap of $24.59 billion, a price-to-earnings ratio of 104.83, a price-to-earnings-growth ratio of 5.54 and a beta of 0.78. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The stock’s 50 day simple moving average is $606.08 and its 200 day simple moving average is $580.03.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. During the same period last year, the firm posted $1.66 EPS. Tyler Technologies’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts expect that Tyler Technologies will post 7.36 EPS for the current year.

Insider Activity

In related news, insider John S. Marr, Jr. sold 12,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $4,285,187.78. This trade represents a 63.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 6,752 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $613.75, for a total value of $4,144,040.00. Following the completion of the transaction, the chief financial officer now owns 11,918 shares in the company, valued at $7,314,672.50. This trade represents a 36.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,252 shares of company stock worth $26,096,928 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Institutional investors have recently made changes to their positions in the company. FWG Holdings LLC grew its position in Tyler Technologies by 3.1% in the third quarter. FWG Holdings LLC now owns 910 shares of the technology company’s stock worth $551,000 after acquiring an additional 27 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in Tyler Technologies by 2.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,377 shares of the technology company’s stock worth $804,000 after buying an additional 31 shares during the last quarter. UMB Bank n.a. raised its holdings in Tyler Technologies by 2.4% during the third quarter. UMB Bank n.a. now owns 1,354 shares of the technology company’s stock valued at $790,000 after buying an additional 32 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Tyler Technologies by 1.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,746 shares of the technology company’s stock worth $878,000 after acquiring an additional 33 shares in the last quarter. Finally, Empirical Finance LLC increased its holdings in shares of Tyler Technologies by 2.6% during the 3rd quarter. Empirical Finance LLC now owns 1,342 shares of the technology company’s stock valued at $783,000 after acquiring an additional 34 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

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.