Tyler Technologies (NYSE:TYL) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Tyler Technologies (NYSE:TYL) in a report issued on Tuesday,Benzinga reports. The firm currently has a $700.00 price objective on the technology company’s stock.

Several other brokerages also recently commented on TYL. Piper Sandler upped their price target on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Truist Financial reiterated a “buy” rating and issued a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. DA Davidson increased their target price on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays increased their target price on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Oppenheimer increased their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Tyler Technologies has a consensus rating of “Moderate Buy” and an average target price of $643.77.

Tyler Technologies Stock Up 1.2 %

Shares of NYSE:TYL opened at $593.28 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market cap of $25.39 billion, a PE ratio of 108.26, a price-to-earnings-growth ratio of 4.54 and a beta of 0.78. Tyler Technologies has a 52 week low of $397.80 and a 52 week high of $638.56. The firm has a 50 day simple moving average of $598.42 and a 200 day simple moving average of $585.06.

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

Insider Activity at Tyler Technologies

In other news, CFO Brian K. Miller sold 6,752 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the completion of the transaction, the chief financial officer now directly owns 11,918 shares of the company’s stock, valued at approximately $7,314,672.50. This trade represents a 36.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the completion of the transaction, the insider now owns 6,983 shares in the company, valued at approximately $4,424,079.65. This trade represents a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,252 shares of company stock worth $26,096,928. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Tyler Technologies

A number of institutional investors have recently modified their holdings of TYL. MassMutual Private Wealth & Trust FSB raised its stake in shares of Tyler Technologies by 18.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock worth $78,000 after buying an additional 21 shares during the last quarter. Baron Wealth Management LLC raised its stake in shares of Tyler Technologies by 1.5% during the fourth quarter. Baron Wealth Management LLC now owns 1,487 shares of the technology company’s stock worth $857,000 after buying an additional 22 shares during the last quarter. Oak Ridge Investments LLC raised its stake in shares of Tyler Technologies by 0.8% during the fourth quarter. Oak Ridge Investments LLC now owns 3,011 shares of the technology company’s stock worth $1,736,000 after buying an additional 25 shares during the last quarter. FWG Holdings LLC raised its stake in shares of Tyler Technologies by 3.1% during the third quarter. FWG Holdings LLC now owns 910 shares of the technology company’s stock worth $551,000 after buying an additional 27 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in shares of 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. 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.