Barclays Forecasts Strong Price Appreciation for Tyler Technologies (NYSE:TYL) Stock

Tyler Technologies (NYSE:TYL) had its price objective increased by Barclays from $705.00 to $715.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective suggests a potential upside of 11.51% from the stock’s previous close.

Several other equities analysts also recently weighed in on TYL. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price objective on shares of Tyler Technologies in a research note on Tuesday, January 21st. StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Piper Sandler boosted their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research report on Friday. Oppenheimer raised their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, JMP Securities lifted their target price on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday, October 25th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $650.00.

Tyler Technologies Stock Down 0.9 %

TYL stock traded down $5.52 during mid-day trading on Friday, reaching $641.22. The company had a trading volume of 33,864 shares, compared to its average volume of 234,058. The firm has a fifty day simple moving average of $595.47 and a 200 day simple moving average of $593.32. 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 capitalization of $27.44 billion, a price-to-earnings ratio of 116.94, a price-to-earnings-growth ratio of 4.78 and a beta of 0.78. Tyler Technologies has a fifty-two week low of $397.80 and a fifty-two week high of $661.31.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Analysts forecast that Tyler Technologies will post 7.36 earnings per share for the current fiscal year.

Insider Activity

In other Tyler Technologies news, CFO Brian K. Miller sold 6,752 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 11,918 shares of the company’s stock, valued at $7,314,672.50. This trade represents a 36.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John S. Marr, Jr. sold 12,000 shares of Tyler Technologies stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $613.66, for a total value of $7,363,920.00. Following the sale, the insider now owns 6,983 shares in the company, valued at $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,502 shares of company stock worth $18,941,368. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tyler Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund raised its holdings in shares of Tyler Technologies by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company’s stock worth $2,115,000 after purchasing an additional 20 shares in the last quarter. Kensington Investment Counsel LLC grew its holdings in shares of Tyler Technologies by 0.8% in the 4th quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock worth $1,439,000 after acquiring an additional 20 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position 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 purchasing an additional 21 shares during the period. Baron Wealth Management LLC raised its position 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 purchasing an additional 22 shares during the period. Finally, Choreo LLC increased its stake in Tyler Technologies by 3.9% in the 4th quarter. Choreo LLC now owns 647 shares of the technology company’s stock worth $374,000 after purchasing an additional 24 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors.

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.