Tyler Technologies (NYSE:TYL) Given “Buy” Rating at Truist Financial

Tyler Technologies (NYSE:TYL)‘s stock had its “buy” rating restated by investment analysts at Truist Financial in a report issued on Friday,Benzinga reports. They currently have a $775.00 price objective on the technology company’s stock, up from their prior price objective of $685.00. Truist Financial’s target price would suggest a potential upside of 20.64% from the stock’s current price.

Several other equities research analysts have also issued reports on TYL. DA Davidson reaffirmed a “neutral” rating and set a $575.00 target price on shares of Tyler Technologies in a research report on Thursday, January 30th. Needham & Company LLC reiterated a “buy” rating and set a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. JMP Securities increased their price target on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research note on Friday, October 25th. StockNews.com downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $667.83.

Tyler Technologies Trading Down 0.7 %

Shares of Tyler Technologies stock opened at $642.39 on Friday. Tyler Technologies has a 1 year low of $397.80 and a 1 year high of $661.31. The firm has a market cap of $27.49 billion, a PE ratio of 117.22, a P/E/G ratio of 4.78 and a beta of 0.78. The stock has a fifty day moving average price of $596.21 and a 200-day moving average price of $594.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) 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%. Equities research analysts anticipate that Tyler Technologies will post 7.36 EPS for the current year.

Insiders Place Their Bets

In other Tyler Technologies news, insider John S. Marr, Jr. sold 12,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now owns 6,983 shares in the company, valued at $4,285,187.78. This trade represents a 63.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian K. Miller sold 6,752 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was 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 of the company’s stock, valued at approximately $7,314,672.50. This represents a 36.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock worth $18,941,368 in the last quarter. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wahed Invest LLC grew its holdings in shares of Tyler Technologies by 5.2% during the fourth quarter. Wahed Invest LLC now owns 1,081 shares of the technology company’s stock worth $623,000 after purchasing an additional 53 shares in the last quarter. Bwcp LP grew its holdings in shares of Tyler Technologies by 47.1% during the fourth quarter. Bwcp LP now owns 25,276 shares of the technology company’s stock worth $14,575,000 after purchasing an additional 8,094 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Tyler Technologies by 24.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,173 shares of the technology company’s stock worth $1,253,000 after purchasing an additional 429 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Tyler Technologies during the fourth quarter worth about $27,488,000. Finally, Freestone Grove Partners LP purchased a new position in shares of Tyler Technologies during the fourth quarter worth about $607,000. 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.