The Goldman Sachs Group Issues Positive Forecast for Tyler Technologies (NYSE:TYL) Stock Price

Tyler Technologies (NYSE:TYL) had its price target increased by equities research analysts at The Goldman Sachs Group from $345.00 to $385.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. The Goldman Sachs Group‘s price objective would indicate a potential downside of 5.60% from the stock’s previous close.

A number of other equities research analysts have also weighed in on TYL. DA Davidson restated a “buy” rating and issued a $460.00 target price on shares of Tyler Technologies in a report on Tuesday, October 27th. Weiss Ratings raised Tyler Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 22nd. Wells Fargo & Company increased their price objective on Tyler Technologies from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Friday. Zacks Research lowered Tyler Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Finally, Piper Sandler initiated coverage on Tyler Technologies in a report on Monday, September 28th. They issued an “overweight” rating and a $450.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Tyler Technologies currently has an average rating of “Moderate Buy” and an average price target of $440.88.

Tyler Technologies Stock Up 1.0%

NYSE TYL traded up $3.90 during mid-day trading on Tuesday, hitting $407.83. The company’s stock had a trading volume of 380,421 shares, compared to its average volume of 751,663. The company’s 50 day simple moving average is $352.96 and its 200 day simple moving average is $337.30. Tyler Technologies has a twelve month low of $270.71 and a twelve month high of $481.57. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $16.22 billion, a price-to-earnings ratio of 51.30, a PEG ratio of 2.38 and a beta of 0.85.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, October 28th. The technology company reported $3.52 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.04. Tyler Technologies had a net margin of 13.51% and a return on equity of 11.64%. The firm had revenue of $647.57 million for the quarter, compared to the consensus estimate of $651.38 million. During the same quarter in the prior year, the company posted $2.91 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. Analysts anticipate that Tyler Technologies will post 10.13 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Jeffrey Puckett sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $356.44, for a total value of $3,029,740.00. Following the transaction, the chief operating officer owned 7,784 shares in the company, valued at approximately $2,774,528.96. This represents a 52.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO H. Moore, Jr. sold 9,250 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $372.79, for a total value of $3,448,307.50. Following the transaction, the chief executive officer directly owned 100,392 shares of the company’s stock, valued at approximately $37,425,133.68. This trade represents a 8.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Raiffeisen Bank International AG lifted its holdings in Tyler Technologies by 259.3% during the second quarter. Raiffeisen Bank International AG now owns 97 shares of the technology company’s stock valued at $28,000 after purchasing an additional 70 shares during the last quarter. Quantbot Technologies LP bought a new position in Tyler Technologies during the second quarter worth about $35,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Tyler Technologies in the second quarter worth about $37,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Tyler Technologies by 75.0% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 147 shares of the technology company’s stock worth $50,000 after purchasing an additional 63 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in shares of Tyler Technologies by 235.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 161 shares of the technology company’s stock worth $54,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 93.30% of the company’s stock.

About Tyler Technologies

Tyler Technologies, Inc provides integrated software and technology services to public-sector organizations. Its customers include municipalities, counties, states, courts, school districts, public safety agencies, and other government entities. The company’s solutions are designed to help public organizations manage operations, improve service delivery, and engage with residents and constituents.

Tyler’s product portfolio includes enterprise resource planning and financial management software, property tax and appraisal systems, court and justice solutions, public safety and emergency communications platforms, permitting and licensing tools, and software for schools and elections.