Tyler Technologies (NYSE:TYL) Given “Market Outperform” Rating at JMP Securities

JMP Securities reissued their market outperform rating on shares of Tyler Technologies (NYSE:TYL) in a report published on Friday morning, Benzinga reports. They currently have a $490.00 target price on the technology company’s stock.

A number of other research analysts have also weighed in on the stock. DA Davidson raised their price objective on shares of Tyler Technologies from $412.00 to $434.00 and gave the company a neutral rating in a research note on Thursday, February 22nd. Piper Sandler reiterated an overweight rating and set a $520.00 price target on shares of Tyler Technologies in a research note on Wednesday, April 24th. Robert W. Baird raised their target price on Tyler Technologies from $500.00 to $525.00 and gave the company an outperform rating in a report on Friday. Oppenheimer increased their price target on Tyler Technologies from $480.00 to $500.00 and gave the company an outperform rating in a research report on Friday. Finally, JPMorgan Chase & Co. increased their target price on shares of Tyler Technologies from $500.00 to $526.00 and gave the company an overweight rating in a report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Tyler Technologies presently has a consensus rating of Moderate Buy and an average price target of $480.60.

Tyler Technologies Stock Performance

Shares of TYL opened at $465.21 on Friday. The stock has a 50-day moving average of $423.50 and a 200-day moving average of $416.17. Tyler Technologies has a one year low of $361.16 and a one year high of $465.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $19.75 billion, a PE ratio of 105.25, a P/E/G ratio of 4.38 and a beta of 0.81.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. The firm had revenue of $480.94 million during the quarter, compared to analysts’ expectations of $483.34 million. On average, equities research analysts predict that Tyler Technologies will post 7.01 EPS for the current fiscal year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,500 shares of Tyler Technologies stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $427.82, for a total value of $2,780,830.00. Following the sale, the insider now owns 6,400 shares of the company’s stock, valued at $2,738,048. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO H Lynn Moore, Jr. sold 10,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $435.98, for a total transaction of $4,359,800.00. Following the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $32,698,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 6,500 shares of Tyler Technologies stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $427.82, for a total value of $2,780,830.00. Following the completion of the sale, the insider now directly owns 6,400 shares of the company’s stock, valued at approximately $2,738,048. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,608 shares of company stock worth $21,974,819. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tyler Technologies

Several institutional investors have recently added to or reduced their stakes in TYL. Norges Bank bought a new stake in shares of Tyler Technologies in the fourth quarter valued at approximately $459,691,000. Morgan Stanley boosted its holdings in Tyler Technologies by 21.1% in the 3rd quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock worth $392,208,000 after buying an additional 177,242 shares during the period. APG Asset Management US Inc. purchased a new position in Tyler Technologies in the 4th quarter valued at approximately $57,493,000. Van ECK Associates Corp raised its holdings in Tyler Technologies by 13.1% during the 4th quarter. Van ECK Associates Corp now owns 868,016 shares of the technology company’s stock valued at $362,935,000 after acquiring an additional 100,788 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Tyler Technologies by 6.7% during the fourth quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock worth $434,987,000 after acquiring an additional 64,889 shares in the last quarter. 93.30% of the stock is owned by hedge funds and other 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.