Tyler Technologies (NYSE:TYL) Earns “Buy” Rating from Truist Financial

Truist Financial reiterated their buy rating on shares of Tyler Technologies (NYSE:TYL) in a research note published on Thursday, Benzinga reports. The brokerage currently has a $560.00 price target on the technology company’s stock, up from their prior price target of $510.00.

Other analysts also recently issued research reports about the stock. JMP Securities reaffirmed a market outperform rating and set a $490.00 price target on shares of Tyler Technologies in a report on Friday, April 26th. DA Davidson increased their price objective on shares of Tyler Technologies from $412.00 to $434.00 and gave the stock a neutral rating in a research note on Thursday, February 22nd. Loop Capital increased their price objective on shares of Tyler Technologies from $485.00 to $530.00 and gave the stock a buy rating in a research note on Tuesday, May 21st. BTIG Research increased their price objective on shares of Tyler Technologies from $515.00 to $550.00 and gave the stock a buy rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Tyler Technologies from $500.00 to $526.00 and gave the stock an overweight rating in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $519.09.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $492.05 on Thursday. The firm’s 50-day moving average price is $443.38 and its 200-day moving average price is $429.19. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. The company has a market cap of $20.89 billion, a PE ratio of 111.32, a PEG ratio of 4.59 and a beta of 0.76. Tyler Technologies has a 52-week low of $361.16 and a 52-week high of $500.49.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.26. The firm had revenue of $512.36 million for the quarter, compared to the consensus estimate of $507.79 million. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. As a group, analysts anticipate that Tyler Technologies will post 7.14 EPS for the current year.

Insiders Place Their Bets

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $483.21, for a total transaction of $2,899,260.00. Following the sale, the insider now owns 6,983 shares in the company, valued at approximately $3,374,255.43. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Daniel M. Pope sold 520 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $491.18, for a total transaction of $255,413.60. Following the sale, the director now owns 3,493 shares in the company, valued at $1,715,691.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $483.21, for a total transaction of $2,899,260.00. Following the sale, the insider now owns 6,983 shares in the company, valued at approximately $3,374,255.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,049 shares of company stock worth $20,727,935. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Kapitalo Investimentos Ltda bought a new stake in shares of Tyler Technologies during the fourth quarter valued at approximately $26,000. Covestor Ltd grew its holdings in shares of Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after purchasing an additional 43 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Tyler Technologies in the fourth quarter valued at $31,000. Larson Financial Group LLC grew its holdings in shares of Tyler Technologies by 675.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the technology company’s stock valued at $40,000 after purchasing an additional 81 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Tyler Technologies in the fourth quarter valued at $40,000. 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.