Tyler Technologies (NYSE:TYL) Price Target Lowered to $335.00 at Wells Fargo & Company

Tyler Technologies (NYSE:TYL) had its target price reduced by stock analysts at Wells Fargo & Company from $420.00 to $335.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 10.56% from the stock’s current price.

Other analysts also recently issued research reports about the company. Cantor Fitzgerald reiterated a “neutral” rating on shares of Tyler Technologies in a research report on Friday. Stifel Nicolaus assumed coverage on shares of Tyler Technologies in a research report on Wednesday, January 7th. They set a “buy” rating and a $550.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Tyler Technologies in a report on Tuesday, January 13th. They issued a “buy” rating and a $560.00 price target on the stock. DA Davidson upgraded shares of Tyler Technologies from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $510.00 to $460.00 in a research report on Wednesday. Finally, Evercore reiterated a “positive” rating on shares of Tyler Technologies in a research report on Friday, October 31st. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $556.29.

Tyler Technologies Price Performance

TYL stock traded up $15.97 during mid-day trading on Friday, reaching $303.01. 474,385 shares of the company traded hands, compared to its average volume of 640,553. The company has a fifty day moving average price of $426.51 and a 200-day moving average price of $488.26. Tyler Technologies has a 52-week low of $283.71 and a 52-week high of $650.97. The company has a market capitalization of $13.04 billion, a P/E ratio of 41.87, a P/E/G ratio of 2.29 and a beta of 0.91.

Insiders Place Their Bets

In other Tyler Technologies news, CFO Brian K. Miller sold 1,000 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $448.51, for a total transaction of $448,510.00. Following the completion of the sale, the chief financial officer owned 17,148 shares of the company’s stock, valued at $7,691,049.48. This represents a 5.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Glenn A. Carter sold 500 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $458.73, for a total transaction of $229,365.00. Following the completion of the sale, the director directly owned 3,172 shares in the company, valued at approximately $1,455,091.56. This trade represents a 13.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,500 shares of company stock valued at $1,605,605 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tyler Technologies

A number of large investors have recently modified their holdings of the stock. Boston Family Office LLC grew its position in shares of Tyler Technologies by 9.6% in the 4th quarter. Boston Family Office LLC now owns 4,198 shares of the technology company’s stock worth $1,906,000 after buying an additional 369 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tyler Technologies by 8.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 358,115 shares of the technology company’s stock worth $162,566,000 after acquiring an additional 29,055 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Tyler Technologies by 3.0% in the fourth quarter. Wells Fargo & Company MN now owns 139,593 shares of the technology company’s stock worth $63,368,000 after purchasing an additional 4,125 shares during the period. Van Lanschot Kempen Investment Management N.V. grew its holdings in Tyler Technologies by 0.7% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 14,113 shares of the technology company’s stock worth $6,407,000 after purchasing an additional 99 shares during the period. Finally, Korea Investment CORP increased its stake in shares of Tyler Technologies by 12.1% during the fourth quarter. Korea Investment CORP now owns 26,396 shares of the technology company’s stock valued at $11,982,000 after purchasing an additional 2,842 shares in the last quarter. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Company Profile

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.