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

Truist Financial reiterated their buy rating on shares of Tyler Technologies (NYSE:TYL) in a research report sent to investors on Friday,Benzinga reports. Truist Financial currently has a $775.00 price target on the technology company’s stock, up from their previous price target of $685.00.

Other equities analysts have also recently issued research reports about the company. Barclays raised their price target on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a report on Friday. Robert W. Baird raised their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. JMP Securities raised their price target on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a report on Friday, October 25th. Piper Sandler lifted their target price on Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a report on Friday. Finally, DA Davidson reiterated a “neutral” rating and issued a $575.00 target price on shares of Tyler Technologies in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Tyler Technologies presently has an average rating of “Moderate Buy” and an average target price of $656.92.

Tyler Technologies Stock Down 0.7 %

Shares of TYL opened at $642.39 on Friday. The business’s 50 day moving average is $596.21 and its 200 day moving average is $594.15. The company has a market capitalization of $27.49 billion, a PE ratio of 117.22, a price-to-earnings-growth ratio of 4.78 and a beta of 0.78. Tyler Technologies has a 12-month low of $397.80 and a 12-month high of $661.31. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last issued 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%. Research analysts expect that Tyler Technologies will post 7.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tyler Technologies news, insider John S. Marr, Jr. sold 12,000 shares of Tyler Technologies stock in a transaction on Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,285,187.78. The trade was a 63.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total value of $1,580,025.00. Following the sale, the chief financial officer now directly owns 12,198 shares of the company’s stock, valued at approximately $7,709,257.98. This trade represents a 17.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,502 shares of company stock valued at $18,941,368. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TYL. Exchange Traded Concepts LLC bought a new position in shares of Tyler Technologies in the 3rd quarter worth $270,000. Creative Planning boosted its stake in shares of Tyler Technologies by 2.9% in the third quarter. Creative Planning now owns 24,051 shares of the technology company’s stock worth $14,039,000 after buying an additional 686 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in shares of Tyler Technologies by 3.9% in the third quarter. Vontobel Holding Ltd. now owns 1,214 shares of the technology company’s stock worth $709,000 after buying an additional 46 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Tyler Technologies in the third quarter worth about $409,000. Finally, Bleakley Financial Group LLC boosted its stake in shares of Tyler Technologies by 2.6% in the third quarter. Bleakley Financial Group LLC now owns 2,123 shares of the technology company’s stock worth $1,239,000 after buying an additional 54 shares during the last quarter. 93.30% of the stock is owned by 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.