Tyler Technologies (NYSE:TYL) Price Target Increased to $380.00 by Analysts at Needham & Company LLC

Tyler Technologies (NYSE:TYL) had its price objective upped by Needham & Company LLC from $280.00 to $380.00 in a research report sent to investors on Thursday, The Fly reports. The brokerage currently has a buy rating on the technology company’s stock.

TYL has been the topic of a number of other research reports. DA Davidson increased their target price on Tyler Technologies from $216.00 to $238.00 and gave the company a neutral rating in a research note on Friday, November 1st. They noted that the move was a valuation call. Zacks Investment Research raised Tyler Technologies from a hold rating to a buy rating and set a $334.00 target price on the stock in a research note on Thursday, January 2nd. Northcoast Research cut Tyler Technologies from a buy rating to a neutral rating and set a $275.00 target price on the stock. in a research note on Thursday, December 5th. Finally, Robert W. Baird cut Tyler Technologies from an outperform rating to a neutral rating and set a $310.00 target price on the stock. in a research note on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $304.22.

TYL traded up $4.08 during trading on Thursday, reaching $338.25. The stock had a trading volume of 347,509 shares, compared to its average volume of 238,907. The stock has a market cap of $12.95 billion, a PE ratio of 103.13 and a beta of 0.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.20 and a current ratio of 1.20. Tyler Technologies has a one year low of $196.88 and a one year high of $340.80. The business has a 50-day moving average of $315.32 and a 200-day moving average of $279.65.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 12th. The technology company reported $1.43 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.30. The business had revenue of $288.80 million for the quarter, compared to analysts’ expectations of $291.57 million. Tyler Technologies had a return on equity of 11.51% and a net margin of 12.63%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.26 earnings per share. Equities research analysts forecast that Tyler Technologies will post 4.15 EPS for the current fiscal year.

In other news, CEO H Lynn Moore, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $290.02, for a total transaction of $2,900,200.00. Following the transaction, the chief executive officer now directly owns 73,672 shares of the company’s stock, valued at $21,366,353.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman John S. Marr, Jr. sold 25,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $286.27, for a total value of $7,156,750.00. Insiders have sold 67,750 shares of company stock worth $19,364,240 over the last ninety days. Insiders own 4.40% of the company’s stock.

Several large investors have recently made changes to their positions in TYL. MUFG Securities EMEA plc bought a new position in shares of Tyler Technologies during the fourth quarter valued at about $30,000. Parallel Advisors LLC boosted its holdings in shares of Tyler Technologies by 245.0% during the fourth quarter. Parallel Advisors LLC now owns 138 shares of the technology company’s stock worth $41,000 after purchasing an additional 98 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Tyler Technologies by 233.3% during the third quarter. Quadrant Capital Group LLC now owns 220 shares of the technology company’s stock worth $56,000 after purchasing an additional 154 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Tyler Technologies by 22.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 218 shares of the technology company’s stock worth $65,000 after purchasing an additional 40 shares during the period. Finally, Cerebellum GP LLC boosted its holdings in shares of Tyler Technologies by 25.0% during the third quarter. Cerebellum GP LLC now owns 250 shares of the technology company’s stock worth $66,000 after purchasing an additional 50 shares during the period. 89.54% of the stock is currently 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 in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.

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