Tyler Technologies (NYSE:TYL) Receives Market Outperform Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Tyler Technologies (NYSE:TYL) in a research report released on Friday, Benzinga reports. JMP Securities currently has a $490.00 price target on the technology company’s stock.

Several other research analysts also recently commented on the stock. Robert W. Baird lifted their price target on shares of Tyler Technologies from $500.00 to $525.00 and gave the stock an outperform rating in a research note on Friday. Needham & Company LLC reissued a buy rating and set a $500.00 price target on shares of Tyler Technologies in a research report on Thursday. Oppenheimer boosted their price objective on shares of Tyler Technologies from $480.00 to $500.00 and gave the company an outperform rating in a research report on Friday. DA Davidson upped 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. Finally, Piper Sandler reissued an overweight rating and issued a $520.00 target price on shares of Tyler Technologies in a research note on Wednesday. Three research 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.com, Tyler Technologies presently has an average rating of Moderate Buy and a consensus price target of $465.85.

Tyler Technologies Trading Up 0.6 %

Shares of TYL opened at $460.74 on Friday. The company has a market capitalization of $19.56 billion, a P/E ratio of 104.24, a P/E/G ratio of 4.51 and a beta of 0.81. Tyler Technologies has a 1-year low of $361.16 and a 1-year high of $465.78. The firm’s 50 day simple moving average is $423.02 and its 200 day simple moving average is $415.30. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.86.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.33 by $0.06. The firm had revenue of $480.94 million for the quarter, compared to the consensus estimate of $483.34 million. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. Sell-side analysts forecast that Tyler Technologies will post 6.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 10,000 shares of Tyler Technologies 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 completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $32,698,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $427.82, for a total transaction of $2,780,830.00. Following the completion of the sale, the insider now owns 6,400 shares in the company, valued at $2,738,048. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 10,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $435.98, for a total value of $4,359,800.00. Following the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $32,698,500. 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. 2.20% of the stock is owned by insiders.

Institutional Trading of Tyler Technologies

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Tyler Technologies by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 4,969,048 shares of the technology company’s stock worth $2,077,658,000 after buying an additional 55,629 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Tyler Technologies by 0.4% during the third quarter. Principal Financial Group Inc. now owns 1,268,954 shares of the technology company’s stock worth $489,994,000 after purchasing an additional 5,013 shares in the last quarter. Norges Bank purchased a new stake in shares of Tyler Technologies during the fourth quarter worth about $459,691,000. Franklin Resources Inc. boosted its stake in Tyler Technologies by 6.7% during the fourth quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock valued at $434,987,000 after buying an additional 64,889 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Tyler Technologies by 21.1% during the third quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock valued at $392,208,000 after buying an additional 177,242 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

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.