Tyler Technologies (NYSE:TYL) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Tyler Technologies (NYSE:TYL) in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a $500.00 target price on the technology company’s stock.

Several other research analysts have also recently issued reports on TYL. JPMorgan Chase & Co. raised their target price on Tyler Technologies from $500.00 to $526.00 and gave the stock an overweight rating in a research report on Thursday, February 15th. Piper Sandler reaffirmed an overweight rating and issued a $520.00 price objective on shares of Tyler Technologies in a research note on Wednesday, April 24th. DA Davidson raised their price objective on Tyler Technologies from $412.00 to $434.00 and gave the stock a neutral rating in a research note on Thursday, February 22nd. Finally, JMP Securities reaffirmed a market outperform rating and issued a $490.00 price objective on shares of Tyler Technologies in a research note on Friday, February 16th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $480.60.

Tyler Technologies Trading Up 0.6 %

Shares of NYSE:TYL opened at $460.74 on Thursday. The stock has a market capitalization of $19.56 billion, a price-to-earnings ratio of 104.24, a PEG ratio of 4.53 and a beta of 0.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.94. The stock’s 50-day simple moving average is $423.02 and its two-hundred day simple moving average is $415.62. Tyler Technologies has a 52-week low of $361.16 and a 52-week high of $465.78.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.06. The business had revenue of $480.94 million for the quarter, compared to analysts’ expectations of $483.34 million. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. Analysts expect that Tyler Technologies will post 7.01 EPS for the current year.

Insider Activity at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 7,500 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $435.19, for a total transaction of $3,263,925.00. Following the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $32,639,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO H Lynn Moore, Jr. sold 7,500 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $435.19, for a total transaction of $3,263,925.00. Following the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $32,639,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 10,000 shares of Tyler Technologies stock in a transaction that occurred 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 directly owns 75,000 shares in the company, valued at approximately $32,698,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,608 shares of company stock valued at $21,974,819. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tyler Technologies

Several institutional investors have recently added to or reduced their stakes in TYL. CWM LLC grew its holdings in Tyler Technologies by 18.0% during the 3rd quarter. CWM LLC now owns 517 shares of the technology company’s stock valued at $200,000 after buying an additional 79 shares in the last quarter. AE Wealth Management LLC grew its holdings in Tyler Technologies by 23.3% during the 3rd quarter. AE Wealth Management LLC now owns 4,518 shares of the technology company’s stock valued at $1,745,000 after buying an additional 854 shares in the last quarter. SG Americas Securities LLC grew its holdings in Tyler Technologies by 3.3% during the 3rd quarter. SG Americas Securities LLC now owns 3,553 shares of the technology company’s stock valued at $1,372,000 after buying an additional 114 shares in the last quarter. Czech National Bank grew its holdings in Tyler Technologies by 48.2% during the 3rd quarter. Czech National Bank now owns 7,354 shares of the technology company’s stock valued at $2,840,000 after buying an additional 2,391 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in Tyler Technologies by 16.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 172,071 shares of the technology company’s stock valued at $66,443,000 after buying an additional 24,920 shares in the last quarter. Hedge funds and other 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.