Tyler Technologies (NYSE:TYL) Price Target Increased to $550.00 by Analysts at Oppenheimer

Tyler Technologies (NYSE:TYL) had its price objective hoisted by Oppenheimer from $500.00 to $550.00 in a report issued on Wednesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

A number of other research firms have also recently commented on TYL. JMP Securities reissued a market outperform rating and set a $490.00 price target on shares of Tyler Technologies in a report on Friday, April 26th. JPMorgan Chase & Co. lifted their target price on Tyler Technologies from $500.00 to $526.00 and gave the stock an overweight rating in a report on Thursday, February 15th. DA Davidson lifted their target price on Tyler Technologies from $412.00 to $434.00 and gave the stock a neutral rating in a report on Thursday, February 22nd. Loop Capital lifted their target price on Tyler Technologies from $485.00 to $530.00 and gave the stock a buy rating in a report on Tuesday. Finally, Piper Sandler reaffirmed an overweight rating and issued a $520.00 target price on shares of Tyler Technologies in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $514.55.

Tyler Technologies Price Performance

NYSE:TYL opened at $497.50 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. The business’s 50-day simple moving average is $440.41 and its two-hundred day simple moving average is $428.21. The stock has a market cap of $21.12 billion, a PE ratio of 112.56, a P/E/G ratio of 4.61 and a beta of 0.76. Tyler Technologies has a 52 week low of $361.16 and a 52 week high of $500.49.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.26. The business had revenue of $512.36 million for the quarter, compared to analysts’ expectations of $507.79 million. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. As a group, analysts forecast that Tyler Technologies will post 7.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Daniel M. Pope sold 520 shares of Tyler Technologies stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total value of $255,413.60. Following the completion of the transaction, the director now owns 3,493 shares in the company, valued at $1,715,691.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tyler Technologies news, Director Daniel M. Pope sold 520 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total transaction of $255,413.60. Following the completion of the transaction, the director now owns 3,493 shares in the company, valued at $1,715,691.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 1,849 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $421.19, for a total value of $778,780.31. Following the transaction, the chief executive officer now owns 79,502 shares of the company’s stock, valued at approximately $33,485,447.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,549 shares of company stock worth $23,571,620. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TYL. Kapitalo Investimentos Ltda purchased a new position in shares of Tyler Technologies during the fourth quarter valued at approximately $26,000. Covestor Ltd boosted its holdings in shares of Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after purchasing an additional 43 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Tyler Technologies in the fourth quarter valued at approximately $31,000. Headlands Technologies LLC purchased a new stake in shares of Tyler Technologies in the fourth quarter valued at approximately $40,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Tyler Technologies by 675.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the technology company’s stock valued at $40,000 after purchasing an additional 81 shares during the period. 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.