Tyler Technologies (NYSE:TYL) Given New $700.00 Price Target at Robert W. Baird

Tyler Technologies (NYSE:TYL) had its price target dropped by stock analysts at Robert W. Baird from $785.00 to $700.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s target price would indicate a potential upside of 33.64% from the company’s current price.

Several other research firms also recently issued reports on TYL. StockNews.com upgraded Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Thursday. Wells Fargo & Company decreased their target price on Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Truist Financial reissued a “buy” rating and issued a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and issued a $750.00 price objective on shares of Tyler Technologies in a research note on Thursday. Finally, Barclays lowered their target price on shares of Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating on the stock in a research note on Friday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $674.67.

Tyler Technologies Price Performance

NYSE TYL opened at $523.80 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $22.58 billion, a PE ratio of 86.44, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. Tyler Technologies has a 12-month low of $452.57 and a 12-month high of $661.31. The company has a 50 day moving average price of $577.35 and a two-hundred day moving average price of $593.94.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.22. The business had revenue of $562.43 million during the quarter, compared to analyst estimates of $556.45 million. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. During the same quarter in the previous year, the business earned $2.20 EPS. As a group, equities analysts predict that Tyler Technologies will post 8.52 earnings per share for the current fiscal year.

Insider Transactions at Tyler Technologies

In other news, CFO Brian K. Miller sold 1,550 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total transaction of $951,049.00. Following the sale, the chief financial officer now directly owns 14,026 shares in the company, valued at approximately $8,606,073.08. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,322,477. This trade represents a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,064 shares of company stock worth $8,688,030. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tyler Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC lifted its holdings in shares of Tyler Technologies by 221.4% during the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after acquiring an additional 31 shares during the period. Retirement Wealth Solutions LLC acquired a new position in Tyler Technologies in the first quarter worth about $26,000. Sierra Ocean LLC bought a new position in Tyler Technologies during the fourth quarter worth about $32,000. Brown Brothers Harriman & Co. boosted its holdings in Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after purchasing an additional 42 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in Tyler Technologies during the fourth quarter valued at approximately $40,000. 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.