Oppenheimer Lowers Tyler Technologies (NYSE:TYL) Price Target to $510.00

Tyler Technologies (NYSE:TYL) had its price target dropped by analysts at Oppenheimer from $600.00 to $510.00 in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price objective would indicate a potential upside of 17.32% from the company’s current price.

A number of other equities analysts have also recently issued reports on TYL. TD Cowen initiated coverage on Tyler Technologies in a report on Friday, December 12th. They issued a “buy” rating on the stock. Stifel Nicolaus began coverage on Tyler Technologies in a research report on Wednesday, January 7th. They issued a “buy” rating and a $550.00 price target for the company. Evercore ISI restated a “positive” rating on shares of Tyler Technologies in a research report on Friday, October 31st. Piper Sandler lowered their price objective on shares of Tyler Technologies from $708.00 to $671.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Finally, UBS Group reissued an “overweight” rating on shares of Tyler Technologies in a research note on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $611.14.

Tyler Technologies Trading Down 1.3%

NYSE:TYL opened at $434.72 on Friday. The company has a 50-day moving average of $454.72 and a 200-day moving average of $507.01. The firm has a market cap of $18.71 billion, a price-to-earnings ratio of 60.46, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. Tyler Technologies has a twelve month low of $427.65 and a twelve month high of $661.31.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 29th. The technology company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.88 by $0.09. The business had revenue of $595.88 million for the quarter, compared to the consensus estimate of $594.34 million. Tyler Technologies had a net margin of 13.72% and a return on equity of 10.57%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.52 EPS. Tyler Technologies has set its FY 2025 guidance at 11.300-11.500 EPS. On average, research analysts forecast that Tyler Technologies will post 8.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Glenn A. Carter sold 500 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $458.73, for a total transaction of $229,365.00. Following the completion of the sale, the director directly owned 3,172 shares in the company, valued at approximately $1,455,091.56. This trade represents a 13.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 1,000 shares of Tyler Technologies stock in a transaction on Monday, December 15th. The shares were sold at an average price of $448.51, for a total value of $448,510.00. Following the sale, the chief financial officer directly owned 17,148 shares of the company’s stock, valued at approximately $7,691,049.48. The trade was a 5.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,500 shares of company stock valued at $1,605,605 in the last three months. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Several hedge funds have recently bought and sold shares of the business. Mather Group LLC. raised its position in shares of Tyler Technologies by 5.3% during the 2nd quarter. Mather Group LLC. now owns 379 shares of the technology company’s stock valued at $225,000 after buying an additional 19 shares in the last quarter. Meridian Wealth Management LLC increased its stake in Tyler Technologies by 2.1% in the second quarter. Meridian Wealth Management LLC now owns 942 shares of the technology company’s stock valued at $558,000 after acquiring an additional 19 shares during the last quarter. Cerity Partners LLC raised its position in Tyler Technologies by 0.6% during the second quarter. Cerity Partners LLC now owns 2,959 shares of the technology company’s stock valued at $1,754,000 after purchasing an additional 19 shares in the last quarter. Nordea Investment Management AB raised its position in Tyler Technologies by 0.6% during the second quarter. Nordea Investment Management AB now owns 3,537 shares of the technology company’s stock valued at $2,068,000 after purchasing an additional 20 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Tyler Technologies by 3.9% during the third quarter. Signaturefd LLC now owns 613 shares of the technology company’s stock worth $321,000 after purchasing an additional 23 shares during the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.