Tyler Technologies, Inc. (NYSE:TYL) Receives $607.57 Consensus Price Target from Brokerages

Shares of Tyler Technologies, Inc. (NYSE:TYL) have received a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $607.5714.

A number of analysts have recently weighed in on the stock. Evercore restated a “positive” rating on shares of Tyler Technologies in a report on Friday, October 31st. The Goldman Sachs Group assumed coverage on Tyler Technologies in a research report on Tuesday, January 13th. They set a “buy” rating and a $560.00 price target for the company. Piper Sandler decreased their price objective on shares of Tyler Technologies from $708.00 to $671.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Wells Fargo & Company decreased their price objective on Tyler Technologies from $470.00 to $420.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, DA Davidson reiterated a “neutral” rating and issued a $510.00 target price on shares of Tyler Technologies in a research note on Tuesday, February 3rd.

Tyler Technologies Stock Up 2.2%

Shares of NYSE TYL opened at $348.49 on Thursday. The firm has a market cap of $15.00 billion, a PE ratio of 48.47, a price-to-earnings-growth ratio of 2.35 and a beta of 0.91. Tyler Technologies has a twelve month low of $320.23 and a twelve month high of $661.31. The business has a fifty day simple moving average of $436.77 and a two-hundred day simple moving average of $494.01.

Insider Activity at Tyler Technologies

In other news, Director Glenn A. Carter sold 500 shares of the stock in a transaction that occurred 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 transaction, the director owned 3,172 shares in the company, valued at $1,455,091.56. This trade represents a 13.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brian K. Miller sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $469.08, for a total transaction of $469,080.00. Following the completion of the sale, the chief financial officer directly owned 12,781 shares of the company’s stock, valued at approximately $5,995,311.48. The trade was a 7.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 3,500 shares of company stock valued at $1,605,605. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

A number of large investors have recently modified their holdings of TYL. Meridian Wealth Management LLC grew its stake in shares of Tyler Technologies by 2.1% in the 2nd quarter. Meridian Wealth Management LLC now owns 942 shares of the technology company’s stock valued at $558,000 after buying an additional 19 shares in the last quarter. Cerity Partners LLC lifted its stake in Tyler Technologies by 0.6% in the second quarter. Cerity Partners LLC now owns 2,959 shares of the technology company’s stock valued at $1,754,000 after acquiring an additional 19 shares during the last quarter. Nordea Investment Management AB grew its position in Tyler Technologies by 0.6% in the second quarter. Nordea Investment Management AB now owns 3,537 shares of the technology company’s stock worth $2,068,000 after acquiring an additional 20 shares in the last quarter. Signaturefd LLC increased its stake in shares of Tyler Technologies by 3.9% during the 3rd 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. Finally, Coldstream Capital Management Inc. raised its holdings in shares of Tyler Technologies by 2.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,167 shares of the technology company’s stock valued at $611,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Company Profile

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.