BTIG Research Issues Pessimistic Forecast for Tyler Technologies (NYSE:TYL) Stock Price

Tyler Technologies (NYSE:TYL) had its price target cut by BTIG Research from $560.00 to $470.00 in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the technology company’s stock. BTIG Research’s price objective would suggest a potential upside of 30.33% from the stock’s current price.

TYL has been the topic of a number of other reports. Needham & Company LLC restated a “buy” rating and issued a $750.00 price objective on shares of Tyler Technologies in a research note on Tuesday, February 3rd. Robert W. Baird set a $660.00 target price on shares of Tyler Technologies in a research note on Friday, October 31st. Piper Sandler dropped their price target on shares of Tyler Technologies from $708.00 to $671.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Stifel Nicolaus started coverage on shares of Tyler Technologies in a report on Wednesday, January 7th. They issued a “buy” rating and a $550.00 price objective for the company. Finally, Evercore reissued a “positive” rating on shares of Tyler Technologies in a report on Friday, October 31st. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $601.14.

Tyler Technologies Trading Up 1.5%

Tyler Technologies stock opened at $360.62 on Monday. The business’s 50 day simple moving average is $432.55 and its 200 day simple moving average is $490.73. Tyler Technologies has a 12 month low of $320.23 and a 12 month high of $661.31. The company has a market cap of $15.52 billion, a price-to-earnings ratio of 50.16, a PEG ratio of 2.39 and a beta of 0.91.

Insider Buying and Selling at Tyler Technologies

In other news, Director Glenn A. Carter sold 500 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $458.73, for a total transaction of $229,365.00. Following the completion of the transaction, the director directly owned 3,172 shares in the company, valued at $1,455,091.56. The trade was a 13.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian K. Miller sold 1,000 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $469.08, for a total value of $469,080.00. Following the completion of the sale, the chief financial officer owned 12,781 shares in the company, valued at $5,995,311.48. This trade represents a 7.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 3,500 shares of company stock valued at $1,605,605. Insiders own 1.10% of the company’s stock.

Institutional Trading of Tyler Technologies

A number of large investors have recently modified their holdings of the business. Generali Asset Management SPA SGR bought a new position in shares of Tyler Technologies in the second quarter worth approximately $30,000. Root Financial Partners LLC bought a new stake in Tyler Technologies during the third quarter valued at approximately $28,000. Twin Peaks Wealth Advisors LLC purchased a new position in Tyler Technologies in the 2nd quarter worth approximately $32,000. Salomon & Ludwin LLC increased its holdings in shares of Tyler Technologies by 6,100.0% in the 4th quarter. Salomon & Ludwin LLC now owns 62 shares of the technology company’s stock worth $27,000 after buying an additional 61 shares during the last quarter. Finally, Elyxium Wealth LLC purchased a new stake in shares of Tyler Technologies during the 4th quarter valued at $29,000. 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.