Tyler Technologies, Inc. (NYSE:TYL) has been assigned a $197.00 price objective by Maxim Group in a report released on Monday. The firm presently has a “buy” rating on the technology company’s stock. Maxim Group’s price objective suggests a potential upside of 11.86% from the company’s previous close.
The analysts wrote, “On June 30th, Vermont announced that it has selected TYL’s Odyssey case management system to implement statewide and roll-out by 2021.””
Other research analysts also recently issued reports about the company. B. Riley reissued a “buy” rating and issued a $184.00 price objective on shares of Tyler Technologies in a research note on Sunday, May 14th. Zacks Investment Research raised Tyler Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $187.00.
Shares of Tyler Technologies (NYSE TYL) traded up 0.19% during midday trading on Monday, reaching $176.12. 143,879 shares of the company traded hands. The stock has a 50 day moving average price of $170.85 and a 200 day moving average price of $157.60. Tyler Technologies has a 1-year low of $139.61 and a 1-year high of $178.69. The firm has a market capitalization of $6.53 billion, a PE ratio of 55.37 and a beta of 0.96.
Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, April 26th. The technology company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. Tyler Technologies had a return on equity of 13.12% and a net margin of 13.48%. The firm had revenue of $199.54 million during the quarter, compared to the consensus estimate of $199.76 million. During the same period in the prior year, the company earned $0.81 EPS. The firm’s revenue was up 11.3% compared to the same quarter last year. Analysts expect that Tyler Technologies will post $3.88 earnings per share for the current fiscal year.
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In other Tyler Technologies news, Director Larry D. Leinweber sold 36,000 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $163.55, for a total value of $5,887,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Larry D. Leinweber sold 50,415 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $165.96, for a total value of $8,366,873.40. The disclosure for this sale can be found here. Insiders sold a total of 391,147 shares of company stock valued at $65,619,550 over the last ninety days. Corporate insiders own 10.30% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in shares of Tyler Technologies by 42.2% in the first quarter. Goldman Sachs Group Inc. now owns 756,703 shares of the technology company’s stock worth $116,957,000 after buying an additional 224,642 shares during the period. Granite Investment Partners LLC bought a new stake in shares of Tyler Technologies during the first quarter worth about $2,884,000. Sei Investments Co. increased its stake in shares of Tyler Technologies by 19.7% in the first quarter. Sei Investments Co. now owns 71,165 shares of the technology company’s stock worth $10,999,000 after buying an additional 11,708 shares during the period. Norges Bank bought a new stake in shares of Tyler Technologies during the fourth quarter worth about $52,677,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Tyler Technologies by 2.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,180 shares of the technology company’s stock worth $492,000 after buying an additional 67 shares during the period. 89.88% of the stock is owned by institutional investors and hedge funds.
About Tyler Technologies
Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company operates through two segments: Enterprise Software (ES) segment and The Appraisal and Tax (A&T) segment. ES segment provides municipal and county governments and schools with software systems and services for information technology and automation needs that includes back-office functions, such as financial management, courts and justice processes, public safety, planning regulatory and maintenance, and land and vital records management.
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