Tyler Technologies (NYSE:TYL)‘s stock had its “overweight” rating reissued by stock analysts at Piper Jaffray Companies in a research note issued to investors on Tuesday, The Fly reports. They currently have a $220.00 price objective on the technology company’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 15.01% from the company’s previous close.
Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Tyler Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. B. Riley lowered shares of Tyler Technologies from a “buy” rating to a “neutral” rating and set a $184.00 price target on the stock. in a research note on Friday, October 27th. Maxim Group set a $197.00 price objective on shares of Tyler Technologies and gave the company a “buy” rating in a research note on Thursday, October 26th. Needham & Company LLC restated a “buy” rating on shares of Tyler Technologies in a research note on Tuesday, October 24th. Finally, KeyCorp restated a “buy” rating and issued a $180.00 price objective on shares of Tyler Technologies in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Tyler Technologies has a consensus rating of “Buy” and a consensus price target of $195.50.
Shares of Tyler Technologies (NYSE:TYL) traded up $1.65 during trading hours on Tuesday, reaching $191.28. 115,900 shares of the company traded hands, compared to its average volume of 147,009. Tyler Technologies has a 12-month low of $143.38 and a 12-month high of $192.39. The firm has a market cap of $7,124.05, a price-to-earnings ratio of 56.09 and a beta of 0.98.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 25th. The technology company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.03. Tyler Technologies had a net margin of 16.34% and a return on equity of 12.81%. The firm had revenue of $214.15 million for the quarter, compared to analyst estimates of $216.80 million. During the same period last year, the business earned $0.94 EPS. Tyler Technologies’s revenue for the quarter was up 10.1% compared to the same quarter last year. analysts anticipate that Tyler Technologies will post 3.28 EPS for the current fiscal year.
In other Tyler Technologies news, VP Brian K. Miller sold 5,000 shares of Tyler Technologies stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $176.86, for a total value of $884,300.00. Following the transaction, the vice president now directly owns 55,694 shares in the company, valued at $9,850,040.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John S. Marr, Jr. sold 17,000 shares of Tyler Technologies stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $184.93, for a total transaction of $3,143,810.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 352,207 shares of company stock worth $63,349,769. 10.30% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Tyler Technologies by 5.7% during the second quarter. Vanguard Group Inc. now owns 2,804,393 shares of the technology company’s stock worth $492,648,000 after acquiring an additional 150,879 shares during the period. BlackRock Inc. increased its stake in shares of Tyler Technologies by 2.0% during the second quarter. BlackRock Inc. now owns 2,793,116 shares of the technology company’s stock worth $490,668,000 after acquiring an additional 55,453 shares during the period. Janus Henderson Group PLC increased its stake in shares of Tyler Technologies by 327.0% during the second quarter. Janus Henderson Group PLC now owns 1,865,432 shares of the technology company’s stock worth $327,700,000 after acquiring an additional 1,428,513 shares during the period. State Street Corp increased its stake in shares of Tyler Technologies by 2.6% during the second quarter. State Street Corp now owns 883,996 shares of the technology company’s stock worth $155,293,000 after acquiring an additional 22,323 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Tyler Technologies by 1.3% during the second quarter. Goldman Sachs Group Inc. now owns 766,672 shares of the technology company’s stock worth $134,682,000 after acquiring an additional 9,969 shares during the period. Institutional investors and hedge funds own 91.76% of the company’s stock.
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Tyler Technologies Company Profile
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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