Barclays Issues Positive Forecast for Tyler Technologies (NYSE:TYL) Stock Price

Tyler Technologies (NYSE:TYL) had its target price upped by Barclays from $705.00 to $715.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Several other research analysts have also recently commented on TYL. Piper Sandler raised their target price on Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research report on Friday. StockNews.com lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Wells Fargo & Company reissued an “equal weight” rating and issued a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Robert W. Baird lifted their price objective on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Truist Financial reissued a “buy” rating and issued a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $656.92.

Tyler Technologies Stock Performance

NYSE:TYL opened at $642.39 on Friday. The firm’s 50-day moving average is $596.21 and its 200-day moving average is $594.15. The company has a market cap of $27.49 billion, a price-to-earnings ratio of 117.22, a PEG ratio of 4.78 and a beta of 0.78. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. Tyler Technologies has a 52-week low of $397.80 and a 52-week high of $661.31.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Equities research analysts anticipate that Tyler Technologies will post 7.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John S. Marr, Jr. sold 12,000 shares of Tyler Technologies stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,285,187.78. The trade was a 63.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the sale, the chief financial officer now directly owns 12,198 shares in the company, valued at approximately $7,709,257.98. This represents a 17.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,502 shares of company stock valued at $18,941,368. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Tyler Technologies by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company’s stock valued at $3,062,190,000 after buying an additional 62,420 shares during the period. Geode Capital Management LLC boosted its holdings in Tyler Technologies by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company’s stock valued at $654,406,000 after acquiring an additional 27,826 shares during the last quarter. Franklin Resources Inc. increased its position in Tyler Technologies by 7.9% in the fourth quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company’s stock worth $567,768,000 after purchasing an additional 71,869 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Tyler Technologies by 3.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 939,373 shares of the technology company’s stock worth $541,680,000 after purchasing an additional 35,198 shares during the last quarter. Finally, Norges Bank acquired a new position in Tyler Technologies during the 4th quarter valued at about $528,465,000. Institutional investors own 93.30% of the company’s stock.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.