Tyler Technologies (NYSE:TYL) Price Target Cut to $610.00 by Analysts at Wells Fargo & Company

Tyler Technologies (NYSE:TYL) had its target price trimmed by Wells Fargo & Company from $640.00 to $610.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

A number of other analysts have also recently commented on the company. The Goldman Sachs Group upped their price objective on Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Piper Sandler increased their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Truist Financial restated a “buy” rating and set a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Barclays decreased their price target on shares of Tyler Technologies from $715.00 to $700.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Finally, Needham & Company LLC reissued a “buy” rating and set a $700.00 price objective on shares of Tyler Technologies in a research report on Tuesday, January 21st. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $674.58.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $565.55 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The firm has a market cap of $24.38 billion, a price-to-earnings ratio of 93.33, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. The business has a 50-day simple moving average of $583.37 and a two-hundred day simple moving average of $594.92. Tyler Technologies has a fifty-two week low of $412.70 and a fifty-two week high of $661.31.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. On average, analysts expect that Tyler Technologies will post 8.52 earnings per share for the current year.

Insider Buying and Selling

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $4,322,477. The trade was a 46.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the transaction, the chief executive officer now directly owns 75,734 shares of the company’s stock, valued at $46,772,561.06. This trade represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,064 shares of company stock valued at $8,688,030. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Tyler Technologies

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Tyler Technologies by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company’s stock valued at $3,062,190,000 after purchasing an additional 62,420 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Tyler Technologies by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company’s stock worth $654,406,000 after buying an additional 27,826 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Tyler Technologies by 7.9% in the 4th quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company’s stock worth $567,768,000 after buying an additional 71,869 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Tyler Technologies by 3.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 939,373 shares of the technology company’s stock worth $541,680,000 after buying an additional 35,198 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of 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.