Tyler Technologies (NYSE:TYL) PT Lowered to $500.00 at Truist Financial – MarketBeat

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Tyler Technologies (NYSE:TYL – Get Rating) had its target price dropped by Truist Financial from $550.00 to $500.00 in a research note issued to investors on Tuesday, The Fly reports. Truist Financial’s price target would suggest a potential upside of 49.75% from the company’s current price.
TYL has been the topic of a number of other research reports. Wells Fargo & Company raised Tyler Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $425.00 to $435.00 in a report on Tuesday, June 7th. Barclays started coverage on Tyler Technologies in a research report on Monday, March 14th. They issued an “equal weight” rating and a $445.00 price objective for the company. DA Davidson upgraded Tyler Technologies from a “neutral” rating to a “buy” rating and set a $440.00 target price for the company in a research report on Thursday, May 26th. They noted that the move was a valuation call. StockNews.com started coverage on Tyler Technologies in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Loop Capital initiated coverage on Tyler Technologies in a research report on Monday, April 18th. They issued a “buy” rating and a $520.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $512.75.
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Shares of Tyler Technologies stock opened at $333.88 on Tuesday. The stock has a 50-day moving average price of $347.81 and a 200 day moving average price of $414.99. The company has a market cap of $13.85 billion, a P/E ratio of 86.05 and a beta of 0.83. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.54. Tyler Technologies has a 1 year low of $300.85 and a 1 year high of $557.55.
Tyler Technologies (NYSE:TYL – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The technology company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.12. Tyler Technologies had a return on equity of 10.62% and a net margin of 9.38%. The company had revenue of $456.11 million during the quarter, compared to the consensus estimate of $435.29 million. During the same period last year, the business earned $1.08 EPS. On average, equities analysts forecast that Tyler Technologies will post 5.73 earnings per share for the current fiscal year.
In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $358.97, for a total transaction of $897,425.00. Following the completion of the sale, the chief financial officer now directly owns 28,594 shares in the company, valued at approximately $10,264,388.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $363.75, for a total value of $2,182,500.00. Following the completion of the sale, the chairman now owns 57,638 shares of the company’s stock, valued at $20,965,822.50. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. LPL Financial LLC lifted its position in Tyler Technologies by 39.8% in the 3rd quarter. LPL Financial LLC now owns 5,468 shares of the technology company’s stock valued at $2,508,000 after acquiring an additional 1,556 shares in the last quarter. Two Sigma Advisers LP bought a new position in Tyler Technologies in the 3rd quarter valued at about $413,000. State of Alaska Department of Revenue lifted its position in Tyler Technologies by 3.4% in the 4th quarter. State of Alaska Department of Revenue now owns 7,129 shares of the technology company’s stock valued at $3,834,000 after acquiring an additional 237 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in Tyler Technologies by 4.0% in the 4th quarter. Louisiana State Employees Retirement System now owns 2,600 shares of the technology company’s stock valued at $1,399,000 after acquiring an additional 100 shares in the last quarter. Finally, Spire Wealth Management lifted its position in Tyler Technologies by 10.0% in the 4th quarter. Spire Wealth Management now owns 242 shares of the technology company’s stock valued at $130,000 after acquiring an additional 22 shares in the last quarter. Institutional investors own 90.14% of the company’s stock.
About Tyler Technologies (Get Rating)
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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Analyst Recommendations for Tyler Technologies (NYSE:TYL)
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