Needham & Company LLC Reaffirms “Buy” Rating for Tyler Technologies (NYSE:TYL)

Tyler Technologies (NYSE:TYL)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They currently have a $500.00 price objective on the technology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 19.33% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. JMP Securities reiterated a “market outperform” rating and issued a $490.00 price objective on shares of Tyler Technologies in a report on Friday, February 16th. Piper Sandler reiterated an “overweight” rating and issued a $520.00 price objective on shares of Tyler Technologies in a report on Wednesday. JPMorgan Chase & Co. raised their target price on Tyler Technologies from $500.00 to $526.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Finally, DA Davidson raised their target price on Tyler Technologies from $412.00 to $434.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Tyler Technologies has an average rating of “Moderate Buy” and an average target price of $460.46.

Tyler Technologies Trading Up 0.1 %

NYSE TYL opened at $419.00 on Thursday. Tyler Technologies has a fifty-two week low of $361.16 and a fifty-two week high of $454.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50 day simple moving average of $422.70 and a two-hundred day simple moving average of $414.49. The stock has a market cap of $17.78 billion, a P/E ratio of 107.71, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.06. Tyler Technologies had a return on equity of 8.85% and a net margin of 8.50%. The business had revenue of $480.94 million during the quarter, compared to analysts’ expectations of $483.34 million. On average, analysts forecast that Tyler Technologies will post 6.77 earnings per share for the current year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 10,000 shares of Tyler Technologies stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $435.98, for a total transaction of $4,359,800.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $32,698,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,500 shares of Tyler Technologies stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $427.82, for a total value of $2,780,830.00. Following the completion of the sale, the insider now owns 6,400 shares of the company’s stock, valued at approximately $2,738,048. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 10,000 shares of Tyler Technologies stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $435.98, for a total value of $4,359,800.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $32,698,500. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,608 shares of company stock worth $21,974,819. 2.20% of the stock is owned by insiders.

Institutional Trading of Tyler Technologies

Several large investors have recently modified their holdings of the company. First Trust Direct Indexing L.P. grew its holdings in shares of Tyler Technologies by 2.7% in the third quarter. First Trust Direct Indexing L.P. now owns 1,095 shares of the technology company’s stock worth $423,000 after acquiring an additional 29 shares during the period. Baron Wealth Management LLC grew its holdings in shares of Tyler Technologies by 2.0% in the fourth quarter. Baron Wealth Management LLC now owns 1,463 shares of the technology company’s stock worth $612,000 after acquiring an additional 29 shares during the period. Centered Wealth LLC dba Miller Equity Capital Advisors grew its holdings in shares of Tyler Technologies by 0.8% in the fourth quarter. Centered Wealth LLC dba Miller Equity Capital Advisors now owns 3,920 shares of the technology company’s stock worth $1,639,000 after acquiring an additional 30 shares during the period. GW&K Investment Management LLC grew its holdings in shares of Tyler Technologies by 0.3% in the fourth quarter. GW&K Investment Management LLC now owns 12,044 shares of the technology company’s stock worth $5,035,000 after acquiring an additional 31 shares during the period. Finally, Avantax Advisory Services Inc. grew its holdings in shares of Tyler Technologies by 5.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 670 shares of the technology company’s stock worth $280,000 after acquiring an additional 33 shares during the period. 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.