Tyler Technologies’ (TYL) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Tyler Technologies (NYSE:TYL) in a research note released on Friday, Benzinga reports. They currently have a $490.00 price target on the technology company’s stock.

Several other equities analysts have also recently issued reports on the company. Oppenheimer boosted their price objective on Tyler Technologies from $480.00 to $500.00 and gave the company an outperform rating in a report on Friday. Needham & Company LLC reissued a buy rating and issued a $500.00 price objective on shares of Tyler Technologies in a report on Thursday. Robert W. Baird boosted their price objective on Tyler Technologies from $500.00 to $525.00 and gave the company an outperform rating in a report on Friday. JPMorgan Chase & Co. boosted their price objective on Tyler Technologies from $500.00 to $526.00 and gave the company an overweight rating in a report on Thursday, February 15th. Finally, Piper Sandler restated an overweight rating and issued a $520.00 price target on shares of Tyler Technologies in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $465.85.

Tyler Technologies Stock Performance

Shares of TYL opened at $460.74 on Friday. The stock has a 50-day moving average of $423.02 and a two-hundred day moving average of $415.30. Tyler Technologies has a one year low of $361.16 and a one year high of $465.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.94. The stock has a market cap of $19.56 billion, a P/E ratio of 104.24, a P/E/G ratio of 4.51 and a beta of 0.81.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. The company had revenue of $480.94 million during the quarter, compared to analysts’ expectations of $483.34 million. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. As a group, research analysts predict that Tyler Technologies will post 6.77 EPS for the current year.

Insiders Place Their Bets

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $32,698,500. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO H Lynn Moore, Jr. sold 1,849 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $421.19, for a total value of $778,780.31. Following the completion of the sale, the chief executive officer now directly owns 79,502 shares in the company, valued at $33,485,447.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were 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 owns 75,000 shares of the company’s stock, valued at $32,698,500. The disclosure for this sale can be found here. In the last three months, insiders sold 50,608 shares of company stock worth $21,974,819. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Tyler Technologies by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 4,969,048 shares of the technology company’s stock valued at $2,077,658,000 after acquiring an additional 55,629 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Tyler Technologies by 0.4% during the third quarter. Principal Financial Group Inc. now owns 1,268,954 shares of the technology company’s stock worth $489,994,000 after purchasing an additional 5,013 shares in the last quarter. Norges Bank acquired a new position in Tyler Technologies during the fourth quarter worth $459,691,000. Franklin Resources Inc. lifted its stake in Tyler Technologies by 6.7% during the fourth quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock worth $434,987,000 after purchasing an additional 64,889 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Tyler Technologies by 21.1% during the third quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock worth $392,208,000 after purchasing an additional 177,242 shares in the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Company Profile

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.