Tyler Technologies (NYSE:TYL) Given New $470.00 Price Target at BTIG Research

Tyler Technologies (NYSE:TYL) had its price objective cut by research analysts at BTIG Research from $560.00 to $470.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. BTIG Research’s target price indicates a potential upside of 34.87% from the stock’s current price.

Several other equities research analysts have also commented on the company. The Goldman Sachs Group began coverage on Tyler Technologies in a research report on Tuesday, January 13th. They issued a “buy” rating and a $560.00 price objective on the stock. Piper Sandler lowered their price target on shares of Tyler Technologies from $708.00 to $671.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Oppenheimer dropped their price target on shares of Tyler Technologies from $600.00 to $510.00 and set an “outperform” rating on the stock in a research report on Friday, January 23rd. Stifel Nicolaus initiated coverage on shares of Tyler Technologies in a report on Wednesday, January 7th. They issued a “buy” rating and a $550.00 price objective for the company. Finally, DA Davidson reissued a “neutral” rating and set a $510.00 target price on shares of Tyler Technologies in a research note on Tuesday, February 3rd. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $601.14.

Tyler Technologies Trading Up 2.2%

Shares of NYSE TYL opened at $348.49 on Monday. The stock has a market cap of $15.00 billion, a price-to-earnings ratio of 48.47, a PEG ratio of 2.35 and a beta of 0.91. Tyler Technologies has a 12 month low of $320.23 and a 12 month high of $661.31. The company has a 50 day simple moving average of $436.77 and a two-hundred day simple moving average of $493.54.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 1,000 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $448.51, for a total transaction of $448,510.00. Following the completion of the transaction, the chief financial officer owned 17,148 shares of the company’s stock, valued at $7,691,049.48. This represents a 5.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Glenn A. Carter sold 500 shares of Tyler Technologies stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $458.73, for a total value of $229,365.00. Following the completion of the sale, the director directly owned 3,172 shares in the company, valued at $1,455,091.56. This represents a 13.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 3,500 shares of company stock valued at $1,605,605. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tyler Technologies

A number of large investors have recently modified their holdings of the business. Salomon & Ludwin LLC boosted its position in Tyler Technologies by 6,100.0% during the fourth quarter. Salomon & Ludwin LLC now owns 62 shares of the technology company’s stock worth $27,000 after acquiring an additional 61 shares during the last quarter. Root Financial Partners LLC purchased a new position in Tyler Technologies in the 3rd quarter worth approximately $28,000. Elyxium Wealth LLC acquired a new position in shares of Tyler Technologies during the 4th quarter worth approximately $29,000. Generali Asset Management SPA SGR acquired a new position in shares of Tyler Technologies during the 2nd quarter worth approximately $30,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Tyler Technologies in the second quarter valued at approximately $32,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Company Profile

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.