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Tyler Technologies (NYSE:TYL) shares rise 4%


Tyler Technologies, Inc. (NYSE:TYL – Get Free Report) jumped 4% on Tuesday. The stock rose as high as $519.44 and was last seen at $519.44. During midday trading, 11,569 shares traded hands, a 95% decline from the average session volume of 220,492 shares. The stock had previously closed at $499.52.

Changes in analyst ratings

Several brokerage firms have recently commented on TYL. Oppenheimer increased their price target on Tyler Technologies from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday, May 22nd. Needham & Company LLC increased their price target on Tyler Technologies from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. BTIG Research increased their price target on Tyler Technologies from $515.00 to $550.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Piper Sandler reiterated an “overweight” rating and gave shares of Tyler Technologies a $520.00 price target in a report on Wednesday, April 24th. Finally, Robert W. Baird raised their price target on Tyler Technologies from $500.00 to $525.00 and gave the stock an “outperform” rating in a report on Friday, April 26. Three analysts have rated the stock with a “hold” rating and nine have given it a “buy” rating. The company currently has a consensus rating of “moderate buy” and an average price target of $519.09, according to data from MarketBeat.com.

Get our latest report on TYL

Price development of Tyler Technologies

The stock’s moving average price is $481.96 for the last 50 days and $443.58 for the last 200 days. The company has a market cap of $21.57 billion, a P/E ratio of 114.91, a PEG ratio of 4.78 and a beta of 0.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94.

Tyler Technologies (NYSE:TYL – Get Free Report) last announced its quarterly earnings results on Wednesday, April 24. The technology company reported earnings per share (EPS) of $1.74 for the quarter, beating analysts’ consensus estimates of $1.48 by $0.26. The company had revenue of $512.36 million for the quarter, compared to the consensus estimate of $507.79 million. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. Sell-side analysts forecast that Tyler Technologies, Inc. will report earnings per share of $7.1 for the current fiscal year.

Insider transactions at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock on Tuesday, May 14. The shares were sold at an average price of $483.21, for a total value of $2,899,260.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $3,374,255.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC’s website. In other news, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock on Tuesday, May 14. The shares were sold at an average price of $483.21, for a total value of $2,899,260.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $3,374,255.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC’s website. Also, CEO H. Lynn Moore, Jr. sold 5,250 shares of the company’s stock in a transaction that occurred on Tuesday, May 7. The shares were sold at an average price of $481.83, for a total value of $2,529,607.50. Following the completion of the sale, the CEO now directly owns 75,000 shares of the company’s stock, valued at approximately $36,137,250. The disclosure regarding this sale can be found here. Insiders sold 26,241 shares of the company’s stock during the last quarter, valued at $12,495,890. 1.50% of the shares are currently owned by company insiders.

Institutional trading with Tyler Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda acquired a new stake in Tyler Technologies in the 4th quarter valued at about $26,000. Covestor Ltd increased its position in Tyler Technologies by 153.6% in the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after acquiring an additional 43 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Tyler Technologies in the 4th quarter valued at about $31,000. Headlands Technologies LLC acquired a new stake in Tyler Technologies in the 4th quarter valued at about $40,000. Finally, Larson Financial Group LLC increased its position in Tyler Technologies by 675.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the technology company’s stock valued at $40,000 after acquiring an additional 81 shares during the same period. Institutional investors and hedge funds own 93.30% of the company’s stock.

About Tyler Technologies

(Get free report)

Tyler Technologies, Inc. provides integrated information management solutions and services to the public sector. The company operates in two segments: Enterprise Software and Platform Technologies. The company provides platform and transformative technology solutions, including cybersecurity for government agencies, data and insights solutions, digital solutions that help workers and policymakers share, communicate and use data, payment solutions such as invoicing, presentment, merchant onboarding, collections, reconciliation and disbursements, platform technologies, an application development platform that enables government employees to build solutions and applications, and outdoor recreation solutions, including campground reservations, activity registrations, license sales and renewals, and real-time data for conservation and park management.

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