Tyler Technologies (TYL) Rating Reiterated by Piper Jaffray Companies

Tyler Technologies (NYSE:TYL)‘s stock had its “overweight” rating reiterated by investment analysts at Piper Jaffray Companies in a research note issued to investors on Tuesday. They currently have a $220.00 price target on the technology company’s stock. Piper Jaffray Companies’ price objective suggests a potential upside of 15.01% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. Needham & Company LLC reissued a “buy” rating on shares of Tyler Technologies in a research report on Tuesday, October 24th. Zacks Investment Research cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, December 2nd. B. Riley cut shares of Tyler Technologies from a “buy” rating to a “neutral” rating and set a $184.00 price target for the company. in a research report on Friday, October 27th. Citigroup started coverage on shares of Tyler Technologies in a research report on Friday, September 22nd. They issued a “buy” rating and a $200.00 price target for the company. Finally, KeyCorp reissued a “buy” rating and issued a $180.00 price target on shares of Tyler Technologies in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $195.50.

Shares of Tyler Technologies (NYSE:TYL) traded up $1.65 during mid-day trading on Tuesday, reaching $191.28. 115,900 shares of the company’s stock traded hands, compared to its average volume of 147,009. Tyler Technologies has a 52 week low of $143.38 and a 52 week high of $192.39. The stock has a market cap of $7,124.05, a PE ratio of 56.09 and a beta of 0.98.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.03. Tyler Technologies had a net margin of 16.34% and a return on equity of 12.81%. The company had revenue of $214.15 million during the quarter, compared to analysts’ expectations of $216.80 million. During the same quarter last year, the company posted $0.94 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. analysts forecast that Tyler Technologies will post 3.28 EPS for the current year.

In other news, VP Brian K. Miller sold 5,000 shares of Tyler Technologies stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $176.86, for a total transaction of $884,300.00. Following the completion of the sale, the vice president now directly owns 55,694 shares of the company’s stock, valued at approximately $9,850,040.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Larry D. Leinweber sold 64,612 shares of Tyler Technologies stock in a transaction on Friday, December 15th. The stock was sold at an average price of $180.85, for a total transaction of $11,685,080.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 352,207 shares of company stock valued at $63,349,769. Corporate insiders own 10.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in TYL. Schwab Charles Investment Management Inc. lifted its position in shares of Tyler Technologies by 4.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 98,579 shares of the technology company’s stock worth $17,318,000 after purchasing an additional 4,508 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of Tyler Technologies during the 2nd quarter worth $776,000. Prudential Financial Inc. lifted its position in shares of Tyler Technologies by 1.1% during the 2nd quarter. Prudential Financial Inc. now owns 23,459 shares of the technology company’s stock worth $4,121,000 after purchasing an additional 266 shares during the last quarter. Wells Fargo & Company MN raised its stake in Tyler Technologies by 7.4% during the 2nd quarter. Wells Fargo & Company MN now owns 41,278 shares of the technology company’s stock worth $7,252,000 after acquiring an additional 2,833 shares in the last quarter. Finally, Riverhead Capital Management LLC raised its stake in Tyler Technologies by 60.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,930 shares of the technology company’s stock worth $339,000 after acquiring an additional 730 shares in the last quarter. 91.76% of the stock is owned by institutional investors and hedge funds.

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Tyler Technologies Company Profile

Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company operates through two segments: Enterprise Software (ES) segment and The Appraisal and Tax (A&T) segment. ES segment provides municipal and county governments and schools with software systems and services for information technology and automation needs that includes back-office functions, such as financial management, courts and justice processes, public safety, planning regulatory and maintenance, and land and vital records management.

Analyst Recommendations for Tyler Technologies (NYSE:TYL)

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