Tyler Technologies (NYSE:TYL) had its price target increased by Needham & Company LLC from $235.00 to $250.00 in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the technology company’s stock.
Several other equities research analysts also recently commented on the company. Piper Jaffray reissued a buy rating and issued a $245.00 target price on shares of Tyler Technologies in a report on Monday. Maxim Group reissued a hold rating on shares of Tyler Technologies in a report on Monday. DA Davidson boosted their target price on Tyler Technologies from $190.00 to $200.00 and gave the stock a neutral rating in a report on Monday. Benchmark reissued a buy rating and issued a $250.00 target price (up from $225.00) on shares of Tyler Technologies in a report on Thursday, April 19th. Finally, Zacks Investment Research raised Tyler Technologies from a hold rating to a buy rating and set a $234.00 target price on the stock in a report on Thursday, April 12th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $221.08.
Shares of TYL stock opened at $223.05 on Tuesday. The firm has a market capitalization of $8,585.71, a P/E ratio of 70.14 and a beta of 0.91. Tyler Technologies has a twelve month low of $159.49 and a twelve month high of $230.82.
Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 21st. The technology company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.03. Tyler Technologies had a return on equity of 12.49% and a net margin of 19.50%. The business had revenue of $217.85 million for the quarter, compared to the consensus estimate of $220.56 million. During the same period in the previous year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. analysts predict that Tyler Technologies will post 3.87 EPS for the current year.
In other news, Director Luther King, Jr. sold 23,350 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $202.47, for a total transaction of $4,727,674.50. Following the transaction, the director now directly owns 72,864 shares of the company’s stock, valued at $14,752,774.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dustin R. Womble sold 7,500 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $203.71, for a total value of $1,527,825.00. Following the transaction, the director now directly owns 16,570 shares in the company, valued at $3,375,474.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 114,582 shares of company stock worth $23,816,504. Corporate insiders own 4.70% of the company’s stock.
Several large investors have recently made changes to their positions in TYL. Wells Fargo & Company MN lifted its holdings in shares of Tyler Technologies by 12.2% during the third quarter. Wells Fargo & Company MN now owns 46,322 shares of the technology company’s stock valued at $8,075,000 after purchasing an additional 5,044 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Tyler Technologies during the third quarter valued at $444,000. Janney Montgomery Scott LLC lifted its holdings in shares of Tyler Technologies by 43.5% during the third quarter. Janney Montgomery Scott LLC now owns 2,764 shares of the technology company’s stock valued at $482,000 after purchasing an additional 838 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Tyler Technologies by 2.4% during the third quarter. California Public Employees Retirement System now owns 77,015 shares of the technology company’s stock valued at $13,425,000 after purchasing an additional 1,815 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Tyler Technologies by 6.4% during the third quarter. Parametric Portfolio Associates LLC now owns 76,513 shares of the technology company’s stock valued at $13,338,000 after purchasing an additional 4,600 shares in the last quarter. 94.37% of the stock is currently owned by hedge funds and other institutional investors.
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Tyler Technologies Company Profile
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. It operates through two segments, Enterprise Software, and Appraisal and Tax. The company's financial management solutions include modular fund accounting systems for government agencies or not-for-profit entities; and utility billing systems for the billing and collection of metered and non-metered services.
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