Tyler Technologies (TYL) Given New $245.00 Price Target at JMP Securities

Tyler Technologies (NYSE:TYL) had its price target decreased by JMP Securities from $250.00 to $245.00 in a report issued on Thursday. JMP Securities currently has a market outperform rating on the technology company’s stock.

Several other research analysts have also weighed in on TYL. Zacks Investment Research lowered shares of Tyler Technologies from a buy rating to a hold rating in a report on Thursday, August 2nd. B. Riley increased their price objective on shares of Tyler Technologies from $200.00 to $206.00 and gave the stock a neutral rating in a report on Monday, July 30th. Finally, Robert W. Baird reiterated a buy rating and set a $260.00 price objective (up from $240.00) on shares of Tyler Technologies in a report on Friday, July 27th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $233.36.

Tyler Technologies stock opened at $194.37 on Thursday. Tyler Technologies has a 12-month low of $168.12 and a 12-month high of $252.47. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 61.12, a PEG ratio of 5.15 and a beta of 0.92.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 31st. The technology company reported $1.23 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.23. The company had revenue of $236.10 million for the quarter, compared to analysts’ expectations of $240.98 million. Tyler Technologies had a net margin of 19.47% and a return on equity of 11.19%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $1.05 EPS. Sell-side analysts predict that Tyler Technologies will post 3.78 earnings per share for the current fiscal year.

In related news, Director Glenn A. Carter sold 1,225 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $242.40, for a total value of $296,940.00. Following the transaction, the director now owns 1,725 shares in the company, valued at $418,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO H Lynn Moore, Jr. sold 9,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $245.27, for a total transaction of $2,256,484.00. Following the completion of the transaction, the chief executive officer now owns 67,147 shares in the company, valued at approximately $16,469,144.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,397 shares of company stock worth $32,234,944. Insiders own 4.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Zions Bancorporation purchased a new position in Tyler Technologies in the third quarter valued at approximately $224,000. Engineers Gate Manager LP purchased a new position in Tyler Technologies in the third quarter valued at approximately $208,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in Tyler Technologies by 1.2% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 69,685 shares of the technology company’s stock valued at $17,077,000 after buying an additional 840 shares during the period. USA Financial Portformulas Corp purchased a new position in Tyler Technologies in the third quarter valued at approximately $783,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in Tyler Technologies by 390.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 574 shares of the technology company’s stock valued at $141,000 after buying an additional 457 shares during the period. Hedge funds and other institutional investors own 92.11% of the company’s stock.

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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