Tyler Technologies (NYSE:TYL) Given New $285.00 Price Target at Benchmark

Tyler Technologies (NYSE:TYL) had its price objective lifted by Benchmark from $235.00 to $285.00 in a research report released on Friday morning, BenzingaRatingsTable reports. They currently have a buy rating on the technology company’s stock.

Several other research analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Tyler Technologies from a sell rating to a hold rating in a research report on Friday, July 5th. ValuEngine upgraded shares of Tyler Technologies from a hold rating to a buy rating in a research report on Tuesday, July 2nd. Northland Securities restated a buy rating on shares of Tyler Technologies in a research report on Thursday. Finally, KeyCorp restated a hold rating on shares of Tyler Technologies in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $249.50.

TYL traded up $1.91 during trading on Friday, hitting $248.75. 625,708 shares of the stock traded hands, compared to its average volume of 143,912. Tyler Technologies has a twelve month low of $173.26 and a twelve month high of $252.47. The firm has a market cap of $8.95 billion, a P/E ratio of 66.51 and a beta of 0.92. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.00 and a current ratio of 1.00. The business’s 50 day moving average is $223.89.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.06 EPS for the quarter, beating the consensus estimate of $1.01 by $0.05. Tyler Technologies had a net margin of 12.96% and a return on equity of 11.55%. The business had revenue of $275.10 million during the quarter, compared to the consensus estimate of $274.88 million. During the same period in the previous year, the business earned $1.18 earnings per share. The company’s revenue was up 16.5% on a year-over-year basis. On average, analysts forecast that Tyler Technologies will post 4.17 EPS for the current year.

In other news, Director Luther King, Jr. sold 967 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $217.70, for a total transaction of $210,515.90. Following the completion of the transaction, the director now directly owns 77,864 shares in the company, valued at $16,950,992.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian K. Miller sold 4,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $220.65, for a total transaction of $882,600.00. Following the transaction, the vice president now owns 47,932 shares of the company’s stock, valued at $10,576,195.80. The disclosure for this sale can be found here. Insiders have sold 59,636 shares of company stock valued at $13,101,345 over the last quarter. Company insiders own 4.40% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Icon Wealth Partners LLC acquired a new stake in Tyler Technologies in the first quarter valued at $53,000. Tompkins Financial Corp increased its holdings in Tyler Technologies by 42.0% in the second quarter. Tompkins Financial Corp now owns 291 shares of the technology company’s stock valued at $63,000 after purchasing an additional 86 shares during the period. Advisory Services Network LLC increased its holdings in Tyler Technologies by 42.3% in the second quarter. Advisory Services Network LLC now owns 313 shares of the technology company’s stock valued at $68,000 after purchasing an additional 93 shares during the period. NEXT Financial Group Inc increased its holdings in Tyler Technologies by 44.2% in the second quarter. NEXT Financial Group Inc now owns 679 shares of the technology company’s stock valued at $147,000 after purchasing an additional 208 shares during the period. Finally, Zions Bancorporation N.A. acquired a new stake in Tyler Technologies in the first quarter valued at $187,000. Institutional investors own 88.45% of the company’s stock.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.

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Analyst Recommendations for Tyler Technologies (NYSE:TYL)

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