Tyler Technologies (NYSE:TYL) Price Target Increased to $280.00 by Analysts at Needham & Company LLC

Tyler Technologies (NYSE:TYL) had its price target increased by Needham & Company LLC to $280.00 in a research note published on Friday, The Fly reports. The brokerage currently has a buy rating on the technology company’s stock.

TYL has been the subject of a number of other research reports. Benchmark upped their price objective on shares of Tyler Technologies from $235.00 to $285.00 and gave the company a buy rating in a research note on Friday. KeyCorp reaffirmed a hold rating on shares of Tyler Technologies in a research note on Thursday. Zacks Investment Research raised shares of Tyler Technologies from a sell rating to a hold rating in a research note on Friday, July 5th. Northland Securities reissued a buy rating on shares of Tyler Technologies in a research report on Thursday. Finally, ValuEngine raised shares of Tyler Technologies from a hold rating to a buy rating in a research report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $249.50.

Shares of Tyler Technologies stock traded up $1.91 during trading on Friday, reaching $248.75. The company’s stock had a trading volume of 625,708 shares, compared to its average volume of 143,912. Tyler Technologies has a 52-week low of $173.26 and a 52-week high of $252.47. The company has a market cap of $8.95 billion, a P/E ratio of 66.51 and a beta of 0.92. The firm has a 50-day simple moving average of $223.89. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $275.10 million during the quarter, compared to analysts’ expectations of $274.88 million. During the same quarter in the prior year, the company earned $1.18 EPS. The firm’s revenue was up 16.5% on a year-over-year basis. As a group, analysts predict that Tyler Technologies will post 4.17 EPS for the current fiscal year.

In other Tyler Technologies news, VP Brian K. Miller sold 4,000 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $220.65, for a total transaction of $882,600.00. Following the completion of the sale, the vice president now owns 47,932 shares of the company’s stock, valued at approximately $10,576,195.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO H Lynn Moore, Jr. sold 6,000 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $216.10, for a total transaction of $1,296,600.00. Following the sale, the chief executive officer now directly owns 68,380 shares of the company’s stock, valued at approximately $14,776,918. The disclosure for this sale can be found here. Insiders have sold a total of 59,636 shares of company stock valued at $13,101,345 in the last three months. 4.40% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Icon Wealth Partners LLC bought a new position in Tyler Technologies in the 1st quarter worth $53,000. Tompkins Financial Corp raised its holdings in Tyler Technologies by 42.0% in the 2nd quarter. Tompkins Financial Corp now owns 291 shares of the technology company’s stock worth $63,000 after purchasing an additional 86 shares in the last quarter. Advisory Services Network LLC raised its holdings in Tyler Technologies by 42.3% in the 2nd quarter. Advisory Services Network LLC now owns 313 shares of the technology company’s stock worth $68,000 after purchasing an additional 93 shares in the last quarter. Ellis Investment Partners LLC bought a new position in Tyler Technologies in the 1st quarter worth $76,000. Finally, NEXT Financial Group Inc raised its holdings in Tyler Technologies by 44.2% in the 2nd quarter. NEXT Financial Group Inc now owns 679 shares of the technology company’s stock worth $147,000 after purchasing an additional 208 shares in the last quarter. Institutional investors and hedge funds 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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