Tyler Technologies, Inc. (NYSE:TYL) has been assigned a $197.00 price objective by equities researchers at Maxim Group in a research note issued to investors on Monday. The firm currently has a “buy” rating on the technology company’s stock. Maxim Group’s target price points to a potential upside of 11.89% from the stock’s previous close.
The analysts wrote, “On June 30th, Vermont announced that it has selected TYL’s Odyssey case management system to implement statewide and roll-out by 2021.””
Other research analysts have also issued reports about the company. B. Riley reissued a “buy” rating and issued a $184.00 price target on shares of Tyler Technologies in a research report on Sunday, May 14th. Zacks Investment Research lowered Tyler Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 13th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $187.00.
Tyler Technologies (TYL) opened at 176.06 on Monday. Tyler Technologies has a 12-month low of $139.61 and a 12-month high of $178.69. The company has a market cap of $6.53 billion, a P/E ratio of 55.35 and a beta of 0.96. The firm has a 50-day moving average price of $172.38 and a 200-day moving average price of $160.31.
Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, April 26th. The technology company reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.01. The business had revenue of $199.54 million during the quarter, compared to analyst estimates of $199.76 million. Tyler Technologies had a return on equity of 13.77% and a net margin of 16.19%. Tyler Technologies’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 EPS. On average, equities research analysts forecast that Tyler Technologies will post $3.88 earnings per share for the current fiscal year.
In related news, Director Larry D. Leinweber sold 36,000 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $170.98, for a total transaction of $6,155,280.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Larry D. Leinweber sold 84,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $165.51, for a total value of $13,902,840.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 391,147 shares of company stock valued at $65,619,550. Corporate insiders own 10.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its position in shares of Tyler Technologies by 22.0% in the fourth quarter. Renaissance Technologies LLC now owns 73,700 shares of the technology company’s stock valued at $10,522,000 after buying an additional 13,300 shares in the last quarter. Numeric Investors LLC acquired a new position in shares of Tyler Technologies during the fourth quarter valued at about $357,000. Norges Bank acquired a new position in shares of Tyler Technologies during the fourth quarter valued at about $52,677,000. Quadrature Capital Ltd acquired a new position in shares of Tyler Technologies during the fourth quarter valued at about $1,301,000. Finally, Teachers Advisors LLC raised its position in shares of Tyler Technologies by 2.9% in the fourth quarter. Teachers Advisors LLC now owns 46,469 shares of the technology company’s stock valued at $6,634,000 after buying an additional 1,305 shares in the last quarter. 89.88% of the stock is currently owned by institutional investors.
About Tyler Technologies
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.
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