Tyler Technologies (NYSE:TYL) had its target price upped by equities research analysts at DA Davidson to $200.00 in a research note issued on Monday, The Fly reports. The brokerage presently has a “neutral” rating on the technology company’s stock. DA Davidson’s target price would suggest a potential downside of 11.71% from the stock’s current price.
Several other equities research analysts also recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $250.00 price objective (up previously from $225.00) on shares of Tyler Technologies in a report on Thursday. Zacks Investment Research raised shares of Tyler Technologies from a “hold” rating to a “buy” rating and set a $234.00 price objective for the company in a report on Thursday, April 12th. ValuEngine raised shares of Tyler Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, April 4th. Robert W. Baird assumed coverage on shares of Tyler Technologies in a report on Tuesday, March 13th. They issued an “outperform” rating and a $240.00 price objective for the company. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Tyler Technologies in a report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $214.42.
TYL stock opened at $226.53 on Monday. The stock has a market capitalization of $8,585.71, a P/E ratio of 71.24 and a beta of 0.91. Tyler Technologies has a fifty-two week low of $157.60 and a fifty-two week high of $227.10.
In other Tyler Technologies news, VP Brian K. Miller sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $210.54, for a total value of $1,052,700.00. Following the completion of the sale, the vice president now directly owns 55,114 shares of the company’s stock, valued at approximately $11,603,701.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Luther King, Jr. sold 23,350 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $202.47, for a total transaction of $4,727,674.50. Following the completion of the sale, the director now directly owns 72,864 shares of the company’s stock, valued at $14,752,774.08. The disclosure for this sale can be found here. Insiders sold a total of 114,582 shares of company stock valued at $23,816,504 over the last three months. 4.70% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB acquired a new stake in Tyler Technologies in the 4th quarter valued at about $522,000. Envestnet Asset Management Inc. lifted its holdings in Tyler Technologies by 0.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 28,057 shares of the technology company’s stock valued at $4,968,000 after acquiring an additional 262 shares during the last quarter. Ashford Capital Management Inc. lifted its holdings in Tyler Technologies by 0.6% in the 4th quarter. Ashford Capital Management Inc. now owns 52,683 shares of the technology company’s stock valued at $9,328,000 after acquiring an additional 300 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Tyler Technologies during the 4th quarter worth about $1,219,000. Finally, MetLife Investment Advisors LLC acquired a new stake in Tyler Technologies during the 4th quarter worth about $3,914,000. 94.37% of the stock is owned by institutional investors.
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About Tyler Technologies
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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