Tyler Technologies (TYL) Given New $250.00 Price Target at Robert W. Baird

Tyler Technologies (NYSE:TYL) had its target price trimmed by Robert W. Baird from $260.00 to $250.00 in a research report sent to investors on Friday morning. The firm currently has an outperform rating on the technology company’s stock.

Several other equities analysts have also recently commented on TYL. Zacks Investment Research upgraded shares of Tyler Technologies from a hold rating to a buy rating and set a $267.00 target price for the company in a research note on Tuesday, July 24th. B. Riley increased their price objective on shares of Tyler Technologies from $200.00 to $206.00 and gave the company a neutral rating in a research note on Monday, July 30th. JMP Securities dropped their price objective on shares of Tyler Technologies from $250.00 to $245.00 and set a market outperform rating for the company in a research note on Thursday. Finally, KeyCorp restated a hold rating on shares of Tyler Technologies in a research note on Friday. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $233.36.

NYSE:TYL traded down $0.10 during trading hours on Friday, hitting $194.90. 408,054 shares of the company traded hands, compared to its average volume of 244,419. The stock has a market cap of $7.57 billion, a P/E ratio of 53.54, a PEG ratio of 5.14 and a beta of 0.92. Tyler Technologies has a twelve month low of $168.12 and a twelve month high of $252.47.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 31st. The technology company reported $1.23 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.23. The firm had revenue of $236.10 million during 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 business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 EPS. On average, research analysts forecast that Tyler Technologies will post 3.78 EPS for the current fiscal year.

In other news, insider John S. Marr, Jr. sold 24,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $231.89, for a total value of $5,565,360.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 9,200 shares of the company’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $245.27, for a total transaction of $2,256,484.00. Following the completion of the sale, the chief executive officer now directly owns 67,147 shares in the company, valued at approximately $16,469,144.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,397 shares of company stock valued at $32,234,944. Corporate insiders own 4.70% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Tyler Technologies by 5.8% in the 2nd quarter. BlackRock Inc. now owns 3,195,740 shares of the technology company’s stock worth $709,773,000 after purchasing an additional 173,889 shares during the last quarter. Morgan Stanley grew its holdings in shares of Tyler Technologies by 949.5% in the 2nd quarter. Morgan Stanley now owns 940,517 shares of the technology company’s stock worth $208,889,000 after purchasing an additional 850,905 shares during the last quarter. Federated Investors Inc. PA grew its holdings in shares of Tyler Technologies by 3.8% in the 2nd quarter. Federated Investors Inc. PA now owns 469,342 shares of the technology company’s stock worth $104,241,000 after purchasing an additional 17,026 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Tyler Technologies by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 459,809 shares of the technology company’s stock worth $102,123,000 after purchasing an additional 1,433 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Tyler Technologies by 2.2% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 443,270 shares of the technology company’s stock worth $98,450,000 after purchasing an additional 9,355 shares during the last quarter. 91.71% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Tyler Technologies (NYSE:TYL)

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