Tyler Technologies (NYSE:TYL) Given New $475.00 Price Target at Needham & Company LLC

Tyler Technologies (NYSE:TYL – Get Rating) had its target price dropped by equities researchers at Needham & Company LLC from $575.00 to $475.00 in a report issued on Thursday, MarketBeat reports. The brokerage presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price indicates a potential upside of 21.44% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. StockNews.com started coverage on Tyler Technologies in a report on Thursday, March 31st. They set a “hold” rating on the stock. Wells Fargo & Company raised Tyler Technologies from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $425.00 to $435.00 in a research report on Tuesday, June 7th. TheStreet cut Tyler Technologies from a “b-” rating to a “c+” rating in a research report on Wednesday, April 27th. Loop Capital began coverage on Tyler Technologies in a research report on Monday, April 18th. They set a “buy” rating and a $520.00 price objective for the company. Finally, Credit Suisse Group began coverage on Tyler Technologies in a research report on Monday, May 9th. They set a “neutral” rating and a $408.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $478.91.

Tyler Technologies Trading Up 4.5 %

NYSE:TYL traded up $16.79 on Thursday, reaching $391.13. The company’s stock had a trading volume of 6,079 shares, compared to its average volume of 240,778. Tyler Technologies has a 12-month low of $300.85 and a 12-month high of $557.55. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.54. The firm has a market cap of $16.22 billion, a price-to-earnings ratio of 99.49 and a beta of 0.83. The stock has a 50 day moving average price of $341.47 and a 200 day moving average price of $396.32.

Tyler Technologies (NYSE:TYL – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.05. Tyler Technologies had a return on equity of 10.62% and a net margin of 9.38%. The firm had revenue of $468.70 million for the quarter, compared to the consensus estimate of $458.50 million. During the same quarter in the previous year, the business earned $1.42 EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities analysts anticipate that Tyler Technologies will post 5.69 EPS for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other news, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction on Friday, May 13th. The stock was sold at an average price of $358.97, for a total transaction of $897,425.00. Following the sale, the chief financial officer now owns 28,594 shares in the company, valued at $10,264,388.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $358.97, for a total value of $897,425.00. Following the transaction, the chief financial officer now directly owns 28,594 shares of the company’s stock, valued at $10,264,388.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $363.75, for a total value of $2,182,500.00. Following the completion of the transaction, the chairman now directly owns 57,638 shares in the company, valued at $20,965,822.50. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Tyler Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in TYL. GHP Investment Advisors Inc. bought a new position in shares of Tyler Technologies in the first quarter valued at $30,000. Standard Family Office LLC bought a new stake in Tyler Technologies in the first quarter worth $49,000. Aaron Wealth Advisors LLC bought a new stake in Tyler Technologies in the first quarter worth $51,000. Confluence Wealth Services Inc. bought a new stake in Tyler Technologies in the fourth quarter worth $58,000. Finally, Prospera Financial Services Inc bought a new stake in Tyler Technologies during the first quarter valued at about $58,000. 90.14% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Company Profile

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Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. 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.