New Buy Rating for Tyler Technologies (TYL), the Technology Giant

Wells Fargo analyst Michael Turrin maintained a Buy rating on Tyler Technologies (TYL – Research Report) yesterday and set a price target of $550.00. The company’s shares closed yesterday at $479.04.

According to TipRanks, Turrin is an analyst with an average return of -4.6% and a 45.00% success rate. Turrin covers the Technology sector, focusing on stocks such as Adobe, HubSpot, and 8X8.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Tyler Technologies with a $535.70 average price target.

Based on Tyler Technologies’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $512.36 million and a net profit of $54.17 million. In comparison, last year the company earned a revenue of $471.85 million and had a net profit of $30.88 million

Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TYL in relation to earlier this year. Earlier this month, John Marr, the Executive Chair of the Board of TYL sold 12,000.00 shares for a total of $5,808,851.12.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Tyler Technologies (TYL) Company Description:

Tyler Technologies, Inc. engages in the provision of integrated technology and management solutions and services for public sector with a focus on local governments. It operates through the Enterprise Software, and Appraisal and Tax segments. The Enterprise Software segment provides municipal and county governments and schools with software systems to meet their information technology and automation needs for mission-critical back-office functions such as financial management, courts, and justice processes. The Appraisal and Tax segment provides systems and software that automate the appraisal and assessment of real and personal property, as well as property appraisal outsourcing services for local governments and taxing authorities. The company was founded in 1966 and is headquartered in Plano, TX.