Tyler Technologies (TYL) has received a Hold rating from Goldman Sachs analyst Adam Hotchkiss, who set a $345.00 price target for the company. The shares of Tyler Technologies closed at $331.15 on the day of the downgrade.
Despite this downgrade, the broader analyst consensus on Wall Street remains bullish, with a Strong Buy rating and an average price target of $413.08. This suggests that while Goldman Sachs has taken a more cautious stance, other analysts maintain a positive outlook on the stock.
Tyler Technologies recently reported its quarterly earnings for the period ending June 30, showcasing a revenue of $645.1 million and a net profit of $93.51 million. This represents growth compared to the same quarter last year, when the company reported revenue of $596.12 million and a net profit of $84.63 million.
Corporate insider activity has been notably negative, with 29 insiders selling shares. Lynn Moore, the President & CEO of Tyler Technologies, sold 9,250 shares for a total of $3,448,215.00 last month. This insider selling could be a point of concern for investors.