Wall Street analysts predict that Tyler Technologies, Inc. (NYSE:TYL) will post $220.87 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Tyler Technologies’ earnings. The lowest sales estimate is $219.91 million and the highest is $221.52 million. Tyler Technologies posted sales of $193.28 million during the same quarter last year, which suggests a positive year over year growth rate of 14.3%. The company is scheduled to report its next quarterly earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that Tyler Technologies will report full-year sales of $220.87 million for the current financial year, with estimates ranging from $843.59 million to $845.21 million. For the next financial year, analysts forecast that the business will report sales of $934.61 million per share, with estimates ranging from $927.19 million to $944.67 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Tyler Technologies.
Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, October 25th. The technology company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.03. The company had revenue of $214.15 million during the quarter, compared to analysts’ expectations of $216.80 million. Tyler Technologies had a return on equity of 12.81% and a net margin of 16.34%. Tyler Technologies’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the business posted $0.94 EPS.
Several brokerages have recently issued reports on TYL. Piper Jaffray Companies reiterated an “overweight” rating and issued a $220.00 price objective on shares of Tyler Technologies in a research note on Tuesday, January 16th. B. Riley cut Tyler Technologies from a “buy” rating to a “neutral” rating and set a $184.00 price objective for the company. in a research note on Friday, October 27th. Zacks Investment Research cut Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Needham & Company LLC reiterated a “buy” rating on shares of Tyler Technologies in a research note on Tuesday, October 24th. Finally, KeyCorp reiterated a “buy” rating and issued a $180.00 price objective on shares of Tyler Technologies in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $195.50.
In other news, VP Brian K. Miller sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $176.86, for a total transaction of $884,300.00. Following the sale, the vice president now owns 55,694 shares of the company’s stock, valued at approximately $9,850,040.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John S. Marr, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $173.35, for a total value of $1,733,500.00. The disclosure for this sale can be found here. Insiders sold a total of 352,207 shares of company stock valued at $63,349,769 in the last quarter. Company insiders own 10.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of TYL. Zions Bancorporation acquired a new stake in shares of Tyler Technologies during the 3rd quarter worth about $156,000. CIBC Asset Management Inc acquired a new stake in shares of Tyler Technologies during the 3rd quarter worth about $218,000. D.A. Davidson & CO. raised its position in shares of Tyler Technologies by 13.3% during the 2nd quarter. D.A. Davidson & CO. now owns 1,391 shares of the technology company’s stock worth $244,000 after acquiring an additional 163 shares in the last quarter. Bell Bank acquired a new stake in shares of Tyler Technologies during the 3rd quarter worth about $254,000. Finally, Gofen & Glossberg LLC IL acquired a new stake in shares of Tyler Technologies during the 2nd quarter worth about $256,000. 91.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of Tyler Technologies (TYL) traded up $2.13 on Thursday, hitting $194.10. The stock had a trading volume of 107,275 shares, compared to its average volume of 110,607. The stock has a market cap of $7,291.95, a PE ratio of 59.54 and a beta of 0.98. Tyler Technologies has a fifty-two week low of $143.38 and a fifty-two week high of $194.66.
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Tyler Technologies Company Profile
Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company operates through two segments: Enterprise Software (ES) segment and The Appraisal and Tax (A&T) segment. ES segment provides municipal and county governments and schools with software systems and services for information technology and automation needs that includes back-office functions, such as financial management, courts and justice processes, public safety, planning regulatory and maintenance, and land and vital records management.
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