Tyler Technologies, Inc. (NYSE:TYL) – Investment analysts at DA Davidson raised their Q4 2018 EPS estimates for Tyler Technologies in a report issued on Friday, November 2nd. DA Davidson analyst P. Heckmann now forecasts that the technology company will post earnings per share of $0.97 for the quarter, up from their prior estimate of $0.96.
A number of other research analysts have also recently weighed in on the stock. JMP Securities reduced their price target on shares of Tyler Technologies from $250.00 to $245.00 and set a “market outperform” rating on the stock in a research report on Thursday, November 1st. B. Riley lifted their price target on shares of Tyler Technologies from $200.00 to $206.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. Robert W. Baird reaffirmed a “buy” rating and set a $260.00 price target (up from $240.00) on shares of Tyler Technologies in a research report on Friday, July 27th. KeyCorp reaffirmed a “hold” rating on shares of Tyler Technologies in a research report on Friday. Finally, TheStreet cut shares of Tyler Technologies from a “b” rating to a “c+” rating in a research report on Thursday, November 1st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $233.36.
Shares of TYL stock opened at $188.00 on Monday. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 59.12, a price-to-earnings-growth ratio of 5.15 and a beta of 0.92. Tyler Technologies has a fifty-two week low of $168.12 and a fifty-two week high of $252.47.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 31st. The technology company reported $1.23 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.23. The firm had revenue of $236.10 million for 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%. Tyler Technologies’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 earnings per share.
In other news, Director Brenda A. Cline sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $250.39, for a total transaction of $1,001,560.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $1,251,950. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brian K. Miller sold 5,652 shares of the business’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $249.64, for a total transaction of $1,410,965.28. Following the transaction, the vice president now directly owns 48,263 shares in the company, valued at $12,048,375.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,397 shares of company stock worth $32,234,944. Corporate insiders own 4.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its position in shares of Tyler Technologies by 17.0% during the third quarter. Janney Montgomery Scott LLC now owns 2,870 shares of the technology company’s stock worth $703,000 after purchasing an additional 416 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Tyler Technologies by 162.2% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,062 shares of the technology company’s stock worth $1,486,000 after purchasing an additional 3,750 shares in the last quarter. Zions Bancorporation acquired a new position in shares of Tyler Technologies during the third quarter worth $224,000. Engineers Gate Manager LP acquired a new position in shares of Tyler Technologies during the third quarter worth $208,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of Tyler Technologies by 1.2% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 69,685 shares of the technology company’s stock worth $17,077,000 after purchasing an additional 840 shares in the last quarter. 92.11% of the stock is currently owned by institutional investors and hedge funds.
About Tyler Technologies
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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