Analysts predict that Tyler Technologies, Inc. (NYSE:TYL) will report sales of $247.46 million for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Tyler Technologies’ earnings, with the lowest sales estimate coming in at $240.50 million and the highest estimate coming in at $250.32 million. Tyler Technologies reported sales of $217.85 million during the same quarter last year, which indicates a positive year over year growth rate of 13.6%. The firm is scheduled to issue its next earnings results on Wednesday, February 20th.
On average, analysts expect that Tyler Technologies will report full-year sales of $943.89 million for the current year, with estimates ranging from $937.20 million to $946.99 million. For the next year, analysts forecast that the business will post sales of $1.04 billion, with estimates ranging from $1.02 billion to $1.06 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Tyler Technologies.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 31st. The technology company reported $1.23 EPS for the quarter, hitting the consensus estimate of $1.23. The company had revenue of $236.10 million during the quarter, compared to analyst estimates of $240.98 million. Tyler Technologies had a net margin of 19.47% and a return on equity of 11.19%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 EPS.
Several equities research analysts recently commented on TYL shares. Zacks Investment Research raised shares of Tyler Technologies from a “hold” rating to a “buy” rating and set a $236.00 price target for the company in a report on Saturday, October 27th. JMP Securities cut their price target on shares of Tyler Technologies from $250.00 to $245.00 and set a “market outperform” rating for the company in a report on Thursday, November 1st. TheStreet lowered shares of Tyler Technologies from a “b” rating to a “c+” rating in a report on Thursday, November 1st. KeyCorp reaffirmed a “hold” rating on shares of Tyler Technologies in a research note on Friday, November 2nd. Finally, Robert W. Baird lowered their target price on shares of Tyler Technologies from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, November 2nd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Tyler Technologies presently has a consensus rating of “Buy” and a consensus price target of $233.36.
Shares of NYSE TYL opened at $187.33 on Thursday. The firm has a market capitalization of $7.48 billion, a P/E ratio of 58.91, a P/E/G ratio of 5.13 and a beta of 0.88. Tyler Technologies has a one year low of $176.36 and a one year high of $252.47.
In other news, VP Brian K. Miller sold 5,652 shares of the business’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $249.64, for a total transaction of $1,410,965.28. Following the transaction, the vice president now owns 48,263 shares of the company’s stock, valued at approximately $12,048,375.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brenda A. Cline sold 4,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,251,950. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,927 shares of company stock worth $6,278,880. 4.70% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Tyler Technologies by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,326,669 shares of the technology company’s stock valued at $815,233,000 after acquiring an additional 106,568 shares during the last quarter. Morgan Stanley boosted its position in shares of Tyler Technologies by 9.7% during the 3rd quarter. Morgan Stanley now owns 1,032,052 shares of the technology company’s stock valued at $252,916,000 after acquiring an additional 91,535 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Tyler Technologies by 6.2% during the 3rd quarter. Legal & General Group Plc now owns 45,667 shares of the technology company’s stock valued at $11,192,000 after acquiring an additional 2,683 shares during the last quarter. Waldron Private Wealth LLC acquired a new position in shares of Tyler Technologies during the 3rd quarter valued at about $207,000. Finally, New Mexico Educational Retirement Board boosted its position in shares of Tyler Technologies by 9.6% during the 3rd quarter. New Mexico Educational Retirement Board now owns 9,100 shares of the technology company’s stock valued at $2,230,000 after acquiring an additional 800 shares during the last quarter. 91.18% of the stock is currently owned by hedge funds and other institutional investors.
Tyler Technologies Company Profile
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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