KeyCorp reaffirmed their hold rating on shares of Tyler Technologies (NYSE:TYL) in a report published on Thursday morning, AnalystRatings.com reports.
A number of other equities research analysts also recently issued reports on TYL. ValuEngine raised shares of Tyler Technologies from a hold rating to a buy rating in a report on Tuesday, July 2nd. Northland Securities reissued a buy rating on shares of Tyler Technologies in a report on Thursday. Finally, Zacks Investment Research raised shares of Tyler Technologies from a sell rating to a hold rating in a report on Friday, July 5th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $249.50.
Shares of Tyler Technologies stock traded up $1.91 on Thursday, reaching $248.75. The stock had a trading volume of 625,708 shares, compared to its average volume of 183,501. Tyler Technologies has a 1 year low of $173.26 and a 1 year high of $252.47. The stock has a market capitalization of $9.46 billion, a P/E ratio of 66.51 and a beta of 0.92. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02. The stock’s 50 day moving average price is $223.89.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.05. Tyler Technologies had a net margin of 12.96% and a return on equity of 11.44%. The firm had revenue of $275.10 million for the quarter, compared to the consensus estimate of $274.88 million. During the same period in the prior year, the firm posted $1.18 earnings per share. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, research analysts forecast that Tyler Technologies will post 4.17 EPS for the current fiscal year.
In related news, VP Brian K. Miller sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $220.65, for a total value of $882,600.00. Following the sale, the vice president now directly owns 47,932 shares of the company’s stock, valued at $10,576,195.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Luther King, Jr. sold 967 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $217.70, for a total transaction of $210,515.90. Following the completion of the sale, the director now directly owns 77,864 shares in the company, valued at $16,950,992.80. The disclosure for this sale can be found here. Insiders sold 59,636 shares of company stock worth $13,101,345 over the last ninety days. 4.40% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Howe & Rusling Inc. raised its stake in Tyler Technologies by 0.6% in the first quarter. Howe & Rusling Inc. now owns 9,707 shares of the technology company’s stock valued at $1,984,000 after purchasing an additional 55 shares in the last quarter. Zions Bancorporation N.A. raised its stake in Tyler Technologies by 6.2% in the second quarter. Zions Bancorporation N.A. now owns 971 shares of the technology company’s stock valued at $210,000 after purchasing an additional 57 shares in the last quarter. Stephens Inc. AR raised its stake in Tyler Technologies by 1.4% in the second quarter. Stephens Inc. AR now owns 4,153 shares of the technology company’s stock valued at $897,000 after purchasing an additional 58 shares in the last quarter. Bessemer Group Inc. raised its stake in Tyler Technologies by 3.4% in the second quarter. Bessemer Group Inc. now owns 2,067 shares of the technology company’s stock valued at $446,000 after purchasing an additional 67 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its stake in Tyler Technologies by 1.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 7,080 shares of the technology company’s stock valued at $1,529,000 after purchasing an additional 80 shares in the last quarter. 88.45% of the stock is currently owned by institutional investors and hedge funds.
Tyler Technologies Company Profile
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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