Wall Street analysts predict that Tyler Technologies, Inc. (NYSE:TYL) will post sales of $288.27 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Tyler Technologies’ earnings, with the lowest sales estimate coming in at $284.19 million and the highest estimate coming in at $294.00 million. Tyler Technologies reported sales of $276.78 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.2%. The firm is scheduled to report its next earnings results on Wednesday, May 5th.
According to Zacks, analysts expect that Tyler Technologies will report full-year sales of $1.20 billion for the current financial year, with estimates ranging from $1.19 billion to $1.21 billion. For the next year, analysts expect that the firm will post sales of $1.31 billion, with estimates ranging from $1.28 billion to $1.33 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Tyler Technologies.
Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 10th. The technology company reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.03). Tyler Technologies had a return on equity of 9.91% and a net margin of 16.71%. The firm had revenue of $283.30 million for the quarter, compared to the consensus estimate of $291.39 million. During the same quarter in the previous year, the business posted $1.43 EPS. Tyler Technologies’s revenue was down 1.9% on a year-over-year basis.
A number of equities research analysts have commented on TYL shares. JMP Securities raised their target price on shares of Tyler Technologies from $435.00 to $480.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 11th. Northcoast Research raised shares of Tyler Technologies from a “neutral” rating to a “buy” rating and set a $500.00 target price for the company in a report on Wednesday, March 17th. Needham & Company LLC cut their target price on shares of Tyler Technologies from $510.00 to $480.00 and set a “buy” rating for the company in a report on Thursday, April 1st. Finally, DA Davidson lifted their price objective on shares of Tyler Technologies from $370.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, February 12th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $409.50.
NYSE TYL traded down $5.30 on Friday, reaching $437.37. 2,443 shares of the stock were exchanged, compared to its average volume of 293,337. Tyler Technologies has a one year low of $304.51 and a one year high of $479.79. The firm has a market capitalization of $17.81 billion, a PE ratio of 95.79, a PEG ratio of 6.48 and a beta of 0.67. The company’s 50-day simple moving average is $431.03 and its two-hundred day simple moving average is $419.49.
In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 16,750 shares of Tyler Technologies stock in a transaction that occurred on Friday, February 26th. The stock was sold at an average price of $466.11, for a total transaction of $7,807,342.50. Following the transaction, the chief executive officer now owns 81,012 shares of the company’s stock, valued at $37,760,503.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniel M. Pope sold 705 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, February 17th. The shares were sold at an average price of $464.57, for a total value of $327,521.85. Following the completion of the transaction, the director now owns 3,375 shares in the company, valued at $1,567,923.75. The disclosure for this sale can be found here. Insiders sold a total of 56,211 shares of company stock valued at $26,287,848 in the last quarter. Company insiders own 3.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley increased its stake in Tyler Technologies by 1,098.5% during the fourth quarter. Morgan Stanley now owns 577,128 shares of the technology company’s stock worth $251,927,000 after acquiring an additional 528,975 shares during the last quarter. Norges Bank bought a new stake in shares of Tyler Technologies in the 4th quarter worth approximately $171,470,000. Nuveen Asset Management LLC raised its stake in Tyler Technologies by 33.9% during the 4th quarter. Nuveen Asset Management LLC now owns 203,387 shares of the technology company’s stock valued at $88,783,000 after acquiring an additional 51,546 shares in the last quarter. Riverbridge Partners LLC increased its position in shares of Tyler Technologies by 3.9% during the 4th quarter. Riverbridge Partners LLC now owns 454,691 shares of the technology company’s stock valued at $198,481,000 after purchasing an additional 17,019 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Tyler Technologies by 1.8% during the fourth quarter. Principal Financial Group Inc. now owns 754,363 shares of the technology company’s stock valued at $329,294,000 after buying an additional 13,521 shares in the last quarter. 91.99% of the stock is owned by institutional investors.
About Tyler Technologies
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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