According to Zacks, “Tyler Technologies, Inc. is engaged in providing integrated information management solutions and services to the public sector. It provides software products and services; professional IT services; subscription-based services; property appraisal outsourcing services. Its products generally automate three major functional areas (1) financial management and education, (2) courts and justice and (3) property appraisal and tax. Tyler operates in two reportable segments: Enterprise Software Solutions (ESS) and Appraisal and Tax Software Solutions and Services. The Enterprise Software Solutions (ESS) segment provides software systems to municipal and county governments and schools. The Appraisal and Tax Software Solutions and Services segment provides systems and software that automate the appraisal and assessment of real and personal property as well as property appraisal outsourcing services for local governments and taxing authorities. Tyler Technologies, Inc. is headquartered in Dallas, Texas. “
A number of other equities research analysts have also commented on TYL. B. Riley reissued a buy rating and set a $176.00 price objective on shares of Tyler Technologies in a report on Friday, July 29th. KeyCorp increased their price objective on shares of Tyler Technologies from $176.00 to $178.00 and gave the stock an overweight rating in a report on Tuesday, September 13th. Needham & Company LLC reissued a buy rating and set a $160.00 price objective on shares of Tyler Technologies in a report on Friday, June 3rd. Pacific Crest reissued a buy rating and set a $176.00 price objective on shares of Tyler Technologies in a report on Friday, July 29th. Finally, Evercore ISI raised shares of Tyler Technologies from a hold rating to a buy rating and set a $184.00 price objective on the stock in a report on Monday, June 27th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $179.16.
Shares of Tyler Technologies (NYSE:TYL) opened at 170.51 on Thursday. The stock’s 50 day moving average is $168.49 and its 200-day moving average is $155.53. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 99.36 and a beta of 1.28. Tyler Technologies has a 12-month low of $118.16 and a 12-month high of $184.01.
Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, July 27th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The business earned $188.97 million during the quarter, compared to analysts’ expectations of $192.12 million. Tyler Technologies had a net margin of 9.54% and a return on equity of 13.07%. The firm’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter last year, the company posted $0.65 EPS. On average, analysts anticipate that Tyler Technologies will post $3.48 EPS for the current fiscal year.
In related news, Director Dustin R. Womble sold 35,000 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $162.73, for a total value of $5,695,550.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brian K. Miller sold 7,500 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $169.15, for a total transaction of $1,268,625.00. Following the completion of the sale, the chief financial officer now owns 62,517 shares in the company, valued at $10,574,750.55. The disclosure for this sale can be found here. 12.00% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Point72 Asia Hong Kong Ltd bought a new stake in shares of Tyler Technologies during the second quarter valued at approximately $100,000. Creative Planning increased its stake in shares of Tyler Technologies by 437.2% in the second quarter. Creative Planning now owns 650 shares of the company’s stock valued at $108,000 after buying an additional 529 shares during the period. Grandeur Peak Global Advisors LLC increased its stake in shares of Tyler Technologies by 20.0% in the second quarter. Grandeur Peak Global Advisors LLC now owns 900 shares of the company’s stock valued at $150,000 after buying an additional 150 shares during the period. Advisor Group Inc. bought a new stake in shares of Tyler Technologies during the second quarter valued at approximately $178,000. Finally, Miles Capital Inc. bought a new stake in shares of Tyler Technologies during the second quarter valued at approximately $248,000. Institutional investors and hedge funds own 90.95% of the company’s stock.
About Tyler Technologies
Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company provides professional information technology (IT) services to its clients, including software and hardware installation, data conversion, training and product modifications.
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