Tyler Technologies (NYSE:TYL) Releases FY24 Earnings Guidance

Tyler Technologies (NYSE:TYL) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $9.10-9.30 for the period, compared to the consensus estimate of $9.02. The company issued revenue guidance of $2.11-2.14 billion, compared to the consensus revenue estimate of $2.12 billion.

Analyst Ratings Changes

A number of research firms have recently issued reports on TYL. DA Davidson boosted their price target on shares of Tyler Technologies from $412.00 to $434.00 and gave the company a neutral rating in a report on Thursday, February 22nd. Needham & Company LLC boosted their price target on shares of Tyler Technologies from $475.00 to $500.00 and gave the company a buy rating in a report on Thursday, February 15th. JMP Securities restated a market outperform rating and set a $490.00 price target on shares of Tyler Technologies in a report on Friday, February 16th. Piper Sandler upped their price objective on shares of Tyler Technologies from $480.00 to $520.00 and gave the company an overweight rating in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Tyler Technologies from $500.00 to $526.00 and gave the company an overweight rating in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tyler Technologies has an average rating of Moderate Buy and a consensus price target of $460.46.

Tyler Technologies Stock Performance

Tyler Technologies stock traded up $0.56 during mid-day trading on Wednesday, reaching $419.00. The company had a trading volume of 305,830 shares, compared to its average volume of 206,242. Tyler Technologies has a 52 week low of $361.16 and a 52 week high of $454.74. The firm has a market cap of $17.78 billion, a price-to-earnings ratio of 107.24, a PEG ratio of 4.05 and a beta of 0.81. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average of $422.70 and a 200-day moving average of $414.49.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. Tyler Technologies had a net margin of 8.50% and a return on equity of 8.85%. The company had revenue of $480.94 million during the quarter, compared to analysts’ expectations of $483.34 million. On average, sell-side analysts expect that Tyler Technologies will post 6.77 EPS for the current fiscal year.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 10,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $435.98, for a total transaction of $4,359,800.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $32,698,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider John S. Marr, Jr. sold 6,500 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $437.49, for a total value of $2,843,685.00. Following the transaction, the insider now owns 6,400 shares of the company’s stock, valued at approximately $2,799,936. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 10,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $435.98, for a total transaction of $4,359,800.00. Following the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $32,698,500. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,608 shares of company stock worth $21,974,819. 1.50% of the stock is currently owned by corporate insiders.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.