Equities research analysts expect that Tyler Technologies, Inc. (NYSE:TYL) will announce $276.83 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Tyler Technologies’ earnings, with the highest sales estimate coming in at $284.12 million and the lowest estimate coming in at $271.02 million. Tyler Technologies posted sales of $236.06 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 17.3%. The company is scheduled to issue its next earnings results on Thursday, July 25th.
On average, analysts expect that Tyler Technologies will report full-year sales of $1.09 billion for the current year, with estimates ranging from $1.09 billion to $1.10 billion. For the next year, analysts anticipate that the business will post sales of $1.20 billion, with estimates ranging from $1.18 billion to $1.22 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Tyler Technologies.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.95 earnings per share for the quarter, hitting the consensus estimate of $0.95. The company had revenue of $247.10 million during the quarter, compared to analysts’ expectations of $251.75 million. Tyler Technologies had a net margin of 14.23% and a return on equity of 11.28%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the business earned $1.13 EPS.
Several equities analysts have recently weighed in on TYL shares. Northland Securities reaffirmed a “buy” rating and set a $240.00 price target on shares of Tyler Technologies in a research note on Friday, March 22nd. DA Davidson cut shares of Tyler Technologies from a “buy” rating to a “neutral” rating and set a $210.00 price target for the company. in a research note on Friday, February 22nd. KeyCorp reaffirmed a “hold” rating on shares of Tyler Technologies in a research note on Thursday, February 21st. ValuEngine raised shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Finally, Northcoast Research began coverage on shares of Tyler Technologies in a research note on Thursday, March 28th. They issued a “buy” rating and a $250.00 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $237.13.
In other Tyler Technologies news, Director Dustin R. Womble sold 3,676 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $206.87, for a total transaction of $760,454.12. Following the completion of the sale, the director now owns 181,798 shares of the company’s stock, valued at approximately $37,608,552.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John S. Marr, Jr. sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $201.26, for a total value of $2,012,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 52,143 shares of company stock valued at $10,623,160 in the last ninety days. Insiders own 4.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in TYL. JPMorgan Chase & Co. lifted its holdings in Tyler Technologies by 5.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,248,274 shares of the technology company’s stock valued at $305,901,000 after purchasing an additional 65,928 shares during the last quarter. Jane Street Group LLC acquired a new stake in Tyler Technologies during the 3rd quarter valued at $287,000. AQR Capital Management LLC acquired a new stake in Tyler Technologies during the 3rd quarter valued at $296,000. Morgan Stanley lifted its holdings in shares of Tyler Technologies by 9.7% during the third quarter. Morgan Stanley now owns 1,032,052 shares of the technology company’s stock worth $252,916,000 after buying an additional 91,535 shares in the last quarter. Finally, Vanguard Group Inc lifted its holdings in shares of Tyler Technologies by 3.3% during the third quarter. Vanguard Group Inc now owns 3,326,669 shares of the technology company’s stock worth $815,233,000 after buying an additional 106,568 shares in the last quarter. 89.16% of the stock is owned by institutional investors and hedge funds.
Shares of TYL traded down $6.72 during mid-day trading on Thursday, hitting $213.38. 144,000 shares of the company’s stock were exchanged, compared to its average volume of 269,248. The stock has a market capitalization of $8.33 billion, a P/E ratio of 57.05 and a beta of 0.95. Tyler Technologies has a 52 week low of $173.26 and a 52 week high of $252.47. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.08.
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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