Tyler Technologies (NYSE:TYL) Releases Earnings Results, Misses Estimates By $0.77 EPS

Tyler Technologies (NYSE:TYL) released its quarterly earnings data on Wednesday. The technology company reported $2.28 earnings per share for the quarter, missing the consensus estimate of $3.05 by ($0.77), Zacks reports. Tyler Technologies had a net margin of 13.26% and a return on equity of 10.74%.

Tyler Technologies Stock Up 0.3%

NYSE:TYL traded up $1.01 during trading hours on Wednesday, reaching $334.37. 1,403,495 shares of the stock were exchanged, compared to its average volume of 711,528. The stock has a market capitalization of $14.10 billion, a P/E ratio of 46.18, a P/E/G ratio of 2.10 and a beta of 0.82. The firm has a 50 day simple moving average of $304.01 and a 200-day simple moving average of $336.41. Tyler Technologies has a 52 week low of $270.71 and a 52 week high of $621.34.

Institutional Investors Weigh In On Tyler Technologies

Institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. acquired a new stake in Tyler Technologies in the first quarter worth $38,000. NewEdge Advisors LLC raised its stake in shares of Tyler Technologies by 17.8% in the 1st quarter. NewEdge Advisors LLC now owns 251 shares of the technology company’s stock worth $146,000 after buying an additional 38 shares in the last quarter. Woodline Partners LP acquired a new stake in Tyler Technologies during the first quarter valued at approximately $2,102,000. Geneos Wealth Management Inc. increased its stake in Tyler Technologies by 137.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock worth $40,000 after purchasing an additional 40 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Tyler Technologies by 12.5% in the 2nd quarter. American Century Companies Inc. now owns 621 shares of the technology company’s stock valued at $368,000 after acquiring an additional 69 shares in the last quarter. Institutional investors own 93.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on TYL shares. BTIG Research restated a “buy” rating and set a $420.00 target price on shares of Tyler Technologies in a report on Wednesday, June 10th. TD Cowen reduced their target price on shares of Tyler Technologies from $450.00 to $400.00 and set a “buy” rating on the stock in a research report on Monday. Citizens Jmp restated a “market outperform” rating and issued a $500.00 target price on shares of Tyler Technologies in a research note on Tuesday, April 28th. Barclays lifted their price target on shares of Tyler Technologies from $420.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 10th. Finally, Guggenheim assumed coverage on shares of Tyler Technologies in a report on Wednesday, July 22nd. They issued a “buy” rating and a $440.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $464.59.

Tyler Technologies Company Profile

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.