A number of other research firms have also recently weighed in on TYL. DA Davidson lifted their target price on shares of Tyler Technologies from $190.00 to $200.00 and gave the company a neutral rating in a research note on Monday. Benchmark reiterated a buy rating and issued a $250.00 price target (up from $225.00) on shares of Tyler Technologies in a report on Thursday, April 19th. Zacks Investment Research upgraded shares of Tyler Technologies from a hold rating to a buy rating and set a $234.00 price target on the stock in a report on Thursday, April 12th. Robert W. Baird started coverage on shares of Tyler Technologies in a report on Tuesday, March 13th. They issued an outperform rating and a $240.00 price target on the stock. Finally, ValuEngine upgraded shares of Tyler Technologies from a hold rating to a buy rating in a report on Wednesday, April 4th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $221.08.
TYL opened at $220.86 on Monday. Tyler Technologies has a fifty-two week low of $159.63 and a fifty-two week high of $230.82. The firm has a market cap of $8,622.48, a P/E ratio of 69.45 and a beta of 0.91.
Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 21st. The technology company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Tyler Technologies had a net margin of 19.50% and a return on equity of 12.49%. The company had revenue of $217.85 million for the quarter, compared to analysts’ expectations of $220.56 million. During the same quarter in the previous year, the company earned $0.90 EPS. Tyler Technologies’s revenue for the quarter was up 12.7% on a year-over-year basis. research analysts expect that Tyler Technologies will post 3.86 earnings per share for the current year.
In other news, Director Dustin R. Womble sold 20,000 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $211.12, for a total value of $4,222,400.00. Following the sale, the director now directly owns 1,500 shares in the company, valued at approximately $316,680. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brian K. Miller sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $210.54, for a total transaction of $1,052,700.00. Following the completion of the sale, the vice president now owns 55,114 shares in the company, valued at $11,603,701.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 114,582 shares of company stock worth $23,816,504. 4.70% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB purchased a new position in shares of Tyler Technologies during the 4th quarter worth about $522,000. Envestnet Asset Management Inc. boosted its stake in shares of Tyler Technologies by 0.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 28,057 shares of the technology company’s stock worth $4,968,000 after purchasing an additional 262 shares during the period. Ashford Capital Management Inc. boosted its stake in shares of Tyler Technologies by 0.6% during the 4th quarter. Ashford Capital Management Inc. now owns 52,683 shares of the technology company’s stock worth $9,328,000 after purchasing an additional 300 shares during the period. Segall Bryant & Hamill LLC purchased a new position in shares of Tyler Technologies during the 4th quarter worth about $1,219,000. Finally, MetLife Investment Advisors LLC purchased a new position in shares of Tyler Technologies during the 4th quarter worth about $3,914,000. Hedge funds and other institutional investors own 94.37% of the company’s stock.
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About Tyler Technologies
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. It operates through two segments, Enterprise Software, and Appraisal and Tax. The company's financial management solutions include modular fund accounting systems for government agencies or not-for-profit entities; and utility billing systems for the billing and collection of metered and non-metered services.
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