Wall Street brokerages forecast that Tyler Technologies, Inc. (NYSE:TYL) will report sales of $290.29 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Tyler Technologies’ earnings, with estimates ranging from $284.40 million to $293.36 million. Tyler Technologies posted sales of $243.03 million in the same quarter last year, which would indicate a positive year over year growth rate of 19.4%. The firm is expected to issue its next quarterly earnings report on Wednesday, February 19th.
According to Zacks, analysts expect that Tyler Technologies will report full-year sales of $1.09 billion for the current year, with estimates ranging from $1.08 billion to $1.10 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.21 billion, with estimates ranging from $1.20 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 posted its earnings results on Wednesday, October 30th. The technology company reported $1.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by ($0.01). Tyler Technologies had a return on equity of 11.51% and a net margin of 12.63%. The business had revenue of $275.40 million for the quarter, compared to analysts’ expectations of $281.03 million. During the same quarter in the previous year, the firm earned $1.23 earnings per share. Tyler Technologies’s quarterly revenue was up 16.6% compared to the same quarter last year.
Several equities analysts recently commented on the company. Needham & Company LLC restated a “buy” rating on shares of Tyler Technologies in a research report on Thursday, October 31st. Oppenheimer assumed coverage on Tyler Technologies in a research report on Monday, October 7th. They set an “outperform” rating and a $300.00 target price for the company. Robert W. Baird cut Tyler Technologies from an “outperform” rating to a “neutral” rating and set a $310.00 target price for the company. in a research report on Monday, January 13th. JMP Securities upped their price objective on Tyler Technologies from $245.00 to $286.00 and gave the stock a “market outperform” rating in a report on Friday, September 27th. Finally, ValuEngine cut Tyler Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Tyler Technologies presently has an average rating of “Buy” and a consensus price target of $283.11.
Tyler Technologies stock traded down $1.85 during midday trading on Wednesday, hitting $309.90. 161,145 shares of the company’s stock were exchanged, compared to its average volume of 224,150. Tyler Technologies has a 52-week low of $187.64 and a 52-week high of $320.46. The stock has a 50-day moving average price of $300.54 and a two-hundred day moving average price of $269.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market cap of $12.15 billion, a P/E ratio of 94.48 and a beta of 0.89.
In other news, Chairman John S. Marr, Jr. sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $286.27, for a total value of $7,156,750.00. Also, Chairman John S. Marr, Jr. sold 15,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $285.65, for a total value of $4,284,750.00. The disclosure for this sale can be found here. Insiders sold a total of 67,750 shares of company stock valued at $19,364,240 over the last quarter. Company insiders own 4.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TYL. Quadrant Capital Group LLC lifted its stake in shares of Tyler Technologies by 233.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 220 shares of the technology company’s stock valued at $56,000 after acquiring an additional 154 shares during the last quarter. Cerebellum GP LLC raised its position in Tyler Technologies by 25.0% during the 3rd quarter. Cerebellum GP LLC now owns 250 shares of the technology company’s stock valued at $66,000 after purchasing an additional 50 shares during the last quarter. Huntington National Bank raised its position in Tyler Technologies by 55.2% during the 4th quarter. Huntington National Bank now owns 281 shares of the technology company’s stock valued at $84,000 after purchasing an additional 100 shares during the last quarter. Shine Investment Advisory Services Inc. raised its position in Tyler Technologies by 40.2% during the 3rd quarter. Shine Investment Advisory Services Inc. now owns 366 shares of the technology company’s stock valued at $96,000 after purchasing an additional 105 shares during the last quarter. Finally, Rehmann Capital Advisory Group raised its position in Tyler Technologies by 15.6% during the 2nd quarter. Rehmann Capital Advisory Group now owns 540 shares of the technology company’s stock valued at $117,000 after purchasing an additional 73 shares during the last quarter. 88.89% of the stock is owned by institutional investors.
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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