Tyler Technologies (NYSE:TYL) Issues Earnings Results

Tyler Technologies (NYSE:TYL) released its quarterly earnings data on Wednesday. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.09, Briefing.com reports. The company had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.66 EPS. Tyler Technologies updated its FY24 guidance to $9.47-9.62 EPS and its FY 2024 guidance to 9.470-9.620 EPS.

Tyler Technologies Trading Down 0.9 %

Shares of TYL stock traded down $5.81 on Friday, reaching $605.86. 238,147 shares of the stock were exchanged, compared to its average volume of 228,208. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 1.06. Tyler Technologies has a one year low of $361.16 and a one year high of $631.43. The stock has a market cap of $25.85 billion, a PE ratio of 125.18, a P/E/G ratio of 5.42 and a beta of 0.78. The stock has a 50 day moving average price of $584.88 and a 200 day moving average price of $526.68.

Insider Transactions at Tyler Technologies

In other news, CFO Brian K. Miller sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $567.96, for a total transaction of $1,135,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $6,787,122. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tyler Technologies news, Director Daniel M. Pope sold 275 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $578.26, for a total value of $159,021.50. Following the sale, the director now owns 3,218 shares in the company, valued at $1,860,840.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian K. Miller sold 2,000 shares of Tyler Technologies stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $567.96, for a total transaction of $1,135,920.00. Following the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $6,787,122. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,375 shares of company stock worth $17,049,739 in the last quarter. 2.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TYL has been the topic of a number of analyst reports. JMP Securities upped their price target on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research report on Friday. Oppenheimer lifted their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday. DA Davidson boosted their price target on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Wells Fargo & Company raised their price objective on shares of Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Needham & Company LLC boosted their target price on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $642.62.

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.