Tyler Technologies (NYSE:TYL) Issues FY 2024 Earnings Guidance

Tyler Technologies (NYSE:TYL) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 9.470-9.620 for the period, compared to the consensus earnings per share estimate of 9.370. The company issued revenue guidance of $2.1 billion-$2.1 billion, compared to the consensus revenue estimate of $2.1 billion. Tyler Technologies also updated its FY24 guidance to $9.47-9.62 EPS.

Tyler Technologies Stock Up 5.0 %

Shares of NYSE:TYL traded up $29.25 during trading on Thursday, hitting $611.47. The company’s stock had a trading volume of 597,972 shares, compared to its average volume of 228,160. Tyler Technologies has a fifty-two week low of $361.16 and a fifty-two week high of $631.43. The stock’s 50-day moving average price is $583.86 and its two-hundred day moving average price is $524.77. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $26.09 billion, a PE ratio of 128.75, a PEG ratio of 5.42 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The business had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.66 earnings per share. As a group, sell-side analysts expect that Tyler Technologies will post 7.21 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on TYL. DA Davidson lifted their price target on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. The Goldman Sachs Group reiterated a “buy” rating and issued a $627.00 price target on shares of Tyler Technologies in a report on Friday, September 13th. Wells Fargo & Company raised their price objective on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. BTIG Research boosted their target price on shares of Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Needham & Company LLC raised their price target on shares of Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $601.38.

Insider Buying and Selling

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $43,236,750. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $43,246,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $43,236,750. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,375 shares of company stock valued at $17,049,739 in the last three months. 2.20% of the stock is currently owned by corporate insiders.

About Tyler Technologies

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.