Tyler Technologies (NYSE:TYL) Reaches New 12-Month High Following Strong Earnings

Tyler Technologies, Inc. (NYSE:TYL) reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The company traded as high as $623.15 and last traded at $623.15, with a volume of 27680 shares trading hands. The stock had previously closed at $582.22.

The technology company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The firm had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. During the same quarter last year, the business posted $1.66 EPS. The company’s revenue was up 9.8% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. BTIG Research increased their target price on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $627.00 target price on shares of Tyler Technologies in a research report on Friday, September 13th. Oppenheimer increased their target price on shares of Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Evercore ISI upgraded shares of Tyler Technologies to a “hold” rating in a research report on Friday, July 26th. Finally, Truist Financial reiterated a “buy” rating and issued a $600.00 target price (up previously from $560.00) on shares of Tyler Technologies in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $601.38.

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $43,246,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $576.49, for a total value of $3,603,062.50. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $43,236,750. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $43,246,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,375 shares of company stock worth $17,049,739. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TYL. Waldron Private Wealth LLC grew its position in Tyler Technologies by 3.5% in the 2nd quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock worth $360,000 after purchasing an additional 24 shares during the last quarter. Industrial Alliance Investment Management Inc. grew its position in Tyler Technologies by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company’s stock worth $295,000 after purchasing an additional 29 shares during the last quarter. George Kaiser Family Foundation boosted its position in shares of Tyler Technologies by 0.7% during the 2nd quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock valued at $2,100,000 after acquiring an additional 29 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Tyler Technologies by 2.4% during the 3rd quarter. UMB Bank n.a. now owns 1,354 shares of the technology company’s stock valued at $790,000 after acquiring an additional 32 shares in the last quarter. Finally, Torray Investment Partners LLC boosted its position in shares of Tyler Technologies by 0.3% during the 2nd quarter. Torray Investment Partners LLC now owns 11,010 shares of the technology company’s stock valued at $5,536,000 after acquiring an additional 33 shares in the last quarter. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

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 firm’s 50-day moving average price is $584.45 and its two-hundred day moving average price is $525.37. The firm has a market capitalization of $26.09 billion, a price-to-earnings ratio of 126.34, a price-to-earnings-growth ratio of 5.42 and a beta of 0.78.

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.