William Blair Has Positive Estimate for TYL FY2024 Earnings

Tyler Technologies, Inc. (NYSE:TYL) – Stock analysts at William Blair upped their FY2024 earnings estimates for Tyler Technologies in a report issued on Thursday, October 24th. William Blair analyst J. Ho now anticipates that the technology company will post earnings per share of $7.33 for the year, up from their prior forecast of $7.13. The consensus estimate for Tyler Technologies’ current full-year earnings is $7.30 per share.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm had revenue of $543.34 million for the quarter, compared to analysts’ expectations of $547.34 million. During the same period in the previous year, the company earned $1.66 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis.

A number of other research firms have also recently commented on TYL. StockNews.com raised Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Friday. 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. Oppenheimer raised their target price on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday. Truist Financial reissued a “buy” rating and set a $685.00 price objective (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday. Finally, BTIG Research raised their price target on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Stock Down 0.1 %

TYL opened at $605.39 on Monday. The firm has a market capitalization of $25.91 billion, a P/E ratio of 110.47, a price-to-earnings-growth ratio of 5.53 and a beta of 0.78. Tyler Technologies has a one year low of $362.50 and a one year high of $631.43. The company has a fifty day moving average price of $585.40 and a 200-day moving average price of $529.57. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21.

Institutional Investors Weigh In On Tyler Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of TYL. Independence Bank of Kentucky purchased a new position in shares of Tyler Technologies during the second quarter valued at $25,000. Covestor Ltd increased its position in Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after purchasing an additional 43 shares during the period. Blue Trust Inc. raised its holdings in shares of Tyler Technologies by 329.4% in the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after purchasing an additional 56 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of Tyler Technologies in the 2nd quarter valued at about $38,000. Finally, Larson Financial Group LLC lifted its position in shares of Tyler Technologies by 675.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the technology company’s stock worth $40,000 after purchasing an additional 81 shares during the period. 93.30% of the stock is owned by institutional investors.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total value of $2,894,700.00. Following the sale, the insider now owns 6,983 shares in the company, valued at $4,042,738.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total value of $2,894,700.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,042,738.02. 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 at this hyperlink. Also, Director Glenn A. Carter sold 3,350 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $582.57, for a total transaction of $1,951,609.50. Following the transaction, the director now directly owns 2,654 shares in the company, valued at approximately $1,546,140.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,100 shares of company stock worth $16,890,717 in the last quarter. 1.50% of the stock is owned by company 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.