Tyler Technologies (TYL) to Release Earnings on Wednesday

Tyler Technologies (NYSE:TYL) will be posting its quarterly earnings results after the market closes on Wednesday, October 23rd. Analysts expect Tyler Technologies to post earnings of $2.44 per share for the quarter. Tyler Technologies has set its FY24 guidance at $9.25-9.45 EPS and its FY 2024 guidance at 9.250-9.450 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.06. The company had revenue of $540.98 million during the quarter, compared to the consensus estimate of $541.01 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $1.53 EPS. On average, analysts expect Tyler Technologies to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Tyler Technologies Stock Performance

TYL opened at $588.43 on Monday. Tyler Technologies has a 1-year low of $361.16 and a 1-year high of $606.93. The stock has a market cap of $24.98 billion, a P/E ratio of 133.13, a P/E/G ratio of 5.55 and a beta of 0.78. The stock’s 50 day simple moving average is $583.57 and its 200 day simple moving average is $521.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 1.06.

Insiders Place Their Bets

In other news, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction 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 completion of the sale, the director now owns 3,218 shares of the company’s stock, valued at $1,860,840.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 of the company’s stock, valued at approximately $43,236,750. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction on Monday, July 29th. The shares were sold at an average price of $578.26, for a total transaction of $159,021.50. Following the completion of the transaction, the director now owns 3,218 shares in the company, valued at approximately $1,860,840.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,375 shares of company stock valued at $17,049,739 in the last quarter. 2.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TYL has been the topic of several research reports. JMP Securities upped their target price on Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a report on Monday, July 22nd. Barclays raised shares of Tyler Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $577.00 to $700.00 in a research note on Monday, October 7th. DA Davidson lifted their target price on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday. BTIG Research upped their price target on shares of Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Oppenheimer raised their price objective on shares of Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $593.69.

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.