Shares of Tyler Technologies (NYSE:TYL) hit a new 52-week high and low during mid-day trading on Thursday . The stock traded as low as $216.75 and last traded at $214.21, with a volume of 61377 shares traded. The stock had previously closed at $214.42.
Several analysts recently issued reports on the company. Zacks Investment Research upgraded Tyler Technologies from a “hold” rating to a “buy” rating and set a $234.00 price objective for the company in a report on Thursday. ValuEngine upgraded Tyler Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, April 4th. Maxim Group increased their price objective on Tyler Technologies from $197.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Evercore ISI reiterated a “buy” rating and set a $210.00 price objective on shares of Tyler Technologies in a report on Friday, February 23rd. Finally, Piper Jaffray reiterated an “overweight” rating and set a $220.00 price objective on shares of Tyler Technologies in a report on Tuesday, January 16th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $210.27.
The firm has a market cap of $8,063.82, a price-to-earnings ratio of 67.68 and a beta of 0.91.
Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, February 21st. The technology company reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.03. Tyler Technologies had a return on equity of 12.49% and a net margin of 19.50%. The company had revenue of $217.85 million for the quarter, compared to analyst estimates of $220.56 million. During the same period last year, the company earned $0.90 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. equities analysts forecast that Tyler Technologies will post 3.87 earnings per share for the current fiscal year.
In other news, CEO John S. Marr, Jr. sold 41,000 shares of Tyler Technologies stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $209.05, for a total value of $8,571,050.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dustin R. Womble sold 20,000 shares of Tyler Technologies stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $211.12, for a total value of $4,222,400.00. Following the completion of the transaction, the director now owns 1,500 shares in the company, valued at $316,680. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,582 shares of company stock worth $23,816,504. Corporate insiders own 4.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB bought a new position in shares of Tyler Technologies in the fourth quarter worth about $522,000. Envestnet Asset Management Inc. increased its stake in shares of Tyler Technologies by 0.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 28,057 shares of the technology company’s stock worth $4,968,000 after purchasing an additional 262 shares during the period. Ashford Capital Management Inc. increased its stake in shares of Tyler Technologies by 0.6% in the fourth quarter. Ashford Capital Management Inc. now owns 52,683 shares of the technology company’s stock worth $9,328,000 after purchasing an additional 300 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Tyler Technologies in the fourth quarter worth about $1,219,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of Tyler Technologies in the fourth quarter worth about $3,914,000. Institutional investors and hedge funds own 94.47% of the company’s stock.
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Tyler Technologies Company Profile
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. It operates through two segments, Enterprise Software, and Appraisal and Tax. The company's financial management solutions include modular fund accounting systems for government agencies or not-for-profit entities; and utility billing systems for the billing and collection of metered and non-metered services.
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