Brokerages forecast that Tyler Technologies, Inc. (NYSE:TYL) will announce $234.53 million in sales for the current quarter, Zacks reports. Seven analysts have made estimates for Tyler Technologies’ earnings. The lowest sales estimate is $232.82 million and the highest is $236.75 million. Tyler Technologies posted sales of $209.12 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.2%. The company is scheduled to announce its next quarterly earnings report on Wednesday, July 25th.
According to Zacks, analysts expect that Tyler Technologies will report full-year sales of $947.85 million for the current financial year, with estimates ranging from $942.00 million to $954.75 million. For the next fiscal year, analysts expect that the company will post sales of $1.05 billion per share, with estimates ranging from $1.04 billion to $1.06 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Tyler Technologies.
Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, May 2nd. The technology company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. The firm had revenue of $221.20 million during the quarter, compared to analysts’ expectations of $219.37 million. Tyler Technologies had a net margin of 19.65% and a return on equity of 12.17%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 EPS.
TYL has been the subject of several recent research reports. DA Davidson initiated coverage on shares of Tyler Technologies in a report on Wednesday, March 7th. They issued a “neutral” rating and a $190.00 price target for the company. Robert W. Baird assumed coverage on shares of Tyler Technologies in a research note on Tuesday, March 13th. They set an “outperform” rating and a $240.00 target price for the company. Zacks Investment Research raised shares of Tyler Technologies from a “hold” rating to a “buy” rating and set a $233.00 target price for the company in a research note on Wednesday, March 21st. ValuEngine raised shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, April 4th. Finally, Benchmark reaffirmed a “buy” rating and set a $250.00 target price (up previously from $225.00) on shares of Tyler Technologies in a research note on Thursday, April 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $221.08.
Tyler Technologies traded down $4.20, hitting $230.34, during trading hours on Thursday, Marketbeat.com reports. The company had a trading volume of 309,360 shares, compared to its average volume of 177,970. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 67.01, a price-to-earnings-growth ratio of 6.16 and a beta of 0.90. Tyler Technologies has a 1 year low of $165.14 and a 1 year high of $240.35.
In related news, VP Brian K. Miller sold 5,000 shares of Tyler Technologies stock in a transaction on Wednesday, May 9th. The shares were sold at an average price of $227.38, for a total value of $1,136,900.00. Following the transaction, the vice president now directly owns 55,186 shares in the company, valued at approximately $12,548,192.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John S. Marr, Jr. sold 34,000 shares of Tyler Technologies stock in a transaction on Wednesday, June 6th. The shares were sold at an average price of $234.91, for a total transaction of $7,986,940.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 182,829 shares of company stock worth $42,407,722. 4.70% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Carillon Tower Advisers Inc. acquired a new position in shares of Tyler Technologies during the fourth quarter valued at $57,036,000. Franklin Resources Inc. raised its stake in Tyler Technologies by 35.6% in the fourth quarter. Franklin Resources Inc. now owns 796,423 shares of the technology company’s stock valued at $141,009,000 after buying an additional 209,004 shares during the period. Loomis Sayles & Co. L P bought a new stake in Tyler Technologies in the first quarter valued at approximately $37,795,000. Ownership Capital B.V. raised its stake in Tyler Technologies by 71.3% in the first quarter. Ownership Capital B.V. now owns 351,461 shares of the technology company’s stock valued at $74,144,000 after buying an additional 146,332 shares during the period. Finally, Blair William & Co. IL raised its stake in Tyler Technologies by 147.4% in the first quarter. Blair William & Co. IL now owns 204,773 shares of the technology company’s stock valued at $43,199,000 after buying an additional 121,994 shares during the period. Hedge funds and other institutional investors own 92.05% of the company’s stock.
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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