Tyler Technologies (NYSE:TYL) Updates FY 2024 Earnings Guidance

Tyler Technologies (NYSE:TYL) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 9.100-9.300 for the period, compared to the consensus earnings per share estimate of 9.020. The company issued revenue guidance of $2.1 billion-$2.1 billion, compared to the consensus revenue estimate of $2.1 billion. Tyler Technologies also updated its FY24 guidance to $9.10-9.30 EPS.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TYL. JPMorgan Chase & Co. boosted their price objective on shares of Tyler Technologies from $500.00 to $526.00 and gave the company an overweight rating in a report on Thursday, February 15th. Robert W. Baird boosted their price objective on shares of Tyler Technologies from $500.00 to $525.00 and gave the company an outperform rating in a report on Friday. Piper Sandler reaffirmed an overweight rating and issued a $520.00 price target on shares of Tyler Technologies in a research note on Wednesday. DA Davidson lifted their price target on shares of Tyler Technologies from $412.00 to $434.00 and gave the company a neutral rating in a research note on Thursday, February 22nd. Finally, JMP Securities reaffirmed a market outperform rating and issued a $490.00 price target on shares of Tyler Technologies in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Tyler Technologies currently has an average rating of Moderate Buy and a consensus price target of $465.85.

Tyler Technologies Stock Performance

Shares of NYSE:TYL traded up $2.67 on Friday, hitting $460.74. The company had a trading volume of 282,294 shares, compared to its average volume of 211,816. Tyler Technologies has a 1-year low of $361.16 and a 1-year high of $465.78. The stock has a market cap of $19.55 billion, a price-to-earnings ratio of 105.12, a P/E/G ratio of 4.12 and a beta of 0.81. The stock has a 50 day moving average price of $422.62 and a 200 day moving average price of $414.83. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.06. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.49%. The business had revenue of $480.94 million during the quarter, compared to analysts’ expectations of $483.34 million. Analysts expect that Tyler Technologies will post 6.77 EPS for the current year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $435.98, for a total transaction of $4,359,800.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $32,698,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,500 shares of Tyler Technologies stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $427.82, for a total transaction of $2,780,830.00. Following the transaction, the insider now directly owns 6,400 shares of the company’s stock, valued at approximately $2,738,048. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $435.98, for a total transaction of $4,359,800.00. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $32,698,500. The disclosure for this sale can be found here. Insiders sold a total of 50,608 shares of company stock worth $21,974,819 in the last quarter. 2.20% of the stock is owned by insiders.

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.