Tyler Technologies (NYSE:TYL) Issues Quarterly Earnings Results

Tyler Technologies (NYSE:TYL) posted its quarterly earnings data on Wednesday. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.09, Briefing.com reports. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The company had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. During the same period in the prior year, the business earned $1.66 earnings per share. Tyler Technologies’s revenue for the quarter was up 9.8% compared to the same quarter last year. Tyler Technologies updated its FY24 guidance to $9.47-9.62 EPS and its FY 2024 guidance to 9.470-9.620 EPS.

Tyler Technologies Stock Performance

NYSE TYL opened at $605.86 on Friday. The firm has a market cap of $25.85 billion, a price-to-earnings ratio of 125.18, a PEG ratio of 5.42 and a beta of 0.78. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.19. Tyler Technologies has a 1-year low of $361.16 and a 1-year high of $631.43. The company has a 50 day moving average of $584.88 and a 200-day moving average of $526.68.

Insider Buying and Selling

In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of Tyler Technologies 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 completion of the transaction, the insider now owns 6,983 shares in the company, valued at approximately $4,042,738.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider John S. Marr, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 owns 6,983 shares of the company’s stock, valued at $4,042,738.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $586.97, for a total transaction of $1,467,425.00. Following the transaction, the chief financial officer now owns 11,950 shares in the company, valued at approximately $7,014,291.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,375 shares of company stock worth $17,049,739 in the last three months. Insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

TYL has been the topic of several research analyst reports. Evercore ISI upgraded shares of Tyler Technologies to a “hold” rating in a research report on Friday, July 26th. BTIG Research boosted their price target on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a research note on Friday, July 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $627.00 price objective on shares of Tyler Technologies in a research report on Friday, September 13th. DA Davidson upped their target price on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, StockNews.com upgraded shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Tyler Technologies has an average rating of “Moderate Buy” and a consensus price target of $642.62.

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.