Tyler Technologies, Inc. (NYSE:TYL) Expected to Post Quarterly Sales of $217.54 Million
Brokerages forecast that Tyler Technologies, Inc. (NYSE:TYL) will post $217.54 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Tyler Technologies’ earnings, with the lowest sales estimate coming in at $215.84 million and the highest estimate coming in at $218.72 million. Tyler Technologies posted sales of $194.50 million in the same quarter last year, which suggests a positive year over year growth rate of 11.8%. The business is scheduled to issue its next earnings report on Wednesday, October 25th.
On average, analysts expect that Tyler Technologies will report full-year sales of $217.54 million for the current year, with estimates ranging from $845.06 million to $848.76 million. For the next year, analysts forecast that the business will report sales of $940.57 million per share, with estimates ranging from $929.23 million to $949.94 million. Zacks’ sales calculations are an average based on a survey of analysts that cover Tyler Technologies.
Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.94 by $0.03. Tyler Technologies had a return on equity of 13.02% and a net margin of 14.73%. The firm had revenue of $209.12 million for the quarter, compared to analysts’ expectations of $210.67 million. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis.
Several equities research analysts have weighed in on TYL shares. Zacks Investment Research upgraded shares of Tyler Technologies from a “hold” rating to a “strong-buy” rating and set a $201.00 target price on the stock in a report on Thursday, June 29th. Maxim Group set a $197.00 target price on shares of Tyler Technologies and gave the stock a “buy” rating in a report on Monday, July 17th. BidaskClub lowered shares of Tyler Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, B. Riley reiterated a “buy” rating and issued a $184.00 target price on shares of Tyler Technologies in a report on Friday, July 28th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $187.17.
Tyler Technologies (NYSE:TYL) opened at 170.53 on Friday. Tyler Technologies has a 52-week low of $139.61 and a 52-week high of $182.49. The firm’s 50-day moving average is $173.84 and its 200 day moving average is $162.19. The stock has a market capitalization of $6.36 billion, a PE ratio of 51.09 and a beta of 0.95.
In related news, Director Larry D. Leinweber sold 36,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $171.82, for a total transaction of $6,185,520.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John S. Marr, Jr. sold 23,960 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $167.69, for a total transaction of $4,017,852.40. Following the sale, the chief executive officer now owns 355,437 shares in the company, valued at $59,603,230.53. The disclosure for this sale can be found here. Over the last quarter, insiders sold 391,147 shares of company stock worth $65,917,270. Company insiders own 10.30% of the company’s stock.
Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in shares of Tyler Technologies by 42.2% in the first quarter. Goldman Sachs Group Inc. now owns 756,703 shares of the technology company’s stock worth $116,957,000 after buying an additional 224,642 shares during the last quarter. Granite Investment Partners LLC bought a new stake in shares of Tyler Technologies during the first quarter worth approximately $2,884,000. Sei Investments Co. raised its stake in shares of Tyler Technologies by 19.7% in the first quarter. Sei Investments Co. now owns 71,165 shares of the technology company’s stock worth $10,999,000 after buying an additional 11,708 shares during the last quarter. Morgan Stanley raised its stake in shares of Tyler Technologies by 24.5% in the first quarter. Morgan Stanley now owns 71,848 shares of the technology company’s stock worth $11,105,000 after buying an additional 14,119 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Tyler Technologies by 10.9% in the first quarter. Stifel Financial Corp now owns 7,158 shares of the technology company’s stock worth $1,106,000 after buying an additional 701 shares during the last quarter. Institutional investors and hedge funds own 90.31% of the company’s stock.
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About Tyler Technologies
Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company operates through two segments: Enterprise Software (ES) segment and The Appraisal and Tax (A&T) segment. ES segment provides municipal and county governments and schools with software systems and services for information technology and automation needs that includes back-office functions, such as financial management, courts and justice processes, public safety, planning regulatory and maintenance, and land and vital records management.
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