Tyler Technologies, Inc. (TYL) Cut to Hold at Zacks Investment Research
Tyler Technologies, Inc. (NYSE:TYL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday, July 13th.
According to Zacks, “Tyler Technologies, Inc. is engaged in providing integrated information management solutions and services to the public sector. It provides software products and services; professional IT services; subscription-based services; property appraisal outsourcing services. Its products generally automate three major functional areas (1) financial management and education, (2) courts and justice and (3) property appraisal and tax. Tyler operates in two reportable segments: Enterprise Software Solutions (ESS) and Appraisal and Tax Software Solutions and Services. The Enterprise Software Solutions (ESS) segment provides software systems to municipal and county governments and schools. The Appraisal and Tax Software Solutions and Services segment provides systems and software that automate the appraisal and assessment of real and personal property as well as property appraisal outsourcing services for local governments and taxing authorities. Tyler Technologies, Inc. is headquartered in Dallas, Texas. “
Several other research analysts also recently weighed in on the stock. Maxim Group reissued a “buy” rating and issued a $197.00 target price on shares of Tyler Technologies in a research report on Thursday, April 27th. B. Riley restated a “buy” rating and set a $184.00 price target on shares of Tyler Technologies in a report on Sunday, May 14th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Tyler Technologies presently has an average rating of “Buy” and a consensus price target of $187.17.
Shares of Tyler Technologies (TYL) opened at 167.49 on Thursday. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 50.18 and a beta of 0.95. Tyler Technologies has a 1-year low of $139.61 and a 1-year high of $182.49. The stock’s 50 day moving average is $173.89 and its 200 day moving average is $162.36.
Tyler Technologies (NYSE:TYL) last released its earnings results 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. The firm had revenue of $209.12 million during the quarter, compared to analysts’ expectations of $210.67 million. Tyler Technologies had a return on equity of 13.02% and a net margin of 14.73%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the business earned $0.86 earnings per share. On average, equities analysts forecast that Tyler Technologies will post $3.87 EPS for the current year.
In other Tyler Technologies news, Director Larry D. Leinweber sold 19,021 shares of Tyler Technologies stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $170.18, for a total value of $3,236,993.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Larry D. Leinweber sold 36,000 shares of Tyler Technologies stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold 234,753 shares of company stock valued at $40,089,621 over the last quarter. Corporate insiders own 10.30% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in TYL. BlackRock Inc. raised its position in Tyler Technologies by 16,997.6% in the first quarter. BlackRock Inc. now owns 2,737,663 shares of the technology company’s stock worth $423,133,000 after buying an additional 2,721,651 shares in the last quarter. Vanguard Group Inc. raised its position in Tyler Technologies by 5.3% in the first quarter. Vanguard Group Inc. now owns 2,653,514 shares of the technology company’s stock worth $410,127,000 after buying an additional 134,200 shares in the last quarter. Brown Capital Management LLC raised its position in Tyler Technologies by 2.3% in the first quarter. Brown Capital Management LLC now owns 2,236,904 shares of the technology company’s stock worth $345,736,000 after buying an additional 49,484 shares in the last quarter. Janus Capital Management LLC raised its position in Tyler Technologies by 11.8% in the first quarter. Janus Capital Management LLC now owns 1,509,335 shares of the technology company’s stock worth $233,283,000 after buying an additional 159,345 shares in the last quarter. Finally, TimesSquare Capital Management LLC raised its position in Tyler Technologies by 8.0% in the first quarter. TimesSquare Capital Management LLC now owns 880,630 shares of the technology company’s stock worth $136,110,000 after buying an additional 65,170 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.
Tyler Technologies Company Profile
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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