Tyler Technologies, Inc. (TYL) Rating Increased to Hold at Zacks Investment Research
Tyler Technologies, Inc. (NYSE:TYL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday.
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. “
A number of other equities research analysts have also recently weighed in on TYL. Maxim Group reaffirmed a “buy” rating and set a $197.00 price target on shares of Tyler Technologies in a report on Thursday, April 27th. B. Riley reaffirmed a “buy” rating and set a $184.00 price target on shares of Tyler Technologies in a report on Friday, April 28th. Finally, BidaskClub cut Tyler Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Tyler Technologies currently has a consensus rating of “Buy” and a consensus target price of $187.17.
Tyler Technologies (NYSE TYL) opened at 169.76 on Friday. The stock’s 50 day moving average price is $172.80 and its 200-day moving average price is $163.87. Tyler Technologies has a 52 week low of $139.61 and a 52 week high of $182.49. The stock has a market capitalization of $6.33 billion, a P/E ratio of 50.86 and a beta of 0.95.
Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by $0.03. The business had revenue of $209.12 million for the quarter, compared to the consensus estimate of $210.67 million. Tyler Technologies had a net margin of 14.73% and a return on equity of 13.02%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $0.86 EPS. Equities research analysts expect that Tyler Technologies will post $3.87 earnings per share for the current year.
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In related news, Director Dustin R. Womble sold 22,000 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $172.07, for a total transaction of $3,785,540.00. Following the sale, the director now owns 234,950 shares of the company’s stock, valued at $40,427,846.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Donald R. Brattain sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $167.75, for a total value of $419,375.00. Following the sale, the director now directly owns 15,220 shares in the company, valued at approximately $2,553,155. The disclosure for this sale can be found here. In the last three months, insiders have sold 210,753 shares of company stock worth $36,096,979. 10.30% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the company. Teachers Advisors LLC boosted its stake in shares of Tyler Technologies by 2.9% in the fourth quarter. Teachers Advisors LLC now owns 46,469 shares of the technology company’s stock valued at $6,634,000 after buying an additional 1,305 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Tyler Technologies by 19.1% in the first quarter. Bank of Montreal Can now owns 60,705 shares of the technology company’s stock valued at $9,382,000 after buying an additional 9,725 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of Tyler Technologies by 5.9% in the first quarter. Capstone Asset Management Co. now owns 3,240 shares of the technology company’s stock valued at $501,000 after buying an additional 180 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Tyler Technologies by 3.7% in the first quarter. Louisiana State Employees Retirement System now owns 8,500 shares of the technology company’s stock valued at $1,314,000 after buying an additional 300 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its stake in shares of Tyler Technologies by 0.5% in the first quarter. Retirement Systems of Alabama now owns 43,266 shares of the technology company’s stock valued at $6,687,000 after buying an additional 226 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.
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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