Tyler Technologies, Inc. (TYL) Rating Reiterated by Piper Jaffray Companies
Tyler Technologies, Inc. (NYSE:TYL)‘s stock had its “buy” rating reissued by stock analysts at Piper Jaffray Companies in a note issued to investors on Sunday. They currently have a $200.00 price target on the technology company’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 18.32% from the company’s previous close.
TYL has been the topic of a number of other reports. Zacks Investment Research upgraded Tyler Technologies from a “hold” rating to a “strong-buy” rating and set a $201.00 price target on the stock in a research report on Thursday, June 29th. Maxim Group set a $197.00 price target on Tyler Technologies and gave the stock a “buy” rating in a research report on Monday, July 17th. BidaskClub cut Tyler Technologies from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, B. Riley reiterated a “buy” rating and set a $184.00 price target on shares of Tyler Technologies in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Tyler Technologies currently has an average rating of “Buy” and a consensus target price of $189.00.
Tyler Technologies (TYL) opened at 169.04 on Friday. Tyler Technologies has a 12-month low of $139.61 and a 12-month high of $182.49. The stock’s 50 day moving average is $172.62 and its 200 day moving average is $164.75. The firm has a market cap of $6.31 billion, a P/E ratio of 50.64 and a beta of 0.95.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $209.12 million for the quarter, compared to analyst estimates of $210.67 million. Tyler Technologies had a return on equity of 13.02% and a net margin of 14.73%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 earnings per share. On average, equities research analysts expect that Tyler Technologies will post $3.87 EPS for the current year.
In related news, Director Donald R. Brattain sold 2,500 shares of the firm’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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John S. Marr, Jr. sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $170.30, for a total value of $3,065,400.00. Following the completion of the sale, the chief executive officer now owns 339,457 shares in the company, valued at $57,809,527.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 225,396 shares of company stock worth $38,551,634. 10.30% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Wasatch Advisors Inc. boosted its stake in Tyler Technologies by 6.2% in the second quarter. Wasatch Advisors Inc. now owns 424,479 shares of the technology company’s stock valued at $74,568,000 after buying an additional 24,774 shares in the last quarter. Gofen & Glossberg LLC IL acquired a new stake in Tyler Technologies during the second quarter valued at approximately $256,000. Public Employees Retirement System of Ohio boosted its stake in Tyler Technologies by 26.4% in the second quarter. Public Employees Retirement System of Ohio now owns 92,028 shares of the technology company’s stock valued at $16,167,000 after buying an additional 19,246 shares in the last quarter. Koch Industries Inc. boosted its stake in Tyler Technologies by 18,128.1% in the second quarter. Koch Industries Inc. now owns 401,747 shares of the technology company’s stock valued at $399,000 after buying an additional 399,543 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC boosted its stake in Tyler Technologies by 9.9% in the second quarter. Grandeur Peak Global Advisors LLC now owns 3,325 shares of the technology company’s stock valued at $584,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.
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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