Brokerages Expect Tyler Technologies, Inc. (TYL) Will Announce Quarterly Sales of $220.87 Million
Equities analysts predict that Tyler Technologies, Inc. (NYSE:TYL) will post sales of $220.87 million for the current quarter, according to Zacks. Four analysts have made estimates for Tyler Technologies’ earnings. The lowest sales estimate is $219.91 million and the highest is $221.52 million. Tyler Technologies reported sales of $193.28 million in the same quarter last year, which indicates a positive year over year growth rate of 14.3%. The company is scheduled to announce its next quarterly earnings report on Wednesday, February 14th.
On average, analysts expect that Tyler Technologies will report full year sales of $220.87 million for the current year, with estimates ranging from $843.59 million to $848.70 million. For the next financial year, analysts forecast that the business will post sales of $933.79 million per share, with estimates ranging from $927.19 million to $944.67 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Tyler Technologies.
Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 25th. The technology company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.03. The business had revenue of $214.15 million for the quarter, compared to the consensus estimate of $216.80 million. Tyler Technologies had a return on equity of 12.81% and a net margin of 16.34%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 earnings per share.
Several research firms have recently weighed in on TYL. Piper Jaffray Companies restated a “buy” rating and issued a $200.00 target price on shares of Tyler Technologies in a research report on Friday, October 27th. B. Riley downgraded Tyler Technologies from a “buy” rating to a “neutral” rating and set a $184.00 target price on the stock. in a research report on Friday, October 27th. Maxim Group set a $197.00 target price on Tyler Technologies and gave the company a “buy” rating in a research report on Thursday, July 27th. Needham & Company LLC restated a “buy” rating on shares of Tyler Technologies in a research report on Tuesday, October 24th. Finally, KeyCorp restated a “buy” rating and issued a $180.00 target price on shares of Tyler Technologies in a research report on Friday, October 6th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $193.00.
In other Tyler Technologies news, Director Luther King, Jr. sold 1,500 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $176.95, for a total transaction of $265,425.00. Following the completion of the sale, the director now owns 72,864 shares of the company’s stock, valued at $12,893,284.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Larry D. Leinweber sold 3,612 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $170.03, for a total value of $614,148.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 253,336 shares of company stock valued at $43,612,205. Insiders own 10.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in Tyler Technologies by 40.2% during the second quarter. JPMorgan Chase & Co. now owns 1,027,797 shares of the technology company’s stock worth $180,554,000 after acquiring an additional 294,817 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Tyler Technologies by 3.5% during the second quarter. Louisiana State Employees Retirement System now owns 8,800 shares of the technology company’s stock worth $1,546,000 after acquiring an additional 300 shares during the last quarter. Morgan Stanley increased its stake in Tyler Technologies by 24.5% during the first quarter. Morgan Stanley now owns 71,848 shares of the technology company’s stock worth $11,105,000 after acquiring an additional 14,119 shares during the last quarter. Legal & General Group Plc increased its stake in Tyler Technologies by 25.2% during the second quarter. Legal & General Group Plc now owns 26,654 shares of the technology company’s stock worth $4,682,000 after acquiring an additional 5,361 shares during the last quarter. Finally, Howard Hughes Medical Institute acquired a new stake in Tyler Technologies during the second quarter worth $1,048,000. 90.13% of the stock is owned by institutional investors.
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Tyler Technologies (NYSE TYL) opened at $172.66 on Wednesday. The firm has a market capitalization of $6,480.00, a P/E ratio of 53.96 and a beta of 0.98. Tyler Technologies has a 1 year low of $139.61 and a 1 year high of $183.98.
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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