Zacks: Brokerages Expect Tyler Technologies, Inc. (TYL) Will Post Earnings of $1.04 Per Share
Brokerages expect Tyler Technologies, Inc. (NYSE:TYL) to report $1.04 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Tyler Technologies’ earnings, with estimates ranging from $1.03 to $1.06. Tyler Technologies reported earnings per share of $0.90 during the same quarter last year, which would suggest a positive year over year growth rate of 15.6%. The firm is scheduled to announce its next earnings report after the market closes on Wednesday, February 21st.
According to Zacks, analysts expect that Tyler Technologies will report full year earnings of $3.90 per share for the current year, with EPS estimates ranging from $3.89 to $3.91. For the next year, analysts expect that the firm will post earnings of $4.38 per share, with EPS estimates ranging from $4.32 to $4.45. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Tyler Technologies.
A number of research firms have recently commented on TYL. Piper Jaffray Companies reissued an “overweight” rating and set a $220.00 target price on shares of Tyler Technologies in a research note on Tuesday, January 16th. B. Riley lowered Tyler Technologies from a “buy” rating to a “neutral” rating and set a $184.00 price target on the stock. in a report on Friday, October 27th. Zacks Investment Research lowered Tyler Technologies from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Needham & Company LLC reiterated a “buy” rating on shares of Tyler Technologies in a report on Tuesday, October 24th. Finally, Maxim Group set a $197.00 price target on Tyler Technologies and gave the stock a “buy” rating in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $195.50.
In other news, Director Larry D. Leinweber sold 4,371 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $184.42, for a total value of $806,099.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dustin R. Womble sold 8,100 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $172.15, for a total value of $1,394,415.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 284,707 shares of company stock valued at $51,517,784. Company insiders own 10.30% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Zions Bancorporation purchased a new stake in shares of Tyler Technologies in the third quarter worth approximately $156,000. CIBC Asset Management Inc purchased a new stake in shares of Tyler Technologies in the third quarter worth approximately $218,000. D.A. Davidson & CO. raised its stake in shares of Tyler Technologies by 13.3% in the second quarter. D.A. Davidson & CO. now owns 1,391 shares of the technology company’s stock worth $244,000 after purchasing an additional 163 shares during the last quarter. Bell Bank purchased a new stake in shares of Tyler Technologies in the third quarter worth approximately $254,000. Finally, Gofen & Glossberg LLC IL purchased a new stake in shares of Tyler Technologies in the second quarter worth approximately $256,000. 92.38% of the stock is owned by hedge funds and other institutional investors.
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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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