Zacks Investment Research Upgrades Tyler Technologies (NYSE:TYL) to “Hold”
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 have also commented on TYL. Northland Securities restated a “buy” rating on shares of Tyler Technologies in a research note on Thursday, August 1st. KeyCorp restated a “hold” rating on shares of Tyler Technologies in a research note on Thursday, August 1st. DA Davidson upped their price objective on shares of Tyler Technologies from $216.00 to $238.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. They noted that the move was a valuation call. ValuEngine downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Tyler Technologies in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $271.25.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by ($0.01). Tyler Technologies had a return on equity of 11.51% and a net margin of 12.63%. The business had revenue of $275.40 million for the quarter, compared to analyst estimates of $281.03 million. During the same quarter last year, the company earned $1.23 EPS. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, equities analysts predict that Tyler Technologies will post 4.15 earnings per share for the current year.
In related news, Director Brenda A. Cline sold 5,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $256.91, for a total transaction of $1,284,550.00. Following the completion of the sale, the director now directly owns 7,099 shares of the company’s stock, valued at approximately $1,823,804.09. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman John S. Marr, Jr. sold 20,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $258.03, for a total transaction of $5,160,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,700 shares of company stock valued at $18,483,930. 4.40% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of TYL. Janney Montgomery Scott LLC boosted its holdings in Tyler Technologies by 1.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 3,742 shares of the technology company’s stock valued at $982,000 after purchasing an additional 38 shares during the period. Parkside Financial Bank & Trust boosted its holdings in Tyler Technologies by 7.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 637 shares of the technology company’s stock valued at $167,000 after purchasing an additional 42 shares during the period. BB&T Securities LLC boosted its holdings in Tyler Technologies by 1.5% in the 3rd quarter. BB&T Securities LLC now owns 3,079 shares of the technology company’s stock valued at $815,000 after purchasing an additional 46 shares during the period. Cerebellum GP LLC boosted its holdings in Tyler Technologies by 25.0% in the 3rd quarter. Cerebellum GP LLC now owns 250 shares of the technology company’s stock valued at $66,000 after purchasing an additional 50 shares during the period. Finally, Zions Bancorporation N.A. boosted its holdings in Tyler Technologies by 6.2% in the 2nd quarter. Zions Bancorporation N.A. now owns 971 shares of the technology company’s stock valued at $210,000 after purchasing an additional 57 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.
About Tyler Technologies
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
Recommended Story: Investing in Growth Stocks
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tyler Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyler Technologies and related companies with MarketBeat.com's FREE daily email newsletter.