Tyler Technologies (NYSE:TYL) Announces Earnings Results

Tyler Technologies (NYSE:TYL) posted its earnings results on Wednesday. The technology company reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.07), FiscalAI reports. Tyler Technologies had a return on equity of 10.57% and a net margin of 13.72%.The business had revenue of $575.18 million during the quarter, compared to analysts’ expectations of $591.09 million.

Tyler Technologies Trading Down 5.7%

Tyler Technologies stock traded down $20.54 during mid-day trading on Wednesday, hitting $339.97. The stock had a trading volume of 1,250,171 shares, compared to its average volume of 570,894. Tyler Technologies has a one year low of $320.23 and a one year high of $661.31. The firm’s 50 day moving average is $432.55 and its 200 day moving average is $490.73. The firm has a market capitalization of $14.63 billion, a P/E ratio of 47.28, a P/E/G ratio of 2.39 and a beta of 0.91.

Analyst Ratings Changes

A number of brokerages recently weighed in on TYL. Oppenheimer lowered their target price on shares of Tyler Technologies from $600.00 to $510.00 and set an “outperform” rating on the stock in a research note on Friday, January 23rd. Robert W. Baird set a $660.00 price objective on shares of Tyler Technologies in a report on Friday, October 31st. BTIG Research reduced their price objective on Tyler Technologies from $560.00 to $470.00 and set a “buy” rating for the company in a research report on Monday. TD Cowen reiterated a “buy” rating on shares of Tyler Technologies in a report on Wednesday, February 4th. Finally, Stifel Nicolaus initiated coverage on shares of Tyler Technologies in a report on Wednesday, January 7th. They set a “buy” rating and a $550.00 price target on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $597.57.

Insider Activity

In related news, Director Glenn A. Carter sold 500 shares of Tyler Technologies stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $458.73, for a total value of $229,365.00. Following the completion of the transaction, the director owned 3,172 shares in the company, valued at approximately $1,455,091.56. This trade represents a 13.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $448.51, for a total transaction of $448,510.00. Following the completion of the sale, the chief financial officer owned 17,148 shares of the company’s stock, valued at $7,691,049.48. This trade represents a 5.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,500 shares of company stock worth $1,605,605 over the last ninety days. Insiders own 1.10% of the company’s stock.

Institutional Trading of Tyler Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. purchased a new stake in shares of Tyler Technologies in the 1st quarter worth approximately $38,000. Geneos Wealth Management Inc. raised its stake in Tyler Technologies by 137.9% in the first quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock worth $40,000 after buying an additional 40 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in Tyler Technologies by 35.5% during the third quarter. Brown Brothers Harriman & Co. now owns 103 shares of the technology company’s stock worth $54,000 after buying an additional 27 shares during the period. MUFG Securities EMEA plc bought a new stake in Tyler Technologies during the 2nd quarter valued at $75,000. Finally, Johnson Financial Group Inc. increased its holdings in shares of Tyler Technologies by 94.4% in the 3rd quarter. Johnson Financial Group Inc. now owns 210 shares of the technology company’s stock valued at $110,000 after acquiring an additional 102 shares during the period. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Company Profile

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.