Tyler Technologies, Inc. (NYSE:TYL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday, July 13th.
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. “
A number of other equities analysts have also recently weighed in on TYL. B. Riley reissued a “buy” rating and set a $184.00 price target on shares of Tyler Technologies in a research report on Tuesday, May 9th. Maxim Group reaffirmed a “buy” rating and issued a $197.00 price objective on shares of Tyler Technologies in a research report on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Tyler Technologies has an average rating of “Buy” and an average price target of $187.17.
Tyler Technologies (NYSE TYL) traded up 1.07% during mid-day trading on Thursday, hitting $169.53. The stock had a trading volume of 187,122 shares. Tyler Technologies has a 1-year low of $139.61 and a 1-year high of $182.49. The company has a market cap of $6.32 billion, a P/E ratio of 50.79 and a beta of 0.95. The company has a 50-day moving average price of $173.66 and a 200 day moving average price of $162.89.
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 firm had revenue of $209.12 million for the quarter, compared to the consensus estimate of $210.67 million. Tyler Technologies had a return on equity of 12.77% and a net margin of 15.10%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.86 earnings per share. Equities research analysts forecast that Tyler Technologies will post $3.87 EPS for the current fiscal year.
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In other Tyler Technologies news, CEO John S. Marr, Jr. sold 23,960 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $167.69, for a total transaction of $4,017,852.40. Following the sale, the chief executive officer now directly owns 355,437 shares of the company’s stock, valued at approximately $59,603,230.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian K. Miller sold 13,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $169.43, for a total transaction of $2,202,590.00. Following the sale, the chief financial officer now directly owns 55,044 shares in the company, valued at $9,326,104.92. The disclosure for this sale can be found here. Insiders have sold a total of 237,253 shares of company stock worth $40,508,996 over the last three months. Insiders own 10.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC raised its position in Tyler Technologies by 7.8% in the second quarter. Parametric Portfolio Associates LLC now owns 72,455 shares of the technology company’s stock valued at $12,728,000 after buying an additional 5,263 shares in the last quarter. Advisor Group Inc. raised its position in Tyler Technologies by 27.5% in the second quarter. Advisor Group Inc. now owns 1,517 shares of the technology company’s stock valued at $267,000 after buying an additional 327 shares in the last quarter. Nordea Investment Management AB raised its position in Tyler Technologies by 15.0% in the second quarter. Nordea Investment Management AB now owns 11,318 shares of the technology company’s stock valued at $1,988,000 after buying an additional 1,477 shares in the last quarter. Suntrust Banks Inc. raised its position in Tyler Technologies by 14.8% in the second quarter. Suntrust Banks Inc. now owns 3,851 shares of the technology company’s stock valued at $674,000 after buying an additional 496 shares in the last quarter. Finally, Connors Investor Services Inc. raised its position in Tyler Technologies by 4.1% in the second quarter. Connors Investor Services Inc. now owns 91,639 shares of the technology company’s stock valued at $16,098,000 after buying an additional 3,650 shares in the last quarter. Institutional investors own 89.77% 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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