William Blair Equities Analysts Reduce Earnings Estimates for Tyler Technologies, Inc. (NYSE:TYL)

Tyler Technologies, Inc. (NYSE:TYL) – Investment analysts at William Blair dropped their FY2017 EPS estimates for shares of Tyler Technologies in a research note issued to investors on Thursday. William Blair analyst J. Ho now expects that the technology company will earn $3.26 per share for the year, down from their previous estimate of $3.29.

A number of other research firms also recently commented on TYL. B. Riley reaffirmed a “buy” rating and set a $184.00 target price on shares of Tyler Technologies in a report on Tuesday, May 9th. BidaskClub downgraded Tyler Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday. Zacks Investment Research raised Tyler Technologies from a “hold” rating to a “strong-buy” rating and set a $201.00 target price for the company in a report on Thursday, June 29th. Finally, Maxim Group set a $197.00 target price on Tyler Technologies and gave the stock a “buy” rating in a report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Tyler Technologies presently has an average rating of “Buy” and an average target price of $187.17.

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Tyler Technologies (NYSE:TYL) opened at 171.81 on Monday. The firm has a 50-day moving average price of $173.71 and a 200-day moving average price of $162.03. Tyler Technologies has a 12 month low of $139.61 and a 12 month high of $182.49. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 51.47 and a beta of 0.96.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, July 26th. The technology company reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by $0.03. Tyler Technologies had a return on equity of 13.02% and a net margin of 14.73%. The business had revenue of $209.12 million during the quarter, compared to analysts’ expectations of $210.67 million. During the same period last year, the firm posted $0.86 EPS. Tyler Technologies’s quarterly revenue was up 10.7% compared to the same quarter last year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Assetmark Inc. boosted its position in shares of Tyler Technologies by 15.1% in the first quarter. Assetmark Inc. now owns 761 shares of the technology company’s stock valued at $118,000 after buying an additional 100 shares in the last quarter. New England Research & Management Inc. acquired a new stake in Tyler Technologies during the first quarter worth approximately $201,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tyler Technologies by 32.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,298 shares of the technology company’s stock worth $201,000 after buying an additional 317 shares during the period. YHB Investment Advisors Inc. acquired a new stake in Tyler Technologies during the second quarter worth approximately $209,000. Finally, Pennsylvania Trust Co acquired a new stake in Tyler Technologies during the first quarter worth approximately $239,000. Institutional investors own 90.31% of the company’s stock.

In related news, CEO John S. Marr, Jr. sold 23,960 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $167.69, for a total transaction of $4,017,852.40. Following the completion of the transaction, the chief executive officer now directly owns 355,437 shares in the company, valued at $59,603,230.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Larry D. Leinweber sold 84,000 shares of Tyler Technologies stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $165.51, for a total value of $13,902,840.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 355,147 shares of company stock valued at $59,731,750. 10.30% of the stock is owned by company insiders.

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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