A number of other research firms also recently weighed in on TYL. Needham & Company LLC reissued a buy rating on shares of Tyler Technologies in a research report on Tuesday, October 24th. KeyCorp reissued a buy rating and set a $180.00 price target on shares of Tyler Technologies in a research report on Friday, October 6th. Zacks Investment Research downgraded shares of Tyler Technologies from a strong-buy rating to a hold rating in a research report on Thursday, July 13th. BidaskClub downgraded shares of Tyler Technologies from a strong-buy rating to a buy rating in a report on Monday, July 31st. Finally, Citigroup Inc. started coverage on shares of Tyler Technologies in a report on Friday, September 22nd. They issued a buy rating and a $200.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Tyler Technologies presently has an average rating of Buy and a consensus price target of $192.29.
Shares of Tyler Technologies (TYL) opened at 180.33 on Thursday. The stock’s 50 day moving average is $174.47 and its 200 day moving average is $170.84. The stock has a market cap of $6.73 billion, a P/E ratio of 54.02 and a beta of 0.93. Tyler Technologies has a 12 month low of $139.61 and a 12 month high of $183.98.
Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 25th. The technology company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.03. Tyler Technologies had a net margin of 16.34% and a return on equity of 12.81%. The business had revenue of $214.15 million during the quarter, compared to the consensus estimate of $216.80 million. During the same quarter last year, the company earned $0.94 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. Analysts predict that Tyler Technologies will post $3.86 earnings per share for the current fiscal year.
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In related news, VP Brian K. Miller sold 9,760 shares of Tyler Technologies stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $169.01, for a total transaction of $1,649,537.60. Following the sale, the vice president now directly owns 53,194 shares in the company, valued at $8,990,317.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Brian K. Miller sold 5,000 shares of Tyler Technologies stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $171.63, for a total transaction of $858,150.00. Following the sale, the vice president now owns 53,194 shares in the company, valued at $9,129,686.22. The disclosure for this sale can be found here. Insiders sold 243,357 shares of company stock worth $41,622,109 over the last quarter. 10.30% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of TYL. BlackRock Inc. raised its stake in shares of Tyler Technologies by 16,997.6% during the first quarter. BlackRock Inc. now owns 2,737,663 shares of the technology company’s stock valued at $423,133,000 after purchasing an additional 2,721,651 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Tyler Technologies by 327.0% during the second quarter. Janus Henderson Group PLC now owns 1,865,432 shares of the technology company’s stock valued at $327,700,000 after purchasing an additional 1,428,513 shares in the last quarter. Koch Industries Inc. raised its stake in shares of Tyler Technologies by 18,128.1% during the second quarter. Koch Industries Inc. now owns 401,747 shares of the technology company’s stock valued at $399,000 after purchasing an additional 399,543 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Tyler Technologies by 40.2% during the second quarter. JPMorgan Chase & Co. now owns 1,027,797 shares of the technology company’s stock valued at $180,554,000 after purchasing an additional 294,817 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Tyler Technologies by 71.8% during the second quarter. Franklin Resources Inc. now owns 536,791 shares of the technology company’s stock valued at $94,299,000 after purchasing an additional 224,410 shares in the last quarter. Institutional investors and hedge funds own 90.48% of the company’s stock.
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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