Tyler Technologies (NYSE:TYL) Releases FY 2024 Earnings Guidance

Tyler Technologies (NYSE:TYL) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 9.100-9.300 for the period, compared to the consensus earnings per share estimate of 9.020. The company issued revenue guidance of $2.1 billion-$2.1 billion, compared to the consensus revenue estimate of $2.1 billion. Tyler Technologies also updated its FY24 guidance to $9.10-9.30 EPS.

Tyler Technologies Price Performance

TYL stock traded up $2.67 during trading on Friday, hitting $460.74. The stock had a trading volume of 282,294 shares, compared to its average volume of 211,816. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.86 and a quick ratio of 0.86. Tyler Technologies has a twelve month low of $361.16 and a twelve month high of $465.78. The stock has a market capitalization of $19.55 billion, a P/E ratio of 105.12, a PEG ratio of 4.12 and a beta of 0.81. The company’s 50-day moving average price is $422.62 and its two-hundred day moving average price is $414.83.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.06. The business had revenue of $480.94 million for the quarter, compared to analysts’ expectations of $483.34 million. Tyler Technologies had a return on equity of 9.49% and a net margin of 9.50%. As a group, research analysts predict that Tyler Technologies will post 6.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TYL. Robert W. Baird boosted their target price on Tyler Technologies from $500.00 to $525.00 and gave the stock an outperform rating in a report on Friday. Oppenheimer boosted their target price on Tyler Technologies from $480.00 to $500.00 and gave the company an outperform rating in a research report on Friday. DA Davidson boosted their target price on Tyler Technologies from $412.00 to $434.00 and gave the company a neutral rating in a research report on Thursday, February 22nd. JMP Securities reissued a market outperform rating and issued a $490.00 target price on shares of Tyler Technologies in a research report on Friday. Finally, Piper Sandler reissued an overweight rating and issued a $520.00 target price on shares of Tyler Technologies in a research report on Wednesday. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Tyler Technologies currently has a consensus rating of Moderate Buy and an average price target of $465.85.

Insider Activity at Tyler Technologies

In related news, CFO Brian K. Miller sold 5,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $442.99, for a total value of $2,214,950.00. Following the transaction, the chief financial officer now owns 14,610 shares of the company’s stock, valued at $6,472,083.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 1,849 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $421.19, for a total value of $778,780.31. Following the completion of the transaction, the chief executive officer now owns 79,502 shares in the company, valued at $33,485,447.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $442.99, for a total transaction of $2,214,950.00. Following the completion of the transaction, the chief financial officer now owns 14,610 shares of the company’s stock, valued at approximately $6,472,083.90. The disclosure for this sale can be found here. Insiders have sold 50,608 shares of company stock valued at $21,974,819 over the last quarter. 2.20% of the stock is owned by insiders.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.