Equities researchers at Citigroup Inc. started coverage on shares of Tyler Technologies, Inc. (NYSE:TYL) in a note issued to investors on Friday. The firm set a “buy” rating and a $200.00 price target on the technology company’s stock. Citigroup Inc.’s price objective would indicate a potential upside of 15.34% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on the stock. Northland Securities reaffirmed a “buy” rating and set a $200.00 price target on shares of Tyler Technologies in a research note on Thursday. Piper Jaffray Companies reaffirmed a “buy” rating and set a $200.00 price target on shares of Tyler Technologies in a research note on Sunday, August 27th. BidaskClub raised shares of Tyler Technologies from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Zacks Investment Research raised shares of Tyler Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Finally, B. Riley reaffirmed a “buy” rating and set a $184.00 price target on shares of Tyler Technologies in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $195.29.
Tyler Technologies (NYSE TYL) opened at 173.40 on Friday. Tyler Technologies has a 52 week low of $139.61 and a 52 week high of $182.49. The stock has a market capitalization of $6.47 billion, a P/E ratio of 51.95 and a beta of 0.95. The firm’s 50-day moving average is $170.29 and its 200-day moving average is $166.78.
Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.91 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $209.12 million for the quarter, compared to analyst estimates of $210.67 million. During the same period in the prior year, the business earned $0.86 earnings per share. Tyler Technologies’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts predict that Tyler Technologies will post $3.87 EPS for the current fiscal year.
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In related news, VP Brian K. Miller sold 1,848 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $172.58, for a total value of $318,927.84. Following the sale, the vice president now directly owns 52,657 shares of the company’s stock, valued at $9,087,545.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian K. Miller sold 9,760 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $169.01, for a total transaction of $1,649,537.60. Following the completion of the sale, the vice president now directly owns 53,194 shares in the company, valued at $8,990,317.94. The disclosure for this sale can be found here. Insiders sold 279,357 shares of company stock worth $47,777,389 over the last three months. Corporate insiders own 10.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of TYL. BlackRock Inc. raised its holdings in Tyler Technologies by 16,997.6% in the first quarter. BlackRock Inc. now owns 2,737,663 shares of the technology company’s stock valued at $423,133,000 after buying an additional 2,721,651 shares during the period. Janus Henderson Group PLC raised its holdings in Tyler Technologies by 327.0% in 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 buying an additional 1,428,513 shares during the period. Koch Industries Inc. raised its holdings in Tyler Technologies by 18,128.1% in the second quarter. Koch Industries Inc. now owns 401,747 shares of the technology company’s stock valued at $399,000 after buying an additional 399,543 shares during the period. JPMorgan Chase & Co. raised its holdings in Tyler Technologies by 40.2% in the second quarter. JPMorgan Chase & Co. now owns 1,027,797 shares of the technology company’s stock valued at $180,554,000 after buying an additional 294,817 shares during the period. Finally, Praesidium Investment Management Company LLC raised its holdings in Tyler Technologies by 143.5% in the first quarter. Praesidium Investment Management Company LLC now owns 449,263 shares of the technology company’s stock valued at $69,438,000 after buying an additional 264,783 shares during the period. Hedge funds and other institutional investors own 90.51% 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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