Shares of Tyler Technologies, Inc. (NYSE:TYL) have been given a consensus recommendation of “Buy” by the twelve brokerages that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $210.18.
A number of equities analysts have recently commented on TYL shares. Zacks Investment Research cut Tyler Technologies from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Piper Jaffray Companies restated an “overweight” rating and set a $220.00 price objective on shares of Tyler Technologies in a report on Tuesday, January 16th. Maxim Group boosted their price objective on Tyler Technologies from $197.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 16th. Needham & Company LLC restated a “buy” rating and set a $235.00 price objective on shares of Tyler Technologies in a report on Friday, February 23rd. Finally, Evercore ISI restated a “buy” rating and set a $210.00 price objective on shares of Tyler Technologies in a report on Friday, February 23rd.
Shares of Tyler Technologies (NYSE:TYL) traded down $2.43 during trading on Friday, hitting $210.05. The stock had a trading volume of 151,185 shares, compared to its average volume of 219,225. The stock has a market cap of $8,050.17, a PE ratio of 50.37 and a beta of 0.97. Tyler Technologies has a 12-month low of $152.00 and a 12-month high of $214.33.
Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, February 21st. The technology company reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.03. The firm had revenue of $217.85 million during the quarter, compared to analysts’ expectations of $220.56 million. Tyler Technologies had a return on equity of 12.49% and a net margin of 19.50%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. equities analysts anticipate that Tyler Technologies will post 3.87 earnings per share for the current fiscal year.
In related news, VP Brian K. Miller sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $210.54, for a total transaction of $1,052,700.00. Following the completion of the transaction, the vice president now owns 55,114 shares in the company, valued at approximately $11,603,701.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dustin R. Womble sold 20,000 shares of Tyler Technologies stock in a transaction on Friday, March 9th. The shares were sold at an average price of $211.12, for a total value of $4,222,400.00. Following the sale, the director now directly owns 1,500 shares of the company’s stock, valued at $316,680. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,582 shares of company stock valued at $23,816,504. 10.30% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Zions Bancorporation bought a new stake in Tyler Technologies during the 3rd quarter valued at $156,000. San Francisco Sentry Investment Group CA raised its position in Tyler Technologies by 1,334.7% during the 4th quarter. San Francisco Sentry Investment Group CA now owns 1,076 shares of the technology company’s stock valued at $191,000 after purchasing an additional 1,001 shares in the last quarter. CIBC Asset Management Inc bought a new stake in Tyler Technologies during the 3rd quarter valued at $218,000. Stone Ridge Asset Management LLC bought a new stake in Tyler Technologies during the 4th quarter valued at $229,000. Finally, MML Investors Services LLC bought a new stake in Tyler Technologies during the 4th quarter valued at $253,000. 94.47% of the stock is owned by institutional investors and hedge funds.
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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