Tyler Technologies (TYL) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Tyler Technologies (NYSE:TYL) issued its quarterly earnings data on Wednesday. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03, Stock Ratings Network reports. The company had revenue of $107.00 million for the quarter, compared to the consensus estimate of $105.60 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Tyler Technologies updated its FY13 guidance to $1.49 to $1.54 EPS.
Shares of Tyler Technologies (NYSE:TYL) traded down 1.02% on Wednesday, hitting $91.83. 183,907 shares of the company’s stock traded hands. Tyler Technologies has a 52-week low of $41.19 and a 52-week high of $81.93. The stock has a 50-day moving average of $75.76 and a 200-day moving average of $67.74. The company has a market cap of $2.924 billion and a price-to-earnings ratio of 83.06.
A number of analysts have recently weighed in on TYL shares. Analysts at Benchmark Co. raised their price target on shares of Tyler Technologies from $83.00 to $96.00 in a research note to investors on Tuesday, October 1st. They now have a “buy” rating on the stock. On the ratings front, analysts at Zacks downgraded shares of Tyler Technologies from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, September 2nd. They now have a $81.40 price target on the stock. Finally, analysts at Evercore Partners initiated coverage on shares of Tyler Technologies in a research note to investors on Tuesday, August 13th. They set an “equal weight” rating and a $80.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Tyler Technologies has a consensus rating of “Hold” and an average target price of $71.44.
Tyler Technologies, Inc (NYSE:TYL) is a provider of integrated information management solutions and services for the public sector, with a focus on local governments.
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