Tyler Technologies Inc. (TYL) Given Average Rating of “Buy” by Analysts
Tyler Technologies Inc. (NYSE:TYL) has been given a consensus recommendation of “Buy” by the sixteen research firms that are covering the company. Two investment analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $179.09.
Several research firms have recently weighed in on TYL. Maxim Group increased their price target on Tyler Technologies from $196.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Pacific Crest reiterated a “buy” rating and set a $178.00 price target (up previously from $176.00) on shares of Tyler Technologies in a research note on Tuesday, September 13th. Evercore Partners Inc. upgraded Tyler Technologies to a “buy” rating in a research note on Monday, June 27th. B. Riley reiterated a “buy” rating and set a $176.00 price target on shares of Tyler Technologies in a research note on Wednesday, August 3rd. Finally, KeyCorp increased their price target on Tyler Technologies from $176.00 to $178.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 13th.
Tyler Technologies (NYSE:TYL) traded down 0.65% on Thursday, reaching $169.09. The company had a trading volume of 80,411 shares. The stock’s 50-day moving average price is $169.61 and its 200-day moving average price is $157.09. The stock has a market capitalization of $6.14 billion, a P/E ratio of 98.54 and a beta of 1.28. Tyler Technologies has a 12-month low of $118.16 and a 12-month high of $184.01.
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Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, July 27th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.03. Tyler Technologies had a return on equity of 13.07% and a net margin of 9.54%. The firm earned $188.97 million during the quarter, compared to analyst estimates of $192.12 million. During the same period last year, the firm posted $0.65 EPS. The business’s revenue was up 29.2% compared to the same quarter last year. On average, equities research analysts anticipate that Tyler Technologies will post $3.48 EPS for the current fiscal year.
In other Tyler Technologies news, Director Luther King, Jr. sold 1,800 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $160.76, for a total value of $289,368.00. Following the sale, the director now owns 72,864 shares of the company’s stock, valued at approximately $11,713,616.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Luther King, Jr. sold 500 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $160.40, for a total value of $80,200.00. Following the completion of the sale, the director now directly owns 72,864 shares in the company, valued at approximately $11,687,385.60. The disclosure for this sale can be found here. 12.00% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC boosted its position in shares of Tyler Technologies by 0.4% in the second quarter. Hsbc Holdings PLC now owns 3,536 shares of the company’s stock worth $591,000 after buying an additional 13 shares in the last quarter. Commerce Bank boosted its position in shares of Tyler Technologies by 0.4% in the second quarter. Commerce Bank now owns 6,115 shares of the company’s stock worth $1,020,000 after buying an additional 25 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of Tyler Technologies by 0.9% in the third quarter. Capstone Asset Management Co. now owns 3,760 shares of the company’s stock worth $644,000 after buying an additional 32 shares in the last quarter. Creative Planning boosted its position in shares of Tyler Technologies by 5.1% in the third quarter. Creative Planning now owns 683 shares of the company’s stock worth $117,000 after buying an additional 33 shares in the last quarter. Finally, Eqis Capital Management Inc. boosted its position in shares of Tyler Technologies by 0.7% in the second quarter. Eqis Capital Management Inc. now owns 6,351 shares of the company’s stock worth $1,059,000 after buying an additional 42 shares in the last quarter. 90.95% of the stock is currently owned by hedge funds and other institutional investors.
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 provides professional information technology (IT) services to its clients, including software and hardware installation, data conversion, training and product modifications.
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