Tyler Technologies, Inc. (NYSE:TYL) Stock Rating Reaffirmed by B. Riley
Tyler Technologies, Inc. (NYSE:TYL)‘s stock had its “buy” rating reiterated by research analysts at B. Riley in a research report issued to clients and investors on Friday. They presently have a $184.00 price objective on the technology company’s stock. B. Riley’s price target would suggest a potential upside of 8.30% from the stock’s previous close.
A number of other analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Tyler Technologies from a “hold” rating to a “strong-buy” rating and set a $201.00 price target for the company in a report on Thursday, June 29th. Maxim Group reissued a “buy” rating and issued a $197.00 price target on shares of Tyler Technologies in a report on Thursday, April 27th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Tyler Technologies currently has an average rating of “Buy” and an average target price of $185.38.
Tyler Technologies (TYL) traded up 0.53% during midday trading on Friday, hitting $170.80. 61,714 shares of the stock traded hands. The company has a 50-day moving average of $173.58 and a 200-day moving average of $161.58. Tyler Technologies has a 1-year low of $139.61 and a 1-year high of $182.49. The stock has a market cap of $6.33 billion, a PE ratio of 53.69 and a beta of 0.96.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by $0.03. Tyler Technologies had a net margin of 13.48% and a return on equity of 13.12%. The company had revenue of $209.12 million during the quarter, compared to the consensus estimate of $210.67 million. During the same period last year, the company 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 analysts expect that Tyler Technologies will post $3.87 EPS for the current fiscal year.
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In other Tyler Technologies news, Director Larry D. Leinweber sold 50,415 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $165.96, for a total value of $8,366,873.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Larry D. Leinweber sold 36,000 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $163.55, for a total transaction of $5,887,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 391,147 shares of company stock valued at $65,619,550 in the last quarter. 10.30% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of TYL. Eagle Asset Management boosted its stake in Tyler Technologies by 145.6% in the third quarter. Eagle Asset Management now owns 393,926 shares of the technology company’s stock valued at $58,816,000 after buying an additional 233,565 shares during the last quarter. Hanseatic Management Services Inc. acquired a new position in shares of Tyler Technologies during the fourth quarter valued at about $1,899,000. EQIS Capital Management raised its position in shares of Tyler Technologies by 33.9% in the fourth quarter. EQIS Capital Management now owns 6,934 shares of the technology company’s stock valued at $1,209,000 after buying an additional 1,754 shares during the period. ClariVest Asset Management LLC acquired a new position in shares of Tyler Technologies during the fourth quarter valued at about $3,281,000. Finally, Meeder Asset Management acquired a new position in shares of Tyler Technologies during the fourth quarter valued at about $1,017,000. Hedge funds and other institutional investors own 89.96% 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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