Tyler Technologies, Inc. (TYL) Rating Increased to Hold at Zacks Investment Research
Tyler Technologies, Inc. (NYSE:TYL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
According to Zacks, “Tyler Technologies, Inc. is engaged in providing integrated information management solutions and services to the public sector. It provides software products and services; professional IT services; subscription-based services; property appraisal outsourcing services. Its products generally automate three major functional areas (1) financial management and education, (2) courts and justice and (3) property appraisal and tax. Tyler operates in two reportable segments: Enterprise Software Solutions (ESS) and Appraisal and Tax Software Solutions and Services. The Enterprise Software Solutions (ESS) segment provides software systems to municipal and county governments and schools. The Appraisal and Tax Software Solutions and Services segment provides systems and software that automate the appraisal and assessment of real and personal property as well as property appraisal outsourcing services for local governments and taxing authorities. Tyler Technologies, Inc. is headquartered in Dallas, Texas. “
A number of other brokerages have also recently issued reports on TYL. B. Riley restated a “buy” rating and set a $184.00 price objective on shares of Tyler Technologies in a report on Tuesday, May 9th. BidaskClub cut Tyler Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Maxim Group set a $197.00 price objective on Tyler Technologies and gave the stock a “buy” rating in a report on Monday, July 17th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Tyler Technologies presently has a consensus rating of “Buy” and a consensus target price of $187.17.
Tyler Technologies (NYSE:TYL) opened at 169.76 on Friday. The firm has a market capitalization of $6.33 billion, a PE ratio of 50.86 and a beta of 0.95. Tyler Technologies has a one year low of $139.61 and a one year high of $182.49. The stock has a 50 day moving average price of $172.80 and a 200-day moving average price of $163.87.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $210.67 million. During the same quarter in the prior year, the firm earned $0.86 EPS. The company’s revenue was up 10.7% on a year-over-year basis. On average, equities analysts forecast that Tyler Technologies will post $3.87 earnings per share for the current year.
In related news, CFO Brian K. Miller sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $169.43, for a total value of $2,202,590.00. Following the completion of the sale, the chief financial officer now directly owns 55,044 shares in the company, valued at $9,326,104.92. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Brian K. Miller sold 1,240 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $174.50, for a total value of $216,380.00. Following the completion of the sale, the vice president now owns 47,989 shares of the company’s stock, valued at $8,374,080.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 228,753 shares of company stock valued at $39,149,919. 10.30% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its stake in shares of Tyler Technologies by 42.2% in the first quarter. Goldman Sachs Group Inc. now owns 756,703 shares of the technology company’s stock valued at $116,957,000 after buying an additional 224,642 shares during the period. Morgan Stanley increased its position in shares of Tyler Technologies by 24.5% in the first quarter. Morgan Stanley now owns 71,848 shares of the technology company’s stock valued at $11,105,000 after buying an additional 14,119 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Tyler Technologies by 3.5% in the second quarter. Louisiana State Employees Retirement System now owns 8,800 shares of the technology company’s stock valued at $1,546,000 after buying an additional 300 shares in the last quarter. Granite Investment Partners LLC purchased a new position in shares of Tyler Technologies during the first quarter valued at approximately $2,884,000. Finally, Sei Investments Co. increased its position in shares of Tyler Technologies by 19.7% in the first quarter. Sei Investments Co. now owns 71,165 shares of the technology company’s stock valued at $10,999,000 after buying an additional 11,708 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.
Tyler Technologies Company Profile
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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