Citigroup Inc. Begins Coverage on Tyler Technologies, Inc. (TYL)
Stock analysts at Citigroup Inc. initiated coverage on shares of Tyler Technologies, Inc. (NYSE:TYL) in a research report issued on Friday, The Fly reports. The firm set a “buy” rating on the technology company’s stock.
Other analysts have also issued research reports about the company. B. Riley restated a “buy” rating and set a $184.00 target price on shares of Tyler Technologies in a report on Friday, July 28th. Northland Securities reiterated a “buy” rating and set a $200.00 price objective on shares of Tyler Technologies in a report on Thursday. BidaskClub lowered Tyler Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research lowered Tyler Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Maxim Group set a $197.00 price objective on Tyler Technologies and gave the company a “buy” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $194.50.
Shares of Tyler Technologies (NYSE TYL) opened at 170.61 on Friday. The firm has a 50 day moving average price of $170.29 and a 200-day moving average price of $166.78. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 51.11 and a beta of 0.95. Tyler Technologies has a 12-month low of $139.61 and a 12-month high of $182.49.
Tyler Technologies (NYSE:TYL) last posted its 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). The company had revenue of $209.12 million for the quarter, compared to analysts’ expectations of $210.67 million. Tyler Technologies had a return on equity of 13.02% and a net margin of 14.73%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. On average, equities analysts expect that Tyler Technologies will post $3.87 earnings per share for the current fiscal year.
In related news, VP Brian K. Miller sold 1,848 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $172.58, for a total value of $318,927.84. Following the transaction, the vice president now directly owns 52,657 shares of the company’s stock, valued at approximately $9,087,545.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Larry D. Leinweber sold 36,000 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $170.98, for a total value of $6,155,280.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 279,357 shares of company stock valued at $47,777,389. Company insiders own 10.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. YHB Investment Advisors Inc. acquired a new position in shares of Tyler Technologies in the 2nd quarter valued at $209,000. Lakeview Capital Partners LLC acquired a new position in shares of Tyler Technologies in the 2nd quarter valued at $211,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tyler Technologies by 32.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,298 shares of the technology company’s stock valued at $201,000 after acquiring an additional 317 shares during the period. D.A. Davidson & CO. increased its position in shares of Tyler Technologies by 13.3% in the 2nd quarter. D.A. Davidson & CO. now owns 1,391 shares of the technology company’s stock valued at $244,000 after acquiring an additional 163 shares during the period. Finally, Fiduciary Trust Co. acquired a new position in shares of Tyler Technologies in the 2nd quarter valued at $250,000. 90.51% 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 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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