Tyler Technologies, Inc. (TYL) Receives Consensus Recommendation of “Buy” from Analysts
Tyler Technologies, Inc. (NYSE:TYL) has earned an average rating of “Buy” from the ten brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $192.29.
A number of analysts recently commented on the stock. Maxim Group set a $197.00 price objective on shares of Tyler Technologies and gave the stock a “buy” rating in a report on Thursday, July 27th. KeyCorp reissued a “buy” rating and set a $180.00 price objective on shares of Tyler Technologies in a report on Friday, October 6th. Zacks Investment Research downgraded shares of Tyler Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 13th. BidaskClub downgraded shares of Tyler Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Citigroup Inc. assumed coverage on shares of Tyler Technologies in a report on Friday, September 22nd. They set a “buy” rating and a $200.00 price objective on the stock.
In other news, Director Donald R. Brattain sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $167.75, for a total value of $419,375.00. Following the completion of the transaction, the director now owns 15,220 shares of the company’s stock, valued at $2,553,155. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Brian K. Miller sold 9,760 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $169.01, for a total transaction of $1,649,537.60. Following the completion of the transaction, the vice president now directly owns 53,194 shares of the company’s stock, valued at approximately $8,990,317.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 243,357 shares of company stock valued at $41,622,109. 10.30% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. YHB Investment Advisors Inc. acquired a new position in shares of Tyler Technologies in the second quarter valued at approximately $209,000. Lakeview Capital Partners LLC acquired a new position in shares of Tyler Technologies in the second quarter valued at approximately $211,000. D.A. Davidson & CO. raised its position in shares of Tyler Technologies by 13.3% in the second quarter. D.A. Davidson & CO. now owns 1,391 shares of the technology company’s stock valued at $244,000 after buying an additional 163 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Tyler Technologies by 8.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,412 shares of the technology company’s stock valued at $248,000 after buying an additional 114 shares during the last quarter. Finally, Fiduciary Trust Co. acquired a new position in shares of Tyler Technologies in the second quarter valued at approximately $250,000. 90.49% of the stock is owned by institutional investors and hedge funds.
Tyler Technologies (NYSE:TYL) opened at 175.62 on Wednesday. Tyler Technologies has a 12 month low of $139.61 and a 12 month high of $182.49. The firm has a market cap of $6.55 billion, a P/E ratio of 52.61 and a beta of 0.93. The firm has a 50 day moving average of $172.69 and a 200-day moving average of $169.37.
Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, July 26th. The technology company reported $0.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.03). The firm had revenue of $209.12 million during the quarter, compared to analysts’ expectations of $210.67 million. Tyler Technologies had a net margin of 14.73% and a return on equity of 13.02%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. On average, equities research analysts forecast that Tyler Technologies will post $3.86 earnings per share for the current year.
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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