Needham & Company LLC Reaffirms Buy Rating for Tyler Technologies, Inc. (TYL)
Tyler Technologies, Inc. (NYSE:TYL)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report released on Tuesday.
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Tyler Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 13th. Maxim Group set a $197.00 price objective on shares of Tyler Technologies and gave the company a “buy” rating in a report on Monday, July 17th. Piper Jaffray Companies reissued a “buy” rating and set a $200.00 price objective on shares of Tyler Technologies in a report on Sunday, August 27th. 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 target price for the company. Finally, BidaskClub cut shares of Tyler Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $192.29.
Tyler Technologies (TYL) traded down 0.33% on Tuesday, hitting $177.20. 110,045 shares of the stock were exchanged. Tyler Technologies has a 12 month low of $139.61 and a 12 month high of $182.49. The company has a 50-day moving average of $173.76 and a 200-day moving average of $170.40. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 53.09 and a beta of 0.93.
Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.03). Tyler Technologies had a net margin of 14.73% and a return on equity of 13.02%. The company had revenue of $209.12 million for the quarter, compared to analysts’ expectations of $210.67 million. During the same period in the previous year, the firm earned $0.86 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts predict that Tyler Technologies will post $3.86 EPS for the current year.
In other Tyler Technologies news, Director Larry D. Leinweber sold 36,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $171.82, for a total transaction of $6,185,520.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian K. Miller sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $172.89, for a total transaction of $778,005.00. Following the sale, the vice president now directly owns 55,194 shares of the company’s stock, valued at $9,542,490.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 243,357 shares of company stock valued at $41,622,109. 10.30% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the business. First Trust Advisors LP boosted its position in shares of Tyler Technologies by 836.3% in the third quarter. First Trust Advisors LP now owns 41,384 shares of the technology company’s stock worth $7,214,000 after purchasing an additional 36,964 shares during the period. Nationwide Fund Advisors boosted its position in shares of Tyler Technologies by 1.0% in the third quarter. Nationwide Fund Advisors now owns 370,470 shares of the technology company’s stock worth $64,580,000 after purchasing an additional 3,589 shares during the period. Personal Capital Advisors Corp boosted its position in shares of Tyler Technologies by 4.9% in the third quarter. Personal Capital Advisors Corp now owns 108,971 shares of the technology company’s stock worth $18,996,000 after purchasing an additional 5,119 shares during the period. Mutual of America Capital Management LLC boosted its position in shares of Tyler Technologies by 2.6% in the third quarter. Mutual of America Capital Management LLC now owns 28,257 shares of the technology company’s stock worth $4,926,000 after purchasing an additional 723 shares during the period. Finally, Wasatch Advisors Inc. boosted its position in shares of Tyler Technologies by 6.2% in the second quarter. Wasatch Advisors Inc. now owns 424,479 shares of the technology company’s stock worth $74,568,000 after purchasing an additional 24,774 shares during the period. Institutional investors and hedge funds own 90.48% 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.
Receive News & Ratings for Tyler Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyler Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.