Tyler Technologies, Inc. (TYL) Expected to Post Quarterly Sales of $220.95 Million

Equities research analysts expect Tyler Technologies, Inc. (NYSE:TYL) to announce sales of $220.95 million for the current quarter, Zacks reports. Three analysts have provided estimates for Tyler Technologies’ earnings, with the lowest sales estimate coming in at $219.91 million and the highest estimate coming in at $221.52 million. Tyler Technologies reported sales of $193.28 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.3%. The firm is scheduled to announce its next earnings results after the market closes on Wednesday, February 21st.

According to Zacks, analysts expect that Tyler Technologies will report full year sales of $220.95 million for the current fiscal year, with estimates ranging from $843.59 million to $845.21 million. For the next financial year, analysts anticipate that the business will report sales of $936.47 million per share, with estimates ranging from $931.61 million to $944.67 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Tyler Technologies.

Several research firms recently issued reports on TYL. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $220.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 16th. B. Riley reaffirmed a “neutral” rating and set a $184.00 price target on shares of Tyler Technologies in a research note on Thursday, October 26th. Zacks Investment Research raised shares of Tyler Technologies from a “hold” rating to a “buy” rating and set a $198.00 price target on the stock in a research note on Wednesday, November 1st. Maxim Group set a $197.00 price target on shares of Tyler Technologies and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Tyler Technologies in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $195.50.

In other news, Director Larry D. Leinweber sold 4,371 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $184.42, for a total value of $806,099.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President H Lynn Moore, Jr. sold 6,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $179.57, for a total transaction of $1,077,420.00. Following the completion of the sale, the president now directly owns 61,278 shares of the company’s stock, valued at approximately $11,003,690.46. The disclosure for this sale can be found here. Insiders sold a total of 284,707 shares of company stock valued at $51,517,784 in the last three months. Insiders own 10.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zions Bancorporation bought a new stake in shares of Tyler Technologies in the 3rd quarter worth about $156,000. CIBC Asset Management Inc acquired a new position in shares of Tyler Technologies in the 3rd quarter valued at about $218,000. Bell Bank acquired a new position in shares of Tyler Technologies in the 3rd quarter valued at about $254,000. Gofen & Glossberg LLC IL acquired a new position in shares of Tyler Technologies in the 2nd quarter valued at about $256,000. Finally, Advisor Group Inc. boosted its holdings in shares of Tyler Technologies by 27.5% in the 2nd quarter. Advisor Group Inc. now owns 1,517 shares of the technology company’s stock valued at $267,000 after buying an additional 327 shares during the period. 91.70% of the stock is owned by institutional investors.

Shares of Tyler Technologies (NYSE TYL) opened at $196.53 on Friday. Tyler Technologies has a one year low of $143.38 and a one year high of $204.62. The stock has a market cap of $7,383.24, a price-to-earnings ratio of 57.63 and a beta of 1.00.

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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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