Shares of Tyler Technologies, Inc. (NYSE:TYL) have been given an average recommendation of “Buy” by the eleven analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $237.29.
A number of research firms recently weighed in on TYL. ValuEngine raised shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. TheStreet raised shares of Tyler Technologies from a “c+” rating to a “b-” rating in a research note on Friday, February 15th. DA Davidson lowered shares of Tyler Technologies from a “buy” rating to a “neutral” rating and set a $210.00 price objective for the company. in a research note on Friday, February 22nd. Northland Securities reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Tyler Technologies in a research note on Friday, February 22nd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Tyler Technologies in a research note on Thursday, February 21st.
In other Tyler Technologies news, Director Dustin R. Womble sold 3,676 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $206.87, for a total transaction of $760,454.12. Following the completion of the sale, the director now directly owns 181,798 shares of the company’s stock, valued at $37,608,552.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Luther King, Jr. sold 967 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $217.70, for a total transaction of $210,515.90. Following the sale, the director now directly owns 77,864 shares of the company’s stock, valued at $16,950,992.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,643 shares of company stock valued at $9,008,770. Insiders own 4.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the business. Dock Street Asset Management Inc. acquired a new position in shares of Tyler Technologies during the fourth quarter valued at about $557,000. Rhumbline Advisers increased its holdings in shares of Tyler Technologies by 32.8% during the fourth quarter. Rhumbline Advisers now owns 113,901 shares of the technology company’s stock valued at $21,165,000 after acquiring an additional 28,132 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Tyler Technologies by 28.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 211,568 shares of the technology company’s stock valued at $39,313,000 after acquiring an additional 46,379 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Tyler Technologies by 2.1% during the fourth quarter. State of Alaska Department of Revenue now owns 4,709 shares of the technology company’s stock valued at $875,000 after acquiring an additional 97 shares in the last quarter. Finally, Texas Permanent School Fund increased its holdings in shares of Tyler Technologies by 4.5% during the fourth quarter. Texas Permanent School Fund now owns 25,405 shares of the technology company’s stock valued at $4,721,000 after acquiring an additional 1,086 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.
Shares of TYL opened at $213.17 on Thursday. The firm has a market cap of $8.07 billion, a PE ratio of 57.00 and a beta of 0.95. Tyler Technologies has a 12-month low of $173.26 and a 12-month high of $252.47. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.06.
Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, May 1st. The technology company reported $0.95 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.95. The firm had revenue of $247.10 million during the quarter, compared to analyst estimates of $251.75 million. Tyler Technologies had a net margin of 14.23% and a return on equity of 11.28%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.13 earnings per share. Analysts predict that Tyler Technologies will post 4.16 EPS for the current year.
About Tyler Technologies
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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