Wall Street brokerages expect Tyler Technologies, Inc. (NYSE:TYL) to post sales of $276.83 million for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Tyler Technologies’ earnings. The lowest sales estimate is $271.02 million and the highest is $284.12 million. Tyler Technologies posted sales of $236.06 million in the same quarter last year, which would indicate a positive year over year growth rate of 17.3%. The firm is expected to announce its next quarterly earnings results on Thursday, July 25th.
On average, analysts expect that Tyler Technologies will report full year sales of $1.09 billion for the current financial year, with estimates ranging from $1.09 billion to $1.10 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.20 billion, with estimates ranging from $1.18 billion to $1.22 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Tyler Technologies.
Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, May 1st. The technology company reported $0.95 EPS for the quarter, hitting the consensus estimate of $0.95. Tyler Technologies had a net margin of 14.23% and a return on equity of 11.28%. The company had revenue of $247.10 million for the quarter, compared to the consensus estimate of $251.75 million. During the same period in the previous year, the firm earned $1.13 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis.
Several research analysts recently commented on TYL shares. TheStreet raised shares of Tyler Technologies from a “c+” rating to a “b-” rating in a research note on Friday, February 15th. Northland Securities reaffirmed a “buy” rating and issued a $240.00 target price on shares of Tyler Technologies in a research note on Friday, March 22nd. ValuEngine raised shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Northcoast Research started coverage on shares of Tyler Technologies in a research note on Thursday, March 28th. They issued a “buy” rating and a $250.00 target price on the stock. Finally, KeyCorp reaffirmed a “hold” rating on shares of Tyler Technologies in a research note on Monday, March 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $237.13.
In other Tyler Technologies news, Director Luther King, Jr. sold 967 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $217.70, for a total transaction of $210,515.90. Following the transaction, the director now directly owns 77,864 shares of the company’s stock, valued at approximately $16,950,992.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman John S. Marr, Jr. sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $201.26, for a total transaction of $2,012,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,643 shares of company stock worth $9,008,770. Insiders own 4.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. increased its position in Tyler Technologies by 51.4% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 689 shares of the technology company’s stock valued at $140,000 after purchasing an additional 234 shares during the period. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Tyler Technologies by 59.3% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 3,502 shares of the technology company’s stock valued at $716,000 after buying an additional 1,304 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Tyler Technologies by 27.8% during the 1st quarter. Morgan Stanley now owns 41,421 shares of the technology company’s stock valued at $8,465,000 after buying an additional 9,019 shares in the last quarter. Praesidium Investment Management Company LLC boosted its holdings in shares of Tyler Technologies by 2.1% during the 1st quarter. Praesidium Investment Management Company LLC now owns 603,931 shares of the technology company’s stock valued at $123,443,000 after buying an additional 12,672 shares in the last quarter. Finally, Man Group plc boosted its holdings in shares of Tyler Technologies by 572.1% during the 1st quarter. Man Group plc now owns 11,163 shares of the technology company’s stock valued at $2,282,000 after buying an additional 9,502 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE TYL opened at $213.17 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.06. Tyler Technologies has a 52 week low of $173.26 and a 52 week high of $252.47. The firm has a market capitalization of $8.07 billion, a P/E ratio of 57.00 and a beta of 0.95.
Tyler Technologies Company Profile
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.
Featured Article: Why is the price-sales ratio important?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tyler Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyler Technologies and related companies with MarketBeat.com's FREE daily email newsletter.