Tyler Technologies (NYSE:TYL) Updates FY 2022 Earnings Guidance – MarketBeat
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Tyler Technologies (NYSE:TYL – Get Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $7.36-$7.52 for the period, compared to the consensus estimate of $7.57. The company issued revenue guidance of $1.83 billion-$1.87 billion, compared to the consensus revenue estimate of $1.86 billion.
Analyst Ratings Changes
TYL has been the subject of a number of recent research reports. Loop Capital initiated coverage on Tyler Technologies in a research report on Monday, April 18th. They set a buy rating and a $520.00 price objective for the company. TheStreet lowered Tyler Technologies from a b- rating to a c+ rating in a report on Wednesday, April 27th. Piper Sandler upped their target price on Tyler Technologies from $405.00 to $468.00 and gave the company an overweight rating in a report on Friday, July 29th. Truist Financial dropped their price target on Tyler Technologies from $550.00 to $500.00 and set a buy rating on the stock in a research report on Tuesday, July 5th. Finally, Barclays dropped their target price on Tyler Technologies from $445.00 to $370.00 and set an equal weight rating on the stock in a research report on Tuesday, July 12th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Tyler Technologies currently has an average rating of Moderate Buy and a consensus price target of $480.08.
Tyler Technologies Stock Performance
TYL stock traded down $1.02 during midday trading on Thursday, reaching $410.72. 1,168 shares of the company’s stock traded hands, compared to its average volume of 224,608. The firm has a market capitalization of $17.08 billion, a PE ratio of 97.80 and a beta of 0.90. Tyler Technologies has a 52 week low of $300.85 and a 52 week high of $557.55. The company has a 50-day moving average price of $347.67 and a two-hundred day moving average price of $393.24. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.15.
Tyler Technologies (NYSE:TYL – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The technology company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.05. The firm had revenue of $468.70 million for the quarter, compared to analysts’ expectations of $458.50 million. Tyler Technologies had a net margin of 9.84% and a return on equity of 10.26%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.42 earnings per share. As a group, equities analysts anticipate that Tyler Technologies will post 5.53 EPS for the current year.
Insider Buying and Selling at Tyler Technologies
In related news, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $358.97, for a total value of $897,425.00. Following the sale, the chief financial officer now owns 28,594 shares in the company, valued at $10,264,388.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $363.75, for a total transaction of $2,182,500.00. Following the transaction, the chairman now owns 57,638 shares in the company, valued at approximately $20,965,822.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction on Friday, May 13th. The shares were sold at an average price of $358.97, for a total transaction of $897,425.00. Following the sale, the chief financial officer now owns 28,594 shares in the company, valued at $10,264,388.18. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Institutional Trading of Tyler Technologies
A number of institutional investors and hedge funds have recently bought and sold shares of TYL. Invesco Ltd. raised its holdings in shares of Tyler Technologies by 15.3% in the 1st quarter. Invesco Ltd. now owns 762,769 shares of the technology company’s stock valued at $339,347,000 after purchasing an additional 101,365 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Tyler Technologies by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,603,034 shares of the technology company’s stock valued at $2,047,844,000 after purchasing an additional 66,211 shares in the last quarter. First Trust Advisors LP raised its position in shares of Tyler Technologies by 210.8% in the first quarter. First Trust Advisors LP now owns 47,989 shares of the technology company’s stock valued at $21,350,000 after buying an additional 32,547 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Tyler Technologies by 45.0% during the first quarter. Goldman Sachs Group Inc. now owns 78,253 shares of the technology company’s stock worth $34,814,000 after purchasing an additional 24,296 shares during the last quarter. Finally, Woodline Partners LP acquired a new stake in Tyler Technologies during the first quarter worth about $10,598,000. 90.14% of the stock is currently owned by institutional investors.
About Tyler Technologies
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Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. 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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