Tyler Technologies (TYL) to Release Quarterly Earnings on Wednesday

Tyler Technologies (NYSE:TYL) is scheduled to be announcing its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $2.03 per share for the quarter. Tyler Technologies has set its FY24 guidance at $8.90 to $9.10 EPS and its FY 2024 guidance at 8.900-9.100 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, February 14th. The technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.33 by $0.06. Tyler Technologies had a return on equity of 8.85% and a net margin of 8.50%. The company had revenue of $480.94 million during the quarter, compared to the consensus estimate of $483.34 million. On average, analysts expect Tyler Technologies to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $403.35 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. Tyler Technologies has a 12 month low of $361.16 and a 12 month high of $454.74. The stock has a 50 day moving average of $423.44 and a 200-day moving average of $414.07. The company has a market capitalization of $17.12 billion, a P/E ratio of 103.69, a P/E/G ratio of 3.97 and a beta of 0.81.

Analysts Set New Price Targets

TYL has been the subject of several research analyst reports. DA Davidson lifted their target price on Tyler Technologies from $412.00 to $434.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Piper Sandler lifted their price target on Tyler Technologies from $480.00 to $520.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. JPMorgan Chase & Co. lifted their price target on Tyler Technologies from $500.00 to $526.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. JMP Securities reissued a “market outperform” rating and set a $490.00 price target on shares of Tyler Technologies in a report on Friday, February 16th. Finally, Needham & Company LLC lifted their price target on Tyler Technologies from $475.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $460.46.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 10,000 shares of Tyler Technologies stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $435.98, for a total value of $4,359,800.00. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $32,698,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO H Lynn Moore, Jr. sold 10,000 shares of Tyler Technologies stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $435.98, for a total value of $4,359,800.00. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $32,698,500. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO H Lynn Moore, Jr. sold 7,500 shares of Tyler Technologies stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $435.19, for a total value of $3,263,925.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $32,639,250. The disclosure for this sale can be found here. Insiders sold 50,608 shares of company stock valued at $21,974,819 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Several hedge funds and other institutional investors have recently modified their holdings of TYL. Norges Bank bought a new position in shares of Tyler Technologies in the 4th quarter valued at $164,642,000. Alliancebernstein L.P. increased its stake in shares of Tyler Technologies by 26.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,719,257 shares of the technology company’s stock valued at $554,306,000 after purchasing an additional 357,779 shares during the last quarter. Select Equity Group L.P. grew its position in Tyler Technologies by 101.0% during the 1st quarter. Select Equity Group L.P. now owns 327,305 shares of the technology company’s stock worth $116,075,000 after acquiring an additional 164,478 shares during the last quarter. JPMorgan Chase & Co. grew its position in Tyler Technologies by 122.1% during the 1st quarter. JPMorgan Chase & Co. now owns 213,701 shares of the technology company’s stock worth $75,788,000 after acquiring an additional 117,500 shares during the last quarter. Finally, Macquarie Group Ltd. grew its position in Tyler Technologies by 23.4% during the 1st quarter. Macquarie Group Ltd. now owns 561,508 shares of the technology company’s stock worth $199,134,000 after acquiring an additional 106,570 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.