According to Zacks, “Tyler Technologies, Inc. is engaged in providing integrated information management solutions and services to the public sector. It provides software products and services; professional IT services; subscription-based services; property appraisal outsourcing services. Its products generally automate three major functional areas (1) financial management and education, (2) courts and justice and (3) property appraisal and tax. Tyler operates in two reportable segments: Enterprise Software Solutions (ESS) and Appraisal and Tax Software Solutions and Services. The Enterprise Software Solutions (ESS) segment provides software systems to municipal and county governments and schools. The Appraisal and Tax Software Solutions and Services segment provides systems and software that automate the appraisal and assessment of real and personal property as well as property appraisal outsourcing services for local governments and taxing authorities. Tyler Technologies, Inc. is headquartered in Dallas, Texas. “
TYL has been the topic of a number of other research reports. Benchmark increased their price target on shares of Tyler Technologies from $235.00 to $285.00 and gave the company a buy rating in a report on Friday, August 2nd. Northland Securities reiterated a buy rating on shares of Tyler Technologies in a report on Thursday, August 1st. Oppenheimer assumed coverage on shares of Tyler Technologies in a report on Monday, October 7th. They set an outperform rating and a $300.00 price target on the stock. ValuEngine cut shares of Tyler Technologies from a buy rating to a hold rating in a report on Wednesday, October 2nd. Finally, Needham & Company LLC reiterated a buy rating on shares of Tyler Technologies in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $271.25.
Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.35 EPS for the quarter, missing the Zacks’ consensus estimate of $1.36 by ($0.01). Tyler Technologies had a net margin of 12.63% and a return on equity of 11.51%. The firm had revenue of $275.40 million for the quarter, compared to analysts’ expectations of $281.03 million. During the same quarter in the previous year, the company earned $1.23 EPS. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tyler Technologies will post 4.15 earnings per share for the current year.
In related news, CFO Brian K. Miller sold 8,400 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $256.85, for a total transaction of $2,157,540.00. Following the transaction, the chief financial officer now owns 49,716 shares in the company, valued at $12,769,554.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Brian K. Miller sold 8,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $258.18, for a total transaction of $2,065,440.00. Following the transaction, the vice president now owns 52,216 shares in the company, valued at approximately $13,481,126.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,700 shares of company stock worth $17,714,370. 4.40% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of TYL. Van ECK Associates Corp bought a new position in Tyler Technologies during the second quarter valued at approximately $40,000. Quadrant Capital Group LLC lifted its position in Tyler Technologies by 233.3% during the third quarter. Quadrant Capital Group LLC now owns 220 shares of the technology company’s stock valued at $56,000 after purchasing an additional 154 shares during the period. Tompkins Financial Corp lifted its position in Tyler Technologies by 42.0% during the second quarter. Tompkins Financial Corp now owns 291 shares of the technology company’s stock valued at $63,000 after purchasing an additional 86 shares during the period. Cerebellum GP LLC lifted its position in Tyler Technologies by 25.0% during the third quarter. Cerebellum GP LLC now owns 250 shares of the technology company’s stock valued at $66,000 after purchasing an additional 50 shares during the period. Finally, Advisory Services Network LLC raised its position in Tyler Technologies by 42.3% in the second quarter. Advisory Services Network LLC now owns 313 shares of the technology company’s stock worth $68,000 after acquiring an additional 93 shares during the period. Institutional investors own 87.14% of the company’s stock.
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.
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