Tyler Technologies (NYSE:TYL) Releases Quarterly Earnings Results

Tyler Technologies (NYSE:TYL) issued its quarterly earnings results on Wednesday. The technology company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.18, MarketWatch Earnings reports. The company had revenue of $271.09 million for the quarter, compared to analyst estimates of $279.40 million. Tyler Technologies had a return on equity of 10.05% and a net margin of 16.96%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 earnings per share. Tyler Technologies updated its FY 2020
After-Hours guidance to 5.30-5.50 EPS and its FY20 guidance to $5.30-5.50 EPS.

Shares of TYL stock traded up $7.21 during trading hours on Friday, reaching $357.25. The company’s stock had a trading volume of 265,068 shares, compared to its average volume of 247,026. The firm’s 50 day simple moving average is $349.51 and its 200-day simple moving average is $328.38. The company has a market capitalization of $14.09 billion, a price-to-earnings ratio of 85.17, a PEG ratio of 8.54 and a beta of 0.77. Tyler Technologies has a fifty-two week low of $232.89 and a fifty-two week high of $382.92. The company has a quick ratio of 1.60, a current ratio of 1.77 and a debt-to-equity ratio of 0.01.

TYL has been the subject of several recent research reports. Oppenheimer cut Tyler Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday. BTIG Research initiated coverage on Tyler Technologies in a research report on Thursday, April 16th. They set a “neutral” rating for the company. Needham & Company LLC reaffirmed a “buy” rating on shares of Tyler Technologies in a research report on Thursday, April 30th. Northland Securities upped their price objective on Tyler Technologies from $350.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Royal Bank of Canada initiated coverage on Tyler Technologies in a research report on Thursday, June 18th. They set an “outperform” rating and a $375.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $335.92.

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 30,000 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $312.15, for a total value of $9,364,500.00. Following the sale, the chief executive officer now owns 98,085 shares of the company’s stock, valued at approximately $30,617,232.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO H Lynn Moore, Jr. sold 19,200 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $379.58, for a total value of $7,287,936.00. Following the completion of the sale, the chief executive officer now directly owns 85,111 shares in the company, valued at approximately $32,306,433.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,311 shares of company stock worth $37,929,019. Company insiders own 3.60% of the company’s stock.

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.

Further Reading: Coverage Ratio

Earnings History for Tyler Technologies (NYSE:TYL)

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