Tyler Technologies (NYSE:TYL) Issues FY24 Earnings Guidance

Tyler Technologies (NYSE:TYL) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $9.10-9.30 for the period, compared to the consensus estimate of $9.02. The company issued revenue guidance of $2.11-2.14 billion, compared to the consensus revenue estimate of $2.12 billion.

Tyler Technologies Price Performance

Tyler Technologies stock traded up $0.56 on Wednesday, reaching $419.00. The company’s stock had a trading volume of 305,830 shares, compared to its average volume of 206,242. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $17.78 billion, a price-to-earnings ratio of 107.24, a PEG ratio of 4.05 and a beta of 0.81. The business’s fifty day moving average price is $422.70 and its 200 day moving average price is $414.49. Tyler Technologies has a twelve month low of $361.16 and a twelve month high of $454.74.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. The company had revenue of $480.94 million for the quarter, compared to analyst estimates of $483.34 million. Tyler Technologies had a return on equity of 8.85% and a net margin of 8.50%. Equities analysts expect that Tyler Technologies will post 6.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $435.19, for a total value of $3,263,925.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $32,639,250. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO H Lynn Moore, Jr. sold 1,849 shares of Tyler Technologies stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $421.19, for a total transaction of $778,780.31. Following the completion of the sale, the chief executive officer now directly owns 79,502 shares of the company’s stock, valued at approximately $33,485,447.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 7,500 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $435.19, for a total value of $3,263,925.00. Following the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $32,639,250. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,608 shares of company stock valued at $21,974,819. Insiders own 1.50% of the company’s stock.

Tyler Technologies Company Profile

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.