Equities analysts expect Tyler Technologies, Inc. (NYSE:TYL) to post $277.80 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for Tyler Technologies’ earnings, with the lowest sales estimate coming in at $272.24 million and the highest estimate coming in at $284.12 million. Tyler Technologies reported sales of $236.06 million during the same quarter last year, which indicates a positive year-over-year growth rate of 17.7%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, July 31st.
According to Zacks, analysts expect that Tyler Technologies will report full-year sales of $1.09 billion for the current year, with estimates ranging from $1.09 billion to $1.10 billion. For the next financial year, analysts forecast that the company will report sales of $1.20 billion, with estimates ranging from $1.18 billion to $1.22 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Tyler Technologies.
Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, May 1st. The technology company reported $0.95 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.95. The company had revenue of $247.10 million during the quarter, compared to analyst estimates of $251.75 million. Tyler Technologies had a net margin of 14.23% and a return on equity of 11.28%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 EPS.
TYL has been the subject of several analyst reports. Northcoast Research initiated coverage on shares of Tyler Technologies in a report on Thursday, March 28th. They issued a “buy” rating and a $250.00 target price for the company. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research upgraded SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Friday, July 5th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $233.86.
Tyler Technologies stock traded up $4.59 during midday trading on Tuesday, hitting $233.35. The stock had a trading volume of 1,974 shares, compared to its average volume of 136,552. The stock has a fifty day moving average of $221.20. The stock has a market capitalization of $8.86 billion, a P/E ratio of 62.27 and a beta of 0.92. Tyler Technologies has a 52-week low of $173.26 and a 52-week high of $252.47. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.08.
In other news, CEO H Lynn Moore, Jr. sold 6,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $216.10, for a total transaction of $1,296,600.00. Following the completion of the transaction, the chief executive officer now directly owns 68,380 shares in the company, valued at approximately $14,776,918. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Glenn A. Carter sold 325 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $221.46, for a total value of $71,974.50. The disclosure for this sale can be found here. Insiders sold a total of 59,636 shares of company stock valued at $13,101,345 over the last 90 days. 4.40% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of TYL. Norges Bank bought a new position in shares of Tyler Technologies during the 4th quarter valued at approximately $81,675,000. TimesSquare Capital Management LLC lifted its position in Tyler Technologies by 262.4% in the first quarter. TimesSquare Capital Management LLC now owns 593,503 shares of the technology company’s stock worth $121,312,000 after buying an additional 429,720 shares during the last quarter. Eagle Asset Management Inc. lifted its position in Tyler Technologies by 40.4% in the first quarter. Eagle Asset Management Inc. now owns 413,961 shares of the technology company’s stock worth $84,613,000 after buying an additional 119,166 shares during the last quarter. Wasatch Advisors Inc. lifted its position in Tyler Technologies by 26.1% in the first quarter. Wasatch Advisors Inc. now owns 540,760 shares of the technology company’s stock worth $110,531,000 after buying an additional 111,766 shares during the last quarter. Finally, Carillon Tower Advisers Inc. lifted its position in Tyler Technologies by 42.0% in the first quarter. Carillon Tower Advisers Inc. now owns 321,637 shares of the technology company’s stock worth $65,742,000 after buying an additional 95,127 shares during the last quarter. Hedge funds and other institutional investors own 88.49% 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.
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