Tyler Technologies (NYSE:TYL) Releases 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 also updated its FY 2024 guidance to 9.100-9.300 EPS.

Tyler Technologies Stock Up 7.9 %

Shares of NYSE TYL traded up $33.18 during trading on Thursday, reaching $452.18. The company had a trading volume of 288,320 shares, compared to its average volume of 208,176. Tyler Technologies has a 12-month low of $361.16 and a 12-month high of $464.81. The stock has a market cap of $19.19 billion, a PE ratio of 114.57, a P/E/G ratio of 4.12 and a beta of 0.81. The business’s 50-day moving average is $422.28 and its 200 day moving average is $414.52. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.20.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TYL. Needham & Company LLC reissued a buy rating and issued a $500.00 target price on shares of Tyler Technologies in a report on Thursday. DA Davidson increased their target price on Tyler Technologies from $412.00 to $434.00 and gave the company a neutral rating in a report on Thursday, February 22nd. JPMorgan Chase & Co. increased their target price on Tyler Technologies from $500.00 to $526.00 and gave the company an overweight rating in a report on Thursday, February 15th. Piper Sandler reissued an overweight rating and issued a $520.00 target price on shares of Tyler Technologies in a report on Wednesday. Finally, JMP Securities restated a market outperform rating and issued a $490.00 price target on shares of Tyler Technologies in a research report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tyler Technologies currently has a consensus rating of Moderate Buy and an average target price of $460.46.

Insider Buying and Selling

In other Tyler Technologies news, CFO Brian K. Miller sold 5,000 shares of Tyler Technologies stock in a transaction on Monday, February 26th. The stock was sold at an average price of $442.99, for a total transaction of $2,214,950.00. Following the completion of the sale, the chief financial officer now directly owns 14,610 shares of the company’s stock, valued at approximately $6,472,083.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Brian K. Miller sold 5,000 shares of Tyler Technologies stock in a transaction on Monday, February 26th. The stock was sold at an average price of $442.99, for a total value of $2,214,950.00. Following the transaction, the chief financial officer now directly owns 14,610 shares in the company, valued at approximately $6,472,083.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 6,500 shares of Tyler Technologies stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $437.49, for a total value of $2,843,685.00. Following the completion of the transaction, the insider now owns 6,400 shares in the company, valued at $2,799,936. The disclosure for this sale can be found here. In the last three months, insiders sold 50,608 shares of company stock valued at $21,974,819. Insiders own 2.20% 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.