Tyler Technologies (NYSE:TYL) Updates FY 2021 Earnings Guidance

Tyler Technologies (NYSE:TYL) updated its FY 2021 earnings guidance on Wednesday. The company provided earnings per share guidance of $6.700-$6.800 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.710. The company issued revenue guidance of $1.54 billion-$1.56 billion, compared to the consensus revenue estimate of $1.53 billion.

Several equities analysts recently commented on the company. Piper Sandler increased their target price on Tyler Technologies from $505.00 to $525.00 and gave the company an overweight rating in a report on Tuesday, June 8th. Robert W. Baird upped their price objective on shares of Tyler Technologies from $500.00 to $575.00 and gave the company an outperform rating in a research note on Wednesday, July 14th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Tyler Technologies from a sell rating to a strong-buy rating and set a $479.00 price objective for the company in a research note on Thursday, June 10th. Needham & Company LLC restated a buy rating and issued a $480.00 price objective on shares of Tyler Technologies in a research note on Tuesday, June 8th. Finally, BTIG Research restated a hold rating on shares of Tyler Technologies in a research note on Tuesday, June 8th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Tyler Technologies currently has an average rating of Buy and an average target price of $481.84.

TYL stock traded up $2.92 during trading on Wednesday, hitting $495.67. The company had a trading volume of 161,338 shares, compared to its average volume of 256,195. The stock has a market cap of $20.19 billion, a price-to-earnings ratio of 112.40 and a beta of 0.58. Tyler Technologies has a 1-year low of $319.58 and a 1-year high of $498.78. The company has a 50-day simple moving average of $445.92. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.24 and a current ratio of 3.24.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, April 28th. The technology company reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.48. The firm had revenue of $294.80 million for the quarter, compared to analysts’ expectations of $289.70 million. Tyler Technologies had a return on equity of 9.51% and a net margin of 16.23%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. As a group, research analysts forecast that Tyler Technologies will post 4.89 EPS for the current year.

In other Tyler Technologies news, Chairman John S. Marr, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 18th. The stock was sold at an average price of $397.09, for a total transaction of $3,970,900.00. Following the transaction, the chairman now owns 84,453 shares in the company, valued at approximately $33,535,441.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Luther King, Jr. sold 7,935 shares of the business’s stock in a transaction that occurred on Wednesday, May 12th. The stock was sold at an average price of $387.70, for a total value of $3,076,399.50. Following the transaction, the director now owns 80,767 shares in the company, valued at approximately $31,313,365.90. The disclosure for this sale can be found here. Insiders sold a total of 47,527 shares of company stock worth $19,564,271 in the last 90 days. 2.70% of the stock is currently owned by insiders.

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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Earnings History and Estimates for Tyler Technologies (NYSE:TYL)

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