Tyler Technologies (NYSE:TYL) Updates FY 2024 Earnings Guidance

Tyler Technologies (NYSE:TYL) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 9.470-9.620 for the period, compared to the consensus earnings per share estimate of 9.370. The company issued revenue guidance of $2.1 billion-$2.1 billion, compared to the consensus revenue estimate of $2.1 billion. Tyler Technologies also updated its FY24 guidance to $9.47-9.62 EPS.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Evercore ISI raised shares of Tyler Technologies to a “hold” rating in a report on Friday, July 26th. Needham & Company LLC raised their target price on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday. The Goldman Sachs Group reissued a “buy” rating and set a $627.00 price target on shares of Tyler Technologies in a report on Friday, September 13th. Wells Fargo & Company raised their price objective on Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, BTIG Research boosted their target price on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $601.38.

Tyler Technologies Trading Down 0.6 %

Shares of TYL traded down $3.64 during mid-day trading on Wednesday, reaching $582.22. 294,338 shares of the company were exchanged, compared to its average volume of 226,356. The business has a 50 day simple moving average of $583.84 and a two-hundred day simple moving average of $524.37. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $24.72 billion, a PE ratio of 131.72, a PEG ratio of 5.44 and a beta of 0.78. Tyler Technologies has a 52 week low of $361.16 and a 52 week high of $606.93.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The company had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. During the same period in the prior year, the firm posted $1.66 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts predict that Tyler Technologies will post 7.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $567.96, for a total value of $1,135,920.00. Following the transaction, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $6,787,122. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Brian K. Miller sold 2,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $567.96, for a total transaction of $1,135,920.00. Following the transaction, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $6,787,122. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the transaction, the insider now owns 6,983 shares in the company, valued at $4,042,738.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,375 shares of company stock worth $17,049,739. Company insiders own 2.20% 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.