Brokerages Set Tyler Technologies, Inc. (TYL) Price Target at $194.14
Shares of Tyler Technologies, Inc. (NYSE:TYL) have been given an average recommendation of “Buy” by the nine analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $194.14.
A number of equities research analysts have recently commented on TYL shares. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Tyler Technologies in a research report on Friday, October 27th. Northland Securities reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Tyler Technologies in a research report on Thursday, September 21st. BidaskClub raised Tyler Technologies from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 23rd. Zacks Investment Research raised Tyler Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Tyler Technologies in a research report on Tuesday, October 24th.
Tyler Technologies (NYSE:TYL) traded down $1.59 during trading on Friday, reaching $170.32. The company’s stock had a trading volume of 98,500 shares, compared to its average volume of 190,938. The stock has a market capitalization of $6,420.02, a P/E ratio of 52.42 and a beta of 0.99. Tyler Technologies has a one year low of $139.61 and a one year high of $183.98.
Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 25th. The technology company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.03. The company had revenue of $214.15 million during the quarter, compared to the consensus estimate of $216.80 million. Tyler Technologies had a return on equity of 12.81% and a net margin of 16.34%. Tyler Technologies’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 earnings per share. equities research analysts forecast that Tyler Technologies will post 3.27 EPS for the current year.
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In related news, VP Brian K. Miller sold 6,000 shares of Tyler Technologies stock in a transaction on Friday, August 25th. The stock was sold at an average price of $170.38, for a total value of $1,022,280.00. Following the transaction, the vice president now owns 56,694 shares in the company, valued at $9,659,523.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian K. Miller sold 9,760 shares of Tyler Technologies stock in a transaction on Friday, September 15th. The shares were sold at an average price of $169.01, for a total value of $1,649,537.60. Following the completion of the transaction, the vice president now owns 53,194 shares in the company, valued at approximately $8,990,317.94. The disclosure for this sale can be found here. Insiders sold 237,876 shares of company stock worth $40,953,429 in the last quarter. 10.30% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Zions Bancorporation acquired a new position in Tyler Technologies in the third quarter valued at $156,000. YHB Investment Advisors Inc. acquired a new position in Tyler Technologies in the second quarter valued at $209,000. Lakeview Capital Partners LLC acquired a new position in Tyler Technologies in the second quarter valued at $211,000. CIBC Asset Management Inc acquired a new position in Tyler Technologies in the third quarter valued at $218,000. Finally, D.A. Davidson & CO. boosted its holdings in Tyler Technologies by 13.3% in the second quarter. D.A. Davidson & CO. now owns 1,391 shares of the technology company’s stock valued at $244,000 after acquiring an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.
Tyler Technologies Company Profile
Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company operates through two segments: Enterprise Software (ES) segment and The Appraisal and Tax (A&T) segment. ES segment provides municipal and county governments and schools with software systems and services for information technology and automation needs that includes back-office functions, such as financial management, courts and justice processes, public safety, planning regulatory and maintenance, and land and vital records management.
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