$241.83 Million in Sales Expected for Tyler Technologies, Inc. (TYL) This Quarter
Equities analysts forecast that Tyler Technologies, Inc. (NYSE:TYL) will report sales of $241.83 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Tyler Technologies’ earnings, with the lowest sales estimate coming in at $239.60 million and the highest estimate coming in at $246.15 million. Tyler Technologies posted sales of $214.15 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12.9%. The firm is expected to issue its next earnings results on Wednesday, October 24th.
On average, analysts expect that Tyler Technologies will report full year sales of $948.34 million for the current year, with estimates ranging from $941.87 million to $954.50 million. For the next fiscal year, analysts anticipate that the business will report sales of $1.06 billion per share, with estimates ranging from $1.04 billion to $1.10 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Tyler Technologies.
Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Thursday, July 26th. The technology company reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.05. The firm had revenue of $236.10 million for the quarter, compared to the consensus estimate of $233.28 million. Tyler Technologies had a return on equity of 11.70% and a net margin of 19.91%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS.
In related news, insider John S. Marr, Jr. sold 30,460 shares of the company’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $244.50, for a total value of $7,447,470.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Glenn A. Carter sold 1,225 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $242.40, for a total value of $296,940.00. Following the completion of the transaction, the director now owns 1,725 shares of the company’s stock, valued at $418,140. The disclosure for this sale can be found here. Insiders sold 138,397 shares of company stock valued at $33,361,594 over the last three months. 4.70% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in TYL. Ostrum Asset Management acquired a new position in Tyler Technologies during the first quarter worth $127,000. TLP Group LLC increased its stake in shares of Tyler Technologies by 941.9% in the first quarter. TLP Group LLC now owns 969 shares of the technology company’s stock valued at $204,000 after buying an additional 876 shares in the last quarter. ETRADE Capital Management LLC acquired a new stake in shares of Tyler Technologies in the first quarter valued at $205,000. Alps Advisors Inc. acquired a new stake in shares of Tyler Technologies in the second quarter valued at $209,000. Finally, Welch & Forbes LLC acquired a new stake in shares of Tyler Technologies in the second quarter valued at $222,000. Hedge funds and other institutional investors own 92.22% of the company’s stock.
Tyler Technologies stock traded up $2.04 during trading hours on Friday, reaching $242.21. 6,464 shares of the company were exchanged, compared to its average volume of 139,002. The stock has a market capitalization of $9.63 billion, a P/E ratio of 75.66, a PEG ratio of 6.57 and a beta of 0.88. Tyler Technologies has a 12 month low of $168.12 and a 12 month high of $252.47.
About Tyler Technologies
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. It operates through two segments, Enterprise Software, and Appraisal and Tax. The company's financial management solutions include modular fund accounting systems for government agencies or not-for-profit entities; and utility billing systems for the billing and collection of metered and non-metered services.
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