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

Tyler Technologies (NYSE:TYL) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 9.100-9.300 for the period, compared to the consensus earnings per share estimate of 9.020. 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 $9.10-9.30 EPS.

Analyst Upgrades and Downgrades

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

Tyler Technologies Trading Up 9.3 %

TYL stock traded up $38.77 during midday trading on Thursday, reaching $457.77. The stock had a trading volume of 398,764 shares, compared to its average volume of 209,053. The firm has a market cap of $19.43 billion, a price-to-earnings ratio of 114.57, a PEG ratio of 4.12 and a beta of 0.81. Tyler Technologies has a twelve month low of $361.16 and a twelve month high of $464.81. The business has a fifty day simple moving average of $422.28 and a two-hundred day simple moving average of $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 posted its earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.06. Tyler Technologies had a return on equity of 8.85% and a net margin of 8.50%. The company had revenue of $480.94 million during the quarter, compared to analyst estimates of $483.34 million. As a group, research analysts expect that Tyler Technologies will post 6.77 EPS for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $427.82, for a total transaction of $2,780,830.00. Following the sale, the insider now owns 6,400 shares in the company, valued at approximately $2,738,048. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $427.82, for a total transaction of $2,780,830.00. Following the sale, the insider now owns 6,400 shares in the company, valued at approximately $2,738,048. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO H Lynn Moore, Jr. sold 1,849 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $421.19, for a total value of $778,780.31. Following the transaction, the chief executive officer now directly owns 79,502 shares in the company, valued at $33,485,447.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,608 shares of company stock worth $21,974,819. Corporate 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.