Tyler Technologies (NYSE:TYL) Issues Earnings Results

Key Points

• Tyler Technologies reported quarterly EPS of $2.28, missing the $3.05 consensus estimate by $0.77. The company posted a 13.26% net margin and 10.74% return on equity.
• Shares rose $1.01 to $334.37 in Wednesday trading, while the stock remains well below its 12-month high of $621.34. Tyler has a $14.1 billion market capitalization and trades at a P/E ratio of 46.18.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $464.59, although JPMorgan recently reduced its target to $525. Institutional investors own approximately 93.3% of the company.

Tyler Technologies (NYSE:TYL - Get Free Report) announced its quarterly earnings data on Wednesday. The technology company reported $2.28 EPS for the quarter, missing the consensus estimate of $3.05 by ($0.77), Zacks reports. Tyler Technologies had a net margin of 13.26% and a return on equity of 10.74%.

Tyler Technologies Stock Performance

NYSE TYL traded up $1.01 during trading on Wednesday, reaching $334.37. The company's stock had a trading volume of 1,403,495 shares, compared to its average volume of 711,528. The business's fifty day moving average price is $304.01 and its 200-day moving average price is $336.41. Tyler Technologies has a twelve month low of $270.71 and a twelve month high of $621.34. The firm has a market cap of $14.10 billion, a price-to-earnings ratio of 46.18, a P/E/G ratio of 2.10 and a beta of 0.82.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TYL. JPMorgan Chase & Co. cut their price objective on Tyler Technologies from $650.00 to $525.00 and set an "overweight" rating on the stock in a report on Tuesday, June 23rd. Citizens Jmp reiterated a "market outperform" rating and set a $500.00 price objective on shares of Tyler Technologies in a research note on Tuesday, April 28th. Barclays upped their target price on Tyler Technologies from $420.00 to $425.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 10th. Robert W. Baird set a $455.00 price target on shares of Tyler Technologies in a research note on Friday, May 1st. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Tyler Technologies in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Tyler Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $464.59.

Institutional Trading of Tyler Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp grew its position in shares of Tyler Technologies by 1.8% in the third quarter. State Street Corp now owns 1,947,850 shares of the technology company's stock valued at $1,019,037,000 after purchasing an additional 34,178 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Tyler Technologies by 4.8% in the 4th quarter. Invesco Ltd. now owns 638,129 shares of the technology company's stock valued at $289,679,000 after purchasing an additional 29,248 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Tyler Technologies by 72.5% during the 3rd quarter. Wellington Management Group LLP now owns 600,776 shares of the technology company's stock valued at $314,302,000 after buying an additional 252,488 shares during the period. Northern Trust Corp increased its holdings in shares of Tyler Technologies by 0.4% during the 3rd quarter. Northern Trust Corp now owns 498,432 shares of the technology company's stock worth $260,760,000 after buying an additional 1,957 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Tyler Technologies by 6.8% during the 3rd quarter. Bank of America Corp DE now owns 373,610 shares of the technology company's stock worth $195,458,000 after buying an additional 23,862 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler's product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.

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