Tyler Technologies, Inc. provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools. The company also provides a suite of judicial solutions comprising court case management, court and law enforcement, prosecutor, and supervision systems to handle multi-jurisdictional county or statewide implementations, and single county systems; public safety software solutions; systems and software to automate the appraisal and assessment of real and personal property, as well as tax applications for agencies that bill and collect taxes; planning, regulatory, and maintenance software solutions for public sector agencies; software applications to enhance and automate operations involving records and document management; and data and insights solutions. In addition, it offers software as a service arrangements and electronic document filing solutions for courts and law offices; software and hardware installation, data conversion, training, product modification, and maintenance and support services; and property appraisal outsourcing services for taxing jurisdictions. The company has a strategic collaboration agreement with Amazon Web Services for cloud hosting services. Tyler Technologies, Inc. was founded in 1966 and is headquartered in Plano, Texas.
Analysts Set New Price Targets
TYL has been the subject of several recent research reports. TheStreet downgraded Tyler Technologies from a "b-" rating to a "c+" rating in a report on Wednesday, April 27th. DA Davidson raised their target price on Tyler Technologies from $440.00 to $460.00 in a research note on Monday, August 1st. Wells Fargo & Company upgraded Tyler Technologies from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $425.00 to $435.00 in a research note on Tuesday, June 7th. Barclays lowered their target price on Tyler Technologies from $445.00 to $370.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 12th. Finally, Loop Capital began coverage on Tyler Technologies in a research note on Monday, April 18th. They set a "buy" rating and a $520.00 target price for the company. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Tyler Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $480.08.
Tyler Technologies Stock Performance
NYSE:TYL traded up $3.73 during trading hours on Friday, reaching $418.92. The company's stock had a trading volume of 201,406 shares, compared to its average volume of 220,867. The company has a current ratio of 1.15, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The business has a 50-day simple moving average of $350.08 and a 200 day simple moving average of $391.94. Tyler Technologies has a 52 week low of $300.85 and a 52 week high of $557.55. The stock has a market cap of $17.42 billion, a PE ratio of 99.51 and a beta of 0.90.
Tyler Technologies (NYSE:TYL - Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The technology company reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.05. The company had revenue of $468.70 million for the quarter, compared to analysts' expectations of $458.50 million. Tyler Technologies had a return on equity of 10.26% and a net margin of 9.84%. The business's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 earnings per share. Equities research analysts predict that Tyler Technologies will post 5.53 earnings per share for the current fiscal year.
Insider Activity
In other news, Chairman John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $363.75, for a total transaction of $2,182,500.00. Following the sale, the chairman now owns 57,638 shares of the company's stock, valued at $20,965,822.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Brian K. Miller sold 2,500 shares of the business's stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $358.97, for a total transaction of $897,425.00. Following the sale, the chief financial officer now owns 28,594 shares of the company's stock, valued at $10,264,388.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman John S. Marr, Jr. sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $363.75, for a total value of $2,182,500.00. Following the sale, the chairman now directly owns 57,638 shares in the company, valued at approximately $20,965,822.50. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.
