Tyler Technologies (TYL) Announces Quarterly Earnings Results, Meets Expectations

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Tyler Technologies (NYSE:TYL) announced its quarterly earnings results on Wednesday. The technology company reported $1.23 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.23, Briefing.com reports. Tyler Technologies had a net margin of 19.91% and a return on equity of 11.70%. The firm had revenue of $236.10 million for the quarter, compared to analyst estimates of $240.98 million. During the same period last year, the business earned $1.05 EPS. Tyler Technologies’s revenue for the quarter was up 10.0% compared to the same quarter last year. Tyler Technologies updated its FY18 guidance to $4.76-4.84 EPS.

NYSE TYL traded down $16.66 during trading on Thursday, reaching $195.00. The company’s stock had a trading volume of 734,660 shares, compared to its average volume of 201,958. The firm has a market cap of $8.05 billion, a PE ratio of 61.32, a P/E/G ratio of 5.49 and a beta of 0.82. Tyler Technologies has a twelve month low of $168.12 and a twelve month high of $252.47.

TYL has been the topic of several research analyst reports. B. Riley lifted their price target on shares of Tyler Technologies from $200.00 to $206.00 and gave the stock a “neutral” rating in a research note on Monday, July 30th. Robert W. Baird reiterated a “buy” rating and set a $260.00 price target (up from $240.00) on shares of Tyler Technologies in a research note on Friday, July 27th. JMP Securities cut their price target on shares of Tyler Technologies from $250.00 to $245.00 and set a “market outperform” rating on the stock in a research note on Thursday. Finally, Zacks Investment Research upgraded shares of Tyler Technologies from a “hold” rating to a “buy” rating and set a $267.00 price target on the stock in a research note on Tuesday, July 24th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Tyler Technologies has a consensus rating of “Buy” and a consensus target price of $234.27.

In other Tyler Technologies news, Director Brenda A. Cline sold 4,000 shares of Tyler Technologies stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $250.39, for a total value of $1,001,560.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at $1,251,950. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Brian K. Miller sold 10,000 shares of Tyler Technologies stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $233.87, for a total transaction of $2,338,700.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,397 shares of company stock worth $32,234,944. 4.70% of the stock is currently owned by company insiders.

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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Earnings History for Tyler Technologies (NYSE:TYL)

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