Tyler Technologies (NYSE:TYL) Issues FY24 Earnings Guidance

Tyler Technologies (NYSE:TYL) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $9.10-9.30 for the period, compared to the consensus EPS estimate of $9.02. The company issued revenue guidance of $2.11-2.14 billion, compared to the consensus revenue estimate of $2.12 billion. Tyler Technologies also updated its FY 2024 guidance to 9.100-9.300 EPS.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TYL. DA Davidson boosted their price target on shares of Tyler Technologies from $412.00 to $434.00 and gave the stock a neutral rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. upped their price objective on shares of Tyler Technologies from $500.00 to $526.00 and gave the company an overweight rating in a research note on Thursday, February 15th. Piper Sandler reaffirmed an overweight rating and set a $520.00 price objective on shares of Tyler Technologies in a research note on Wednesday. Oppenheimer upped their price objective on shares of Tyler Technologies from $480.00 to $500.00 and gave the company an outperform rating in a research note on Friday. Finally, JMP Securities reaffirmed a market outperform rating and set a $490.00 price objective on shares of Tyler Technologies in a research note on Friday. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $465.85.

Tyler Technologies Trading Up 1.3 %

Shares of NYSE TYL traded up $5.90 during midday trading on Friday, hitting $463.97. 118,824 shares of the company traded hands, compared to its average volume of 209,575. Tyler Technologies has a 12-month low of $361.16 and a 12-month high of $465.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50-day moving average price of $422.62 and a 200 day moving average price of $414.83. The firm has a market cap of $19.69 billion, a P/E ratio of 105.12, a P/E/G ratio of 4.12 and a beta of 0.81.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. The business had revenue of $480.94 million for the quarter, compared to analysts’ expectations of $483.34 million. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.49%. As a group, analysts expect that Tyler Technologies will post 6.77 earnings per share for the current year.

Insiders Place Their Bets

In other Tyler Technologies news, Director Glenn A. Carter sold 1,650 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $437.84, for a total value of $722,436.00. Following the sale, the director now owns 2,011 shares in the company, valued at $880,496.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Glenn A. Carter sold 1,650 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $437.84, for a total transaction of $722,436.00. Following the sale, the director now owns 2,011 shares in the company, valued at $880,496.24. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John S. Marr, Jr. sold 6,500 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $437.49, for a total transaction of $2,843,685.00. Following the sale, the insider now owns 6,400 shares in the company, valued at approximately $2,799,936. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,608 shares of company stock worth $21,974,819. 2.20% 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. 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.