KeyCorp restated their buy rating on shares of Tyler Technologies, Inc. (NYSE:TYL) in a report published on Friday, October 6th. They currently have a $180.00 target price on the technology company’s stock.
TYL has been the subject of a number of other research reports. Piper Jaffray Companies restated a buy rating and issued a $200.00 price target on shares of Tyler Technologies in a report on Sunday, August 27th. Zacks Investment Research upgraded Tyler Technologies from a sell rating to a hold rating in a research note on Saturday, August 19th. Citigroup Inc. initiated coverage on Tyler Technologies in a research note on Friday, September 22nd. They set a buy rating and a $200.00 target price for the company. Maxim Group set a $197.00 target price on Tyler Technologies and gave the company a buy rating in a research note on Monday, July 17th. Finally, Northland Securities reiterated a buy rating and set a $200.00 target price on shares of Tyler Technologies in a research note on Thursday, September 21st. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $192.29.
Tyler Technologies (NYSE TYL) opened at 179.51 on Friday. The company’s 50 day moving average is $172.69 and its 200 day moving average is $169.37. Tyler Technologies has a 1-year low of $139.61 and a 1-year high of $182.49. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 53.78 and a beta of 0.93.
Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.03). The company had revenue of $209.12 million during the quarter, compared to analysts’ expectations of $210.67 million. Tyler Technologies had a return on equity of 13.02% and a net margin of 14.73%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 EPS. Equities research analysts forecast that Tyler Technologies will post $3.86 EPS for the current year.
In other news, Director Larry D. Leinweber sold 36,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $171.82, for a total transaction of $6,185,520.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Brian K. Miller sold 9,760 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $169.01, for a total value of $1,649,537.60. Following the transaction, the vice president now directly owns 53,194 shares of the company’s stock, valued at approximately $8,990,317.94. The disclosure for this sale can be found here. Insiders have sold 243,357 shares of company stock worth $41,622,109 over the last three months. Corporate insiders own 10.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Tyler Technologies by 5.7% in the 2nd quarter. Vanguard Group Inc. now owns 2,804,393 shares of the technology company’s stock valued at $492,648,000 after purchasing an additional 150,879 shares during the period. BlackRock Inc. boosted its position in shares of Tyler Technologies by 2.0% in the 2nd quarter. BlackRock Inc. now owns 2,793,116 shares of the technology company’s stock valued at $490,668,000 after purchasing an additional 55,453 shares during the period. Janus Henderson Group PLC boosted its position in shares of Tyler Technologies by 327.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,865,432 shares of the technology company’s stock valued at $327,700,000 after purchasing an additional 1,428,513 shares during the period. Janus Capital Management LLC boosted its position in shares of Tyler Technologies by 11.8% in the 1st quarter. Janus Capital Management LLC now owns 1,509,335 shares of the technology company’s stock valued at $233,283,000 after purchasing an additional 159,345 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Tyler Technologies by 40.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,027,797 shares of the technology company’s stock valued at $180,554,000 after purchasing an additional 294,817 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.
Tyler Technologies Company Profile
Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company operates through two segments: Enterprise Software (ES) segment and The Appraisal and Tax (A&T) segment. ES segment provides municipal and county governments and schools with software systems and services for information technology and automation needs that includes back-office functions, such as financial management, courts and justice processes, public safety, planning regulatory and maintenance, and land and vital records management.
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