Tyler Technologies, Inc. (NYSE:TYL) dropped 6.3% during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $165.14 and last traded at $169.90, with a volume of 627,254 shares traded. The stock had previously closed at $181.33.
The technology company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $209.12 million for 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 business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the company posted $0.86 EPS.
TYL has been the topic of a number of recent research reports. B. Riley reissued a “buy” rating and set a $184.00 price objective on shares of Tyler Technologies in a report on Tuesday, May 9th. BidaskClub lowered Tyler Technologies from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded Tyler Technologies from a “hold” rating to a “strong-buy” rating and set a $201.00 price objective on the stock in a research report on Thursday, June 29th. Finally, Maxim Group set a $197.00 price objective on Tyler Technologies and gave the company a “buy” rating in a research report on Monday, July 17th. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $187.17.
In other Tyler Technologies news, VP Brian K. Miller sold 1,240 shares of Tyler Technologies stock in a transaction on Monday, June 5th. The stock was sold at an average price of $174.50, for a total transaction of $216,380.00. Following the completion of the transaction, the vice president now owns 47,989 shares in the company, valued at $8,374,080.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Larry D. Leinweber sold 19,021 shares of Tyler Technologies stock in a transaction on Monday, August 7th. The shares were sold at an average price of $170.18, for a total value of $3,236,993.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 285,168 shares of company stock valued at $48,456,494. 10.30% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of TYL. Assetmark Inc. boosted its position in Tyler Technologies by 15.1% in the first quarter. Assetmark Inc. now owns 761 shares of the technology company’s stock valued at $118,000 after buying an additional 100 shares in the last quarter. New England Research & Management Inc. acquired a new position in Tyler Technologies during the first quarter valued at $201,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Tyler Technologies by 32.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,298 shares of the technology company’s stock valued at $201,000 after buying an additional 317 shares in the last quarter. YHB Investment Advisors Inc. acquired a new position in Tyler Technologies during the second quarter valued at $209,000. Finally, Lakeview Capital Partners LLC purchased a new stake in shares of Tyler Technologies during the second quarter valued at approximately $211,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.
The stock has a market capitalization of $6.25 billion, a P/E ratio of 50.18 and a beta of 0.95. The company has a 50 day moving average of $173.89 and a 200 day moving average of $162.36.
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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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