Tyler Technologies (NYSE:TYL) Updates FY 2024 Earnings Guidance

Tyler Technologies (NYSE:TYL) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 9.250-9.450 for the period, compared to the consensus earnings per share estimate of 9.220. The company issued revenue guidance of $2.1 billion-$2.2 billion, compared to the consensus revenue estimate of $2.1 billion. Tyler Technologies also updated its FY24 guidance to $9.25-9.45 EPS.

Analyst Ratings Changes

Several brokerages have commented on TYL. BTIG Research boosted their target price on Tyler Technologies from $515.00 to $550.00 and gave the stock a buy rating in a research note on Wednesday, May 22nd. Piper Sandler reissued an overweight rating and set a $520.00 target price on shares of Tyler Technologies in a research report on Wednesday, April 24th. Robert W. Baird upped their price objective on shares of Tyler Technologies from $500.00 to $525.00 and gave the stock an outperform rating in a research report on Friday, April 26th. Wells Fargo & Company increased their target price on shares of Tyler Technologies from $550.00 to $580.00 and gave the company an overweight rating in a research report on Thursday, July 18th. Finally, Loop Capital upped their price target on shares of Tyler Technologies from $485.00 to $530.00 and gave the company a buy rating in a research note on Tuesday, May 21st. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $539.17.

Tyler Technologies Trading Up 9.4 %

Tyler Technologies stock traded up $48.54 during trading hours on Thursday, reaching $564.34. The stock had a trading volume of 622,142 shares, compared to its average volume of 221,483. The stock has a market cap of $23.96 billion, a PE ratio of 127.83, a PEG ratio of 4.94 and a beta of 0.76. Tyler Technologies has a 52 week low of $361.16 and a 52 week high of $572.80. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94. The company has a fifty day simple moving average of $495.82 and a 200-day simple moving average of $454.78.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.34 by $0.06. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. The firm had revenue of $540.98 million during the quarter, compared to analysts’ expectations of $541.01 million. During the same period last year, the company posted $1.53 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. Analysts forecast that Tyler Technologies will post 7.1 EPS for the current fiscal year.

Insider Activity at Tyler Technologies

In related news, Director Brenda A. Cline sold 5,000 shares of Tyler Technologies stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the completion of the transaction, the director now directly owns 1,358 shares of the company’s stock, valued at approximately $623,091.14. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Brian K. Miller sold 800 shares of Tyler Technologies stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $479.28, for a total transaction of $383,424.00. Following the completion of the transaction, the chief financial officer now directly owns 12,736 shares of the company’s stock, valued at approximately $6,104,110.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brenda A. Cline sold 5,000 shares of Tyler Technologies stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the transaction, the director now directly owns 1,358 shares of the company’s stock, valued at $623,091.14. The disclosure for this sale can be found here. Insiders sold a total of 26,241 shares of company stock valued at $12,495,890 in the last three months. Company insiders own 2.20% of the company’s stock.

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.