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 $9.25-9.45 for the period, compared to the consensus EPS estimate of $9.22. The company issued revenue guidance of $2.12-2.15 billion, compared to the consensus revenue estimate of $2.13 billion. Tyler Technologies also updated its FY 2024 guidance to 9.250-9.450 EPS.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Piper Sandler lifted their price target on Tyler Technologies from $529.00 to $625.00 and gave the company an overweight rating in a research note on Friday. Wells Fargo & Company boosted their target price on Tyler Technologies from $580.00 to $600.00 and gave the stock an overweight rating in a research report on Friday. Needham & Company LLC reiterated a buy rating and set a $600.00 target price on shares of Tyler Technologies in a research report on Thursday. Oppenheimer boosted their target price on Tyler Technologies from $550.00 to $625.00 and gave the stock an outperform rating in a research report on Friday. Finally, Truist Financial reiterated a buy rating and set a $600.00 target price (up from $560.00) on shares of Tyler Technologies in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $576.15.

Tyler Technologies Price Performance

Shares of NYSE:TYL traded up $26.50 on Friday, hitting $590.84. The company had a trading volume of 259,620 shares, compared to its average volume of 221,750. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20. Tyler Technologies has a 52-week low of $361.16 and a 52-week high of $593.50. The business has a 50 day moving average of $497.34 and a 200 day moving average of $455.55. The company has a market cap of $25.09 billion, a PE ratio of 133.28, a PEG ratio of 4.84 and a beta of 0.76.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.34 by $0.06. The firm had revenue of $540.98 million during the quarter, compared to analyst estimates of $541.01 million. Tyler Technologies had a return on equity of 9.82% and a net margin of 10.24%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.53 earnings per share. As a group, equities analysts anticipate that Tyler Technologies will post 7.1 earnings per share for the current fiscal year.

Insider Activity at Tyler Technologies

In related news, Director Daniel M. Pope sold 520 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total value of $255,413.60. Following the completion of the transaction, the director now directly owns 3,493 shares in the company, valued at $1,715,691.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tyler Technologies news, Director Daniel M. Pope sold 520 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total transaction of $255,413.60. Following the completion of the sale, the director now directly owns 3,493 shares in the company, valued at $1,715,691.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brenda A. Cline sold 5,000 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $458.83, for a total value of $2,294,150.00. Following the sale, the director now owns 1,358 shares of the company’s stock, valued at $623,091.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,241 shares of company stock worth $12,495,890. 2.20% of the stock is currently owned by 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.