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

Tyler Technologies (NYSE:TYL) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 9.470-9.620 for the period, compared to the consensus estimate of 9.370. The company issued revenue guidance of $2.1 billion-$2.1 billion, compared to the consensus revenue estimate of $2.1 billion. Tyler Technologies also updated its FY24 guidance to $9.47-9.62 EPS.

Tyler Technologies Trading Down 0.6 %

Shares of NYSE TYL traded down $3.64 during midday trading on Wednesday, hitting $582.22. 304,751 shares of the company traded hands, compared to its average volume of 226,356. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. Tyler Technologies has a 12-month low of $361.16 and a 12-month high of $606.93. The stock has a 50-day moving average price of $583.84 and a 200 day moving average price of $524.37. The firm has a market cap of $24.72 billion, a P/E ratio of 131.72, a P/E/G ratio of 5.44 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.06. The company had revenue of $540.98 million for the quarter, compared to analyst estimates of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.53 earnings per share. As a group, analysts expect that Tyler Technologies will post 7.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Needham & Company LLC lifted their price target on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays raised Tyler Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $577.00 to $700.00 in a research report on Monday, October 7th. Truist Financial reiterated a “buy” rating and set a $600.00 price objective (up previously from $560.00) on shares of Tyler Technologies in a research note on Friday, July 26th. JMP Securities raised their price target on Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a report on Monday, July 22nd. Finally, BTIG Research raised their price objective on shares of Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $601.38.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total value of $2,894,700.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,042,738.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $43,236,750. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John S. Marr, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at $4,042,738.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,375 shares of company stock worth $17,049,739 in the last three months. 2.20% of the stock is currently owned by company insiders.

Tyler Technologies Company Profile

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.