Tyler Technologies (NYSE:TYL) Posts Earnings Results, Misses Estimates By $0.57 EPS

Tyler Technologies (NYSE:TYL) released its earnings results on Wednesday. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.57), Zacks reports. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%.

Tyler Technologies Trading Up 0.3 %

NYSE TYL traded up $1.54 on Wednesday, hitting $611.01. 395,661 shares of the stock were exchanged, compared to its average volume of 224,991. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. Tyler Technologies has a 52-week low of $397.80 and a 52-week high of $638.56. The firm has a market capitalization of $26.15 billion, a P/E ratio of 111.50, a P/E/G ratio of 4.78 and a beta of 0.78. The stock has a fifty day moving average price of $595.96 and a two-hundred day moving average price of $593.19.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the transaction, the chief financial officer now owns 12,198 shares in the company, valued at approximately $7,709,257.98. This trade represents a 17.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. This trade represents a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock valued at $18,941,368 over the last 90 days. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on TYL. Barclays upped their price target on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. JMP Securities upped their target price on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday, October 25th. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price target on shares of Tyler Technologies in a report on Tuesday, January 21st. Truist Financial reiterated a “buy” rating and issued a $685.00 price target (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Finally, StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $645.69.

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.