Zacks: Brokerages Anticipate Tyler Technologies, Inc. (TYL) Will Post Quarterly Sales of $248.10 Million

Wall Street analysts expect that Tyler Technologies, Inc. (NYSE:TYL) will post $248.10 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Tyler Technologies’ earnings, with estimates ranging from $239.26 million to $252.71 million. Tyler Technologies reported sales of $221.17 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.2%. The business is scheduled to issue its next earnings results on Wednesday, May 1st.

On average, analysts expect that Tyler Technologies will report full-year sales of $1.04 billion for the current year, with estimates ranging from $1.02 billion to $1.05 billion. For the next financial year, analysts expect that the business will post sales of $1.16 billion, with estimates ranging from $1.14 billion to $1.17 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Tyler Technologies.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 20th. The technology company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.29. Tyler Technologies had a return on equity of 11.19% and a net margin of 19.47%. The business had revenue of $242.00 million for the quarter, compared to the consensus estimate of $244.65 million. During the same period last year, the business posted $1.07 EPS. The business’s revenue was up 11.2% compared to the same quarter last year.

TYL has been the topic of a number of analyst reports. Zacks Investment Research upgraded Tyler Technologies from a “hold” rating to a “buy” rating and set a $236.00 price target on the stock in a report on Saturday, October 27th. JMP Securities cut their price target on Tyler Technologies from $250.00 to $245.00 and set a “market outperform” rating on the stock in a report on Thursday, November 1st. KeyCorp reiterated a “hold” rating on shares of Tyler Technologies in a report on Friday, November 2nd. Robert W. Baird cut their price target on Tyler Technologies from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, November 2nd. Finally, TheStreet downgraded Tyler Technologies from a “b” rating to a “c+” rating in a report on Thursday, November 1st. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Tyler Technologies presently has an average rating of “Buy” and a consensus target price of $233.36.

Shares of NYSE:TYL traded down $4.49 on Thursday, reaching $208.70. The company had a trading volume of 756,700 shares, compared to its average volume of 279,211. Tyler Technologies has a 52-week low of $173.26 and a 52-week high of $252.47. The company has a market capitalization of $8.38 billion, a PE ratio of 65.63, a P/E/G ratio of 4.75 and a beta of 0.81.

In related news, Director Dustin R. Womble sold 20,000 shares of the business’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $190.66, for a total transaction of $3,813,200.00. Following the transaction, the director now directly owns 198,122 shares in the company, valued at approximately $37,773,940.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dustin R. Womble sold 7,500 shares of the business’s stock in a transaction on Friday, December 14th. The stock was sold at an average price of $186.26, for a total value of $1,396,950.00. Following the transaction, the director now owns 185,622 shares in the company, valued at $34,573,953.72. The disclosure for this sale can be found here. 4.70% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in TYL. Quantamental Technologies LLC purchased a new position in Tyler Technologies during the 4th quarter worth $33,000. Cutler Group LP purchased a new position in Tyler Technologies during the 4th quarter worth $37,000. Captrust Financial Advisors grew its stake in Tyler Technologies by 22.9% during the 4th quarter. Captrust Financial Advisors now owns 403 shares of the technology company’s stock worth $75,000 after buying an additional 75 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Tyler Technologies during the 4th quarter worth $79,000. Finally, Bronfman E.L. Rothschild L.P. grew its stake in Tyler Technologies by 15.6% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 629 shares of the technology company’s stock worth $117,000 after buying an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. It operates through two segments, Enterprise Software, and Appraisal and Tax. The company's financial management solutions include modular fund accounting systems for government agencies or not-for-profit entities; and utility billing systems for the billing and collection of metered and non-metered services.

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