Tyler Technologies (NYSE:TYL) Releases FY24 Earnings Guidance

Tyler Technologies (NYSE:TYL) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $9.10-9.30 for the period, compared to the consensus estimate of $9.02. The company issued revenue guidance of $2.11-2.14 billion, compared to the consensus revenue estimate of $2.12 billion. Tyler Technologies also updated its FY 2024 guidance to 9.100-9.300 EPS.

Wall Street Analyst Weigh In

Several research firms recently commented on TYL. JPMorgan Chase & Co. increased their target price on Tyler Technologies from $500.00 to $526.00 and gave the company an overweight rating in a report on Thursday, February 15th. Piper Sandler reaffirmed an overweight rating and set a $520.00 price objective on shares of Tyler Technologies in a report on Wednesday. JMP Securities reaffirmed a market outperform rating and set a $490.00 price objective on shares of Tyler Technologies in a report on Friday, February 16th. DA Davidson raised their price objective on Tyler Technologies from $412.00 to $434.00 and gave the stock a neutral rating in a report on Thursday, February 22nd. Finally, Needham & Company LLC reaffirmed a buy rating and set a $500.00 price objective on shares of Tyler Technologies in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $460.46.

Tyler Technologies Stock Performance

NYSE:TYL traded up $33.18 during mid-day trading on Thursday, reaching $452.18. The stock had a trading volume of 288,320 shares, compared to its average volume of 208,176. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $19.19 billion, a price-to-earnings ratio of 114.57, a PEG ratio of 4.12 and a beta of 0.81. Tyler Technologies has a twelve month low of $361.16 and a twelve month high of $464.81. The business has a 50 day simple moving average of $422.28 and a 200 day simple moving average of $414.52.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. Tyler Technologies had a net margin of 8.50% and a return on equity of 8.85%. The company had revenue of $480.94 million during the quarter, compared to the consensus estimate of $483.34 million. On average, analysts expect that Tyler Technologies will post 6.77 earnings per share for the current fiscal year.

Insider Activity

In other news, insider John S. Marr, Jr. sold 6,500 shares of Tyler Technologies stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $437.49, for a total transaction of $2,843,685.00. Following the completion of the sale, the insider now directly owns 6,400 shares in the company, valued at approximately $2,799,936. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider John S. Marr, Jr. sold 6,500 shares of Tyler Technologies stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $437.49, for a total transaction of $2,843,685.00. Following the completion of the transaction, the insider now directly owns 6,400 shares in the company, valued at approximately $2,799,936. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey David Puckett sold 2,609 shares of Tyler Technologies stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $423.10, for a total value of $1,103,867.90. Following the transaction, the chief operating officer now owns 6,925 shares of the company’s stock, valued at $2,929,967.50. The disclosure for this sale can be found here. In the last three months, insiders sold 50,608 shares of company stock worth $21,974,819. 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.