Tyler Technologies (NYSE:TYL) Updates FY24 Earnings Guidance

Tyler Technologies (NYSE:TYL) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $9.10-9.30 for the period, compared to the consensus earnings per share 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 have recently weighed in on TYL. Oppenheimer increased their price objective on Tyler Technologies from $480.00 to $500.00 and gave the company an outperform rating in a report on Friday. Robert W. Baird increased their price target on Tyler Technologies from $500.00 to $525.00 and gave the stock an outperform rating in a report on Friday. Needham & Company LLC reaffirmed a buy rating and set a $500.00 price target on shares of Tyler Technologies in a report on Thursday. JPMorgan Chase & Co. increased their price target on Tyler Technologies from $500.00 to $526.00 and gave the stock an overweight rating in a report on Thursday, February 15th. Finally, JMP Securities reaffirmed a market outperform rating and set a $490.00 price target on shares of Tyler Technologies in a report on Friday. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $465.85.

Tyler Technologies Price Performance

Shares of TYL stock traded up $5.90 during mid-day trading on Friday, reaching $463.97. The stock had a trading volume of 118,824 shares, compared to its average volume of 209,575. Tyler Technologies has a 12-month low of $361.16 and a 12-month high of $465.78. The company has a market cap of $19.69 billion, a P/E ratio of 105.12, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. The business has a 50-day simple moving average of $422.62 and a 200 day simple moving average of $414.83. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. Tyler Technologies had a return on equity of 9.49% and a net margin of 9.50%. The business had revenue of $480.94 million during the quarter, compared to analysts’ expectations of $483.34 million. On average, sell-side analysts anticipate that Tyler Technologies will post 6.77 earnings per share for the current year.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 7,500 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $435.19, for a total transaction of $3,263,925.00. Following the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $32,639,250. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO H Lynn Moore, Jr. sold 10,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $435.98, for a total transaction of $4,359,800.00. Following the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $32,698,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 7,500 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $435.19, for a total value of $3,263,925.00. Following the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $32,639,250. The disclosure for this sale can be found here. Insiders sold a total of 50,608 shares of company stock worth $21,974,819 over the last 90 days. 2.20% of the stock is currently owned by corporate 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.