Tyler Technologies (NYSE:TYL) Issues 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 Price Performance

Tyler Technologies stock traded down $5.81 during mid-day trading on Friday, reaching $605.86. The company had a trading volume of 238,251 shares, compared to its average volume of 228,208. The stock’s 50-day simple moving average is $584.88 and its 200-day simple moving average is $526.68. The company has a market capitalization of $25.85 billion, a P/E ratio of 125.18, a P/E/G ratio of 5.42 and a beta of 0.78. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 1.06. Tyler Technologies has a 1 year low of $361.16 and a 1 year high of $631.43.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The firm had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. During the same period in the previous year, the firm posted $1.66 earnings per share. Tyler Technologies’s revenue was up 9.8% on a year-over-year basis. On average, equities analysts predict that Tyler Technologies will post 7.21 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TYL shares. BTIG Research lifted their target price on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a report on Friday, July 26th. Evercore ISI raised shares of Tyler Technologies to a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Company lifted their target price on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. DA Davidson increased their price target on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Oppenheimer increased their target price on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $642.62.

Insider Activity at Tyler Technologies

In other news, Director Daniel M. Pope sold 275 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $578.26, for a total transaction of $159,021.50. Following the completion of the sale, the director now owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $43,236,750. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel M. Pope sold 275 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $578.26, for a total transaction of $159,021.50. Following the completion of the transaction, the director now directly owns 3,218 shares of the company’s stock, valued at $1,860,840.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,375 shares of company stock valued at $17,049,739 in the last ninety days. Insiders own 2.20% of the company’s stock.

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.