Tyler Technologies (NYSE:TYL) Releases 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 9.250-9.450 for the period, compared to the consensus estimate of 9.220. The company issued revenue guidance of $2.1 billion-$2.2 billion, compared to the consensus revenue estimate of $2.1 billion. Tyler Technologies also updated its FY24 guidance to $9.25-9.45 EPS.

Analyst Ratings Changes

A number of brokerages have weighed in on TYL. Loop Capital lifted their target price on Tyler Technologies from $485.00 to $530.00 and gave the stock a buy rating in a report on Tuesday, May 21st. Piper Sandler reissued an overweight rating and issued a $520.00 price objective on shares of Tyler Technologies in a research note on Wednesday, April 24th. Wells Fargo & Company raised their price objective on Tyler Technologies from $550.00 to $580.00 and gave the company an overweight rating in a research note on Thursday, July 18th. Needham & Company LLC reissued a buy rating and issued a $600.00 price objective on shares of Tyler Technologies in a research note on Thursday. Finally, Truist Financial reissued a buy rating and issued a $560.00 price objective (up previously from $510.00) on shares of Tyler Technologies in a research note on Thursday, May 23rd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Tyler Technologies has a consensus rating of Moderate Buy and an average target price of $539.17.

Tyler Technologies Stock Performance

Shares of TYL traded up $48.54 during mid-day trading on Thursday, hitting $564.34. The stock had a trading volume of 622,142 shares, compared to its average volume of 221,483. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94. Tyler Technologies has a 52 week low of $361.16 and a 52 week high of $572.80. The firm has a market cap of $23.96 billion, a P/E ratio of 127.83, a PEG ratio of 4.94 and a beta of 0.76. The business has a fifty day moving average price of $495.82 and a 200-day moving average price of $454.78.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.06. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. The company had revenue of $540.98 million for the quarter, compared to analyst estimates of $541.01 million. During the same period in the previous year, the company posted $1.53 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that Tyler Technologies will post 7.1 EPS for the current year.

Insider Buying and Selling

In related news, Director Daniel M. Pope sold 520 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total transaction of $255,413.60. Following the completion of the transaction, the director now directly owns 3,493 shares in the company, valued at $1,715,691.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Brenda A. Cline sold 5,000 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the completion of the sale, the director now directly owns 1,358 shares in the company, valued at approximately $623,091.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel M. Pope sold 520 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $491.18, for a total value of $255,413.60. Following the sale, the director now owns 3,493 shares of the company’s stock, valued at $1,715,691.74. The disclosure for this sale can be found here. Insiders sold a total of 26,241 shares of company stock worth $12,495,890 over the last ninety days. 2.20% of the stock is 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.