Tyler Technologies (NYSE:TYL) Releases Quarterly Earnings Results, Misses Estimates By $0.57 EPS

Tyler Technologies (NYSE:TYL) issued its quarterly earnings data on Wednesday. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57), Zacks reports. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%.

Tyler Technologies Price Performance

NYSE TYL traded up $1.54 during trading on Wednesday, hitting $611.01. 398,540 shares of the stock traded hands, compared to its average volume of 227,132. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies has a 12-month low of $397.80 and a 12-month high of $638.56. The firm has a 50-day simple moving average of $595.96 and a 200-day simple moving average of $593.19. The company has a market capitalization of $26.15 billion, a P/E ratio of 111.50, a price-to-earnings-growth ratio of 4.78 and a beta of 0.78.

Insider Transactions at Tyler Technologies

In related news, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the sale, the chief financial officer now owns 12,198 shares in the company, valued at approximately $7,709,257.98. This represents a 17.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 3,250 shares of Tyler Technologies stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $631.41, for a total transaction of $2,052,082.50. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $47,355,750. The trade was a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock valued at $18,941,368 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TYL. Piper Sandler lifted their price objective on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Oppenheimer lifted their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. JMP Securities increased their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research note on Friday, October 25th. Wells Fargo & Company restated an “equal weight” rating and set a $615.00 target price (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Finally, Barclays raised their price target on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $645.69.

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.