Tyler Technologies, Inc. (NYSE:TYL) Expected to Announce Quarterly Sales of $290.29 Million

Brokerages expect Tyler Technologies, Inc. (NYSE:TYL) to announce $290.29 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Tyler Technologies’ earnings, with estimates ranging from $284.40 million to $293.36 million. Tyler Technologies reported sales of $243.03 million in the same quarter last year, which indicates a positive year over year growth rate of 19.4%. The business is scheduled to issue its next earnings results on Wednesday, February 19th.

On average, analysts expect that Tyler Technologies will report full-year sales of $1.09 billion for the current fiscal year, with estimates ranging from $1.08 billion to $1.10 billion. For the next year, analysts expect that the business will post sales of $1.21 billion, with estimates ranging from $1.20 billion to $1.22 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Tyler Technologies.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). The business had revenue of $275.40 million for the quarter, compared to analysts’ expectations of $281.03 million. Tyler Technologies had a net margin of 12.63% and a return on equity of 11.51%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the business posted $1.23 EPS.

A number of research firms have commented on TYL. Benchmark raised their target price on shares of Tyler Technologies from $235.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. KeyCorp reissued a “hold” rating on shares of Tyler Technologies in a research report on Thursday, August 1st. JMP Securities raised their target price on shares of Tyler Technologies from $245.00 to $286.00 and gave the company a “market outperform” rating in a research report on Friday, September 27th. DA Davidson raised their target price on shares of Tyler Technologies from $216.00 to $238.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $271.25.

NYSE TYL traded up $2.55 during trading on Thursday, reaching $284.83. 321,344 shares of the company’s stock traded hands, compared to its average volume of 231,568. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 76.16 and a beta of 0.86. The company’s 50 day simple moving average is $266.75 and its two-hundred day simple moving average is $241.38. Tyler Technologies has a 12-month low of $173.26 and a 12-month high of $286.74.

In other news, Chairman John S. Marr, Jr. sold 20,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $258.03, for a total value of $5,160,600.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 3,000 shares of Tyler Technologies stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $256.52, for a total transaction of $769,560.00. Following the completion of the transaction, the chief financial officer now directly owns 50,216 shares in the company, valued at approximately $12,881,408.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,700 shares of company stock worth $18,483,930. Insiders own 4.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in TYL. Van ECK Associates Corp acquired a new stake in Tyler Technologies in the 2nd quarter worth approximately $40,000. Quadrant Capital Group LLC boosted its stake in Tyler Technologies by 233.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 220 shares of the technology company’s stock worth $56,000 after purchasing an additional 154 shares in the last quarter. Tompkins Financial Corp boosted its stake in Tyler Technologies by 42.0% in the 2nd quarter. Tompkins Financial Corp now owns 291 shares of the technology company’s stock worth $63,000 after purchasing an additional 86 shares in the last quarter. Cerebellum GP LLC boosted its stake in Tyler Technologies by 25.0% in the 3rd quarter. Cerebellum GP LLC now owns 250 shares of the technology company’s stock worth $66,000 after purchasing an additional 50 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in Tyler Technologies by 42.3% in the 2nd quarter. Advisory Services Network LLC now owns 313 shares of the technology company’s stock worth $68,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.

See Also: Why do earnings reports matter?

Get a free copy of the Zacks research report on Tyler Technologies (TYL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Tyler Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyler Technologies and related companies with MarketBeat.com's FREE daily email newsletter.