Analysts Anticipate Tyler Technologies, Inc. (NYSE:TYL) Will Post Quarterly Sales of $277.80 Million
Analysts forecast that Tyler Technologies, Inc. (NYSE:TYL) will report sales of $277.80 million for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Tyler Technologies’ earnings. The lowest sales estimate is $272.24 million and the highest is $284.12 million. Tyler Technologies reported sales of $236.06 million in the same quarter last year, which indicates a positive year over year growth rate of 17.7%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, July 31st.
According to Zacks, analysts expect that Tyler Technologies will report full-year sales of $1.09 billion for the current fiscal year, with estimates ranging from $1.09 billion to $1.10 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.20 billion, with estimates ranging from $1.18 billion to $1.22 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Tyler Technologies.
Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, May 1st. The technology company reported $0.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.95. Tyler Technologies had a return on equity of 11.28% and a net margin of 14.23%. The business had revenue of $247.10 million for the quarter, compared to analysts’ expectations of $251.75 million. During the same period last year, the firm posted $1.13 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis.
In other news, Director Glenn A. Carter sold 325 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $221.46, for a total transaction of $71,974.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman John S. Marr, Jr. sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $220.17, for a total value of $6,605,100.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,636 shares of company stock worth $13,101,345. Corporate insiders own 4.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Tyler Technologies by 2.4% during the 1st quarter. BlackRock Inc. now owns 3,805,249 shares of the technology company’s stock valued at $777,794,000 after purchasing an additional 88,378 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Tyler Technologies by 0.8% during the 1st quarter. Janus Henderson Group PLC now owns 1,431,181 shares of the technology company’s stock valued at $292,534,000 after purchasing an additional 11,450 shares during the last quarter. TimesSquare Capital Management LLC increased its position in shares of Tyler Technologies by 262.4% during the 1st quarter. TimesSquare Capital Management LLC now owns 593,503 shares of the technology company’s stock valued at $121,312,000 after purchasing an additional 429,720 shares during the last quarter. Wasatch Advisors Inc. increased its position in shares of Tyler Technologies by 26.1% during the 1st quarter. Wasatch Advisors Inc. now owns 540,760 shares of the technology company’s stock valued at $110,531,000 after purchasing an additional 111,766 shares during the last quarter. Finally, Norges Bank purchased a new position in Tyler Technologies during the 4th quarter valued at $81,675,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.
TYL traded up $3.82 on Tuesday, hitting $232.58. 146,216 shares of the company’s stock traded hands, compared to its average volume of 135,027. The firm has a 50 day simple moving average of $221.53. The company has a market capitalization of $8.92 billion, a price-to-earnings ratio of 62.19 and a beta of 0.92. Tyler Technologies has a one year low of $173.26 and a one year high of $252.47. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08.
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.
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