Tyler Technologies (TYL) Given Buy Rating at Northland Securities
Northland Securities reaffirmed their buy rating on shares of Tyler Technologies (NYSE:TYL) in a research report sent to investors on Friday morning. The brokerage currently has a $240.00 price objective on the technology company’s stock.
“We hosted investor meetings with management and we came away incrementally more confident on the company’s road map and ongoing execution. Management comfortably detailed the bookings growth rate last quarter (law of large numbers/gradual shift to subscription services/lumpy business). We note that of 12 large deals awarded but not signed last quarter, 6 have now completed the signature process, and we think the company is setting up to for a bit of a surge 1H19. The company used a lower tax rate in 2017/18 to increase its R&D spend and improve its product line in several areas. Similar to other periods, notably 2009 and 2010, when it invested and its competitors did not, TYL plans on seeing the benefits in stronger sales in a couple of years given the lag between investment and new sales in this market.”,” Northland Securities’ analyst commented.
Several other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Tyler Technologies from a hold rating to a sell rating in a research note on Thursday, February 28th. DA Davidson lowered shares of Tyler Technologies from a buy rating to a neutral rating and set a $210.00 target price on the stock. in a research note on Friday, February 22nd. ValuEngine lowered shares of Tyler Technologies from a buy rating to a hold rating in a research note on Friday, February 22nd. KeyCorp reissued a hold rating on shares of Tyler Technologies in a research note on Thursday, February 21st. Finally, TheStreet raised shares of Tyler Technologies from a c+ rating to a b- rating in a research note on Friday, February 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $238.56.
Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, February 20th. The technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.29. Tyler Technologies had a net margin of 15.74% and a return on equity of 11.28%. The business had revenue of $242.00 million for the quarter, compared to analyst estimates of $244.65 million. During the same period in the prior year, the company posted $1.07 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, research analysts expect that Tyler Technologies will post 4.17 EPS for the current year.
In other Tyler Technologies news, Director Dustin R. Womble sold 3,676 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $206.87, for a total value of $760,454.12. Following the completion of the sale, the director now owns 181,798 shares in the company, valued at approximately $37,608,552.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John S. Marr, Jr. sold 30,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $200.84, for a total transaction of $6,025,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,676 shares of company stock valued at $8,798,254. Insiders own 4.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Quantamental Technologies LLC acquired a new stake in Tyler Technologies in the 4th quarter valued at about $33,000. Cutler Group LP acquired a new stake in Tyler Technologies in the 4th quarter valued at about $37,000. Captrust Financial Advisors raised its holdings in Tyler Technologies by 22.9% in the 4th quarter. Captrust Financial Advisors now owns 403 shares of the technology company’s stock valued at $75,000 after acquiring an additional 75 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Tyler Technologies in the 4th quarter valued at about $79,000. Finally, Bronfman E.L. Rothschild L.P. raised its holdings in Tyler Technologies by 15.6% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 629 shares of the technology company’s stock valued at $117,000 after acquiring an additional 85 shares during the last quarter. Institutional investors own 89.50% 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.
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