In a report released yesterday, Brent Bracelin from KeyBanc maintained a Hold rating on Tyler Technologies (TYL). The company’s shares closed yesterday at $208.70.
Bracelin noted:
“We are lowering EPS estimates to $5.21 from $5.35 on the assumption that 2019 will be another year of investment. We see organic and inorganic investments as key drivers to fund further share gains within the $14B local government software TAM that is growing 5-6% annually, particularly as revenue approaches $1B. Revenue volatility will likely increase in 2019 (it missed revenue in five of the last seven quarters) as it executes a subscription model transition and reports under ASC606. Our Sector Weight rating reflects a balanced risk-reward. Reports $4.3M shortfall, organic growth upticks to 7.4%.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 26.0% and a 77.4% success rate. Bracelin covers the Technology sector, focusing on stocks such as Salesforce.com, Everbridge Inc, and Veeva Systems.
Currently, the analyst consensus on Tyler Technologies is a Moderate Buy with an average price target of $230.
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Tyler Technologies’ market cap is currently $8.31B and has a P/E ratio of 46.97. The company has a Price to Book ratio of 5.72.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. Most recently, in December 2018, Dustin Womble, a Director at TYL sold 7,500 shares for a total of $1,396,875.
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Tyler Technologies, Inc. provides integrated technology and management solutions and services for public sector with a focus on local governments. It develops and markets a broad line of software products and.
