Tyler Technologies Reports Earnings for Third Quarter 2020
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Tyler Tech (TYL) PT Raised to $460 at Needham & Company
November 5, 2020 7:20 AM ESTNeedham & Company analyst Scott Berg raised the price target on Tyler Tech (NYSE: TYL) to $460.00 (from $380.00) while maintaining a Buy rating.
The analyst commented, "Tyler reported Q3 revenue above our expectations due to improving Subscription revenue growth. However, the company implied... More
Tyler Technologies (TYL) Tops Q3 EPS by 17c, Revenues Beat; Offers FY20 EPS Guidance Above Consensus
November 4, 2020 4:23 PM ESTTyler Technologies (NYSE: TYL) reported Q3 EPS of $1.50, $0.17 better than the analyst estimate of $1.33. Revenue for the quarter came in at $285.7 million versus the consensus estimate of $283.96 million.
Third Quarter 2020 Financial Highlights:
Total revenues were $285.7 million, up 3.8% from $275.4 million for the third quarter of 2019. Organic revenue growth was 3.3%. Non-GAAP total revenues were $285.9 million, up 3.2% from $277.2 million for the third quarter of 2019. Non-GAAP organic revenue growth was 2.7%.Recurring revenues from maintenance and subscriptions were $207.3 million, up 12.0% from $185.1 million for the third quarter of 2019, and comprised 72.5% of third quarter 2020 revenue.Operating income... More