Tyler Technologies Q3 Revenue and Adjusted Profit Fall Short of Estimates
TYL sits 26% above its 52-week low of $270.71.
Summary
Tyler Technologies posted Q3 revenue of $647.566 million, missing the IBES estimate of $651.6 million. Adjusted net income came in at $143.4 million versus the $147.6 million consensus, while GAAP net income was $95.074 million. Both the top line and adjusted profit landed below expectations, a modest but broad miss for a company trading at a premium multiple. This is the first quarterly update since the July 29 Q2 report that paired double-digit EPS growth with a new $1.5 billion buyback authorization, and it follows the September 15 8-K outlining a $260 million accelerated repurchase window.
At the time of this announcement, TYL was trading at $341.20 on NYSE in the Technology sector, with a market capitalization of approximately $14.8B. The 52-week trading range was $270.71 to $513.32. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.