Tyler Technologies hits all-time high after raising annual forecasts

Tyler Technologies

25/07/2024 18:07

** Shares of IT solutions provider Tyler Technologies
 TYL.N  hit all-time high, up 11% at $572.8
    ** Co raises full-year revenue and profit forecasts on
Wednesday, helped by robust demand in the public sector for its
software and services
    ** TYL raises annual revenue forecast to between $2.12
bln-$2.15 bln, vs prior projection of $2.11 bln-$2.14 bln
    ** Raises 2024 adj. profit forecast to between
$9.25-$9.45/share, from earlier estimate of $9.10-$9.30
    ** "Our new business pipeline remains at elevated levels,
reflecting a robust market environment, growing cross-sell
opportunities, and continued solid execution by our sales
organization,"- CEO Lynn Moore
    ** Tyler posts Q2 revenue of $541 mln, in line with
estimates and adj. profit of $2.40/share
    ** TYL has risen 36.4% YTD

 (Reporting by Juby Babu in Mexico City)
 ((Juby.Babu@thomsonreuters.com;))