Tyler Technologies Inc.’s stock
TYL,
was up 10.2% on Thursday, making it one of the top-performing components of the S&P 500
SPX,
after its third-quarter earnings of $2.14 a share beat the FactSet consensus estimate of $2 a share. Shares of the public-sector software and service provider are on track to register their largest one-day gain since it saw a 10.3% rise on March 26, 2020, according to Dow Jones Market Data. The stock, which has risen three of the past four days, is up 26.2% in 2023, putting it pace for its best year since 2020 when it gained 45.5%. The stock is currently trading about 26% below its all-time high of $552.14 on Nov. 16, 2021. Tyler Technologies also said it expects 2023 adjusted earnings of $7.66 a share to $7.80 a share, compared to the analyst consensus estimate of $7.72 a share.
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