A tech stock you need to know
Tyler Technoligies is a leader in technical and system software and an addition to my Wall Street Survivor portfolio
On Financial Tides, I've been high on Tyler Technologies (TYL) for some time, and now is the time to add it to my Wall Street Survivor portfolio. TYL is poised in the middle of the technical and system software industry and might be a nice addition to your portfolio too.
Tyler is a major provider of technology, data management systems, and other services for local governments and other enterprises. The company intends to pursue a consolidation strategy that, if successful, could lead to significant revenue growth.
On a fundamental basis, the five analysts who follow the stock estimate sales growth of 9.7% and earnings per share growth of 16.2% year-over-year. Four of them have strong buy recommendations on stock -- the fifth says hold -- so the company does have some positive buzz on Wall Street.
You know that basically I'm a momentum investor, and this stock fits the criteria, with 14 new highs in the last 20 trading sessions and a 33.22% price appreciation in the last 65 days. BarChart rates TYL as a 96% buy with 12 of its 13 technical indicators buy (with one hold).
Wall Street Survivor Mark's checklist has positive ratings, with the Survivor Sentiment rating a 5/5 and the Fundamental rating 5/5 also.
Recommendation: Buy Tyler Technologies below 19.50, with a stop loss at not less than 17.
Disclosure: I do not hold a position in Tyler Technologies at the time of this publication.
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The stock rises 9% after the company reveals strong second-quarter results.
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