Lord Abbett & CO. LLC Acquires 2,584 Shares of Tyler Technologies, Inc. $TYL

Key Points

• Lord Abbett & CO. LLC increased its stake in Tyler Technologies by 18.3% in the first quarter, now holding 16,703 shares valued at approximately $9.7 million.
• Insiders sold a total of 28,102 shares of Tyler Technologies over the last quarter, with CEO H Lynn Moore selling 5,250 shares and CFO Brian K. Miller selling 1,200 shares.
• Wall Street analysts currently rate Tyler Technologies as a "Moderate Buy" based on an average target price of $688.27, with four holding and eight buying ratings.

Lord Abbett & CO. LLC grew its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 18.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 16,703 shares of the technology company's stock after buying an additional 2,584 shares during the period. Lord Abbett & CO. LLC's holdings in Tyler Technologies were worth $9,711,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. HighPoint Advisor Group LLC boosted its holdings in shares of Tyler Technologies by 10.9% in the 1st quarter. HighPoint Advisor Group LLC now owns 711 shares of the technology company's stock valued at $380,000 after buying an additional 70 shares during the period. Exchange Traded Concepts LLC grew its position in Tyler Technologies by 12.6% in the first quarter. Exchange Traded Concepts LLC now owns 501 shares of the technology company's stock worth $291,000 after acquiring an additional 56 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in Tyler Technologies by 20.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 42,500 shares of the technology company's stock worth $24,507,000 after acquiring an additional 7,300 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Tyler Technologies by 0.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,133 shares of the technology company's stock worth $2,984,000 after acquiring an additional 31 shares in the last quarter. Finally, CX Institutional bought a new stake in shares of Tyler Technologies during the 1st quarter worth $176,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $573.60, for a total value of $215,100.00. Following the completion of the sale, the insider owned 247 shares of the company's stock, valued at approximately $141,679.20. The trade was a 60.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $588.89, for a total transaction of $3,091,672.50. Following the completion of the sale, the chief executive officer directly owned 81,775 shares of the company's stock, valued at approximately $48,156,479.75. The trade was a 6.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,102 shares of company stock valued at $14,028,884. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TYL shares. Barclays upped their price objective on shares of Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Wall Street Zen cut shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Cantor Fitzgerald assumed coverage on shares of Tyler Technologies in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 target price for the company. DA Davidson set a $585.00 price objective on shares of Tyler Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Finally, Piper Sandler dropped their target price on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Tyler Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $688.27.

Tyler Technologies Price Performance

Shares of NYSE TYL traded down $7.01 during mid-day trading on Thursday, hitting $560.94. The company's stock had a trading volume of 55,771 shares, compared to its average volume of 292,491. The stock has a market cap of $24.27 billion, a price-to-earnings ratio of 80.09, a price-to-earnings-growth ratio of 4.38 and a beta of 0.85. Tyler Technologies, Inc. has a one year low of $513.52 and a one year high of $661.31. The company's fifty day simple moving average is $576.11 and its 200-day simple moving average is $577.83.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. The firm had revenue of $584.01 million for the quarter, compared to analyst estimates of $587.59 million. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The business's revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.40 earnings per share. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. On average, sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.