Lord Abbett & CO. LLC Sells 21,873,478 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Lord Abbett & CO. LLC lowered its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 99.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,119 shares of the technology company's stock after selling 21,873,478 shares during the quarter. Lord Abbett & CO. LLC's holdings in Tyler Technologies were worth $8,142,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock valued at $26,000 after purchasing an additional 31 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Tyler Technologies in the fourth quarter worth $32,000. Brown Brothers Harriman & Co. increased its stake in shares of Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock worth $32,000 after buying an additional 42 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Tyler Technologies in the fourth quarter valued at $41,000. Finally, Smithfield Trust Co boosted its stake in Tyler Technologies by 55.6% during the 4th quarter. Smithfield Trust Co now owns 84 shares of the technology company's stock valued at $48,000 after acquiring an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company's stock.

Tyler Technologies Trading Down 0.5 %

NYSE:TYL traded down $2.72 on Thursday, hitting $540.58. 249,915 shares of the stock were exchanged, compared to its average volume of 257,954. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. Tyler Technologies, Inc. has a 52 week low of $452.57 and a 52 week high of $661.31. The stock has a market capitalization of $23.31 billion, a price-to-earnings ratio of 89.20, a P/E/G ratio of 4.93 and a beta of 0.84. The company's 50-day moving average price is $570.15 and its 200 day moving average price is $592.32.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.22. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The company had revenue of $562.43 million during the quarter, compared to analyst estimates of $556.45 million. During the same quarter in the previous year, the business earned $2.20 EPS. The firm's revenue was up 10.3% on a year-over-year basis. On average, equities research analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wells Fargo & Company lowered their price objective on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Piper Sandler lowered their price target on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a report on Friday, April 25th. StockNews.com upgraded Tyler Technologies from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Robert W. Baird reduced their price target on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, DA Davidson cut their target price on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Tyler Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $674.67.

Insider Buying and Selling at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at $4,322,477. This represents a 46.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total value of $951,049.00. Following the transaction, the chief financial officer now directly owns 14,026 shares of the company's stock, valued at $8,606,073.08. This trade represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,064 shares of company stock worth $8,688,030. Corporate insiders own 1.10% of the company's stock.

Tyler Technologies Profile

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.