Assetmark Inc. Boosts Holdings in Tyler Technologies, Inc. $TYL

Key Points

• AssetMark increased its stake in Tyler Technologies by 7.8% to 68,802 shares (about $31.23 million), and institutional investors now own roughly 93.3% of the company.
• Tyler missed fourth-quarter estimates, reporting $2.64 EPS (vs. $2.71 expected) and revenue of $575.18M (vs. $591.09M expected), though revenue was up 6.3% year‑over‑year.
• Analysts are generally positive (12 Buys, 3 Holds) with a consensus target of $463.69, versus the recent share price around $322.32; market cap is about $13.68 billion and the P/E is ~44.8.

Assetmark Inc. grew its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 7.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,802 shares of the technology company's stock after purchasing an additional 5,007 shares during the period. Assetmark Inc. owned approximately 0.16% of Tyler Technologies worth $31,233,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. General American Investors Co. Inc. grew its holdings in Tyler Technologies by 7.2% during the 3rd quarter. General American Investors Co. Inc. now owns 44,381 shares of the technology company's stock worth $23,218,000 after acquiring an additional 3,000 shares in the last quarter. Lazard Freres Gestion S.A.S. grew its holdings in Tyler Technologies by 150.0% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 5,000 shares of the technology company's stock worth $2,615,000 after acquiring an additional 3,000 shares in the last quarter. ICICI Prudential Asset Management Co Ltd acquired a new position in Tyler Technologies during the 3rd quarter worth $2,111,000. Principal Financial Group Inc. grew its holdings in Tyler Technologies by 11.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,410,640 shares of the technology company's stock worth $738,010,000 after acquiring an additional 144,612 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Tyler Technologies by 4.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 172,932 shares of the technology company's stock worth $90,471,000 after acquiring an additional 8,126 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company's stock.

Tyler Technologies Stock Up 0.5%

TYL stock opened at $322.32 on Wednesday. The company has a market capitalization of $13.68 billion, a P/E ratio of 44.77, a PEG ratio of 2.16 and a beta of 0.92. The company has a 50-day simple moving average of $338.97 and a 200 day simple moving average of $420.28. Tyler Technologies, Inc. has a fifty-two week low of $283.71 and a fifty-two week high of $621.34.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.07). Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.The company had revenue of $575.18 million during the quarter, compared to analyst estimates of $591.09 million. During the same period in the previous year, the company earned $2.43 EPS. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TYL shares. Needham & Company LLC reiterated a "buy" rating and set a $750.00 target price on shares of Tyler Technologies in a research note on Tuesday, February 3rd. Stifel Nicolaus lowered their target price on shares of Tyler Technologies from $550.00 to $400.00 and set a "buy" rating for the company in a research note on Friday, February 13th. TD Cowen lowered their target price on shares of Tyler Technologies from $600.00 to $500.00 and set a "buy" rating for the company in a research note on Friday, February 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Tyler Technologies in a research note on Friday, January 9th. Finally, BTIG Research reduced their price target on shares of Tyler Technologies from $470.00 to $420.00 and set a "buy" rating for the company in a report on Friday, April 10th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $463.69.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, COO Jeffrey David Puckett sold 5,174 shares of the business's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $369.93, for a total value of $1,914,017.82. Following the sale, the chief operating officer directly owned 7,754 shares in the company, valued at approximately $2,868,437.22. The trade was a 40.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew D. Teed purchased 1,600 shares of the company's stock in a transaction on Monday, February 23rd. The stock was acquired at an average price of $309.91 per share, for a total transaction of $495,856.00. Following the completion of the transaction, the director owned 5,118 shares of the company's stock, valued at $1,586,119.38. This represents a 45.48% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 7,298 shares of company stock valued at $2,658,721 in the last quarter. 1.10% of the stock is owned by company insiders.

Tyler Technologies Company Profile

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler's product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.

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