Assetmark Inc. Has $17.44 Million Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Assetmark Inc. increased its stake in Tyler Technologies by 184.7%, owning a total of 29,994 shares valued at approximately $17.44 million following the addition of 19,458 shares in the first quarter.
• Tyler Technologies witnessed significant investments from large institutional investors, with 93.30% of the stock currently held by such entities, including Norges Bank and GAMMA Investing LLC.
• Research analysts are showing mixed sentiments on Tyler Technologies, with price targets adjusted downward by multiple firms, resulting in a current average target price of $685.09 and a consensus rating of "Moderate Buy".

Assetmark Inc. increased its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 184.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,994 shares of the technology company's stock after buying an additional 19,458 shares during the quarter. Assetmark Inc. owned about 0.07% of Tyler Technologies worth $17,438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TYL. Retirement Wealth Solutions LLC purchased a new position in Tyler Technologies in the first quarter valued at about $26,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in Tyler Technologies by 820.0% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock valued at $27,000 after purchasing an additional 41 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock valued at $32,000 after purchasing an additional 42 shares in the last quarter. Cornerstone Planning Group LLC boosted its stake in shares of Tyler Technologies by 221.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock worth $35,000 after acquiring an additional 42 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Tyler Technologies during the 4th quarter worth about $40,000. 93.30% of the stock is owned by institutional investors and hedge funds.

Tyler Technologies Price Performance

Shares of TYL traded down $0.40 during midday trading on Monday, hitting $556.06. The stock had a trading volume of 572,317 shares, compared to its average volume of 281,433. The company has a 50 day simple moving average of $574.26 and a two-hundred day simple moving average of $578.52. The firm has a market cap of $23.98 billion, a price-to-earnings ratio of 83.74, a price-to-earnings-growth ratio of 4.35 and a beta of 0.84. Tyler Technologies, Inc. has a twelve month low of $513.52 and a twelve month high of $661.31.

Insiders Place Their Bets

In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $585.18, for a total transaction of $3,072,195.00. Following the completion of the transaction, the chief executive officer owned 81,775 shares in the company, valued at approximately $47,853,094.50. This trade represents a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John S. Marr, Jr. sold 4,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $568.66, for a total value of $2,274,640.00. Following the sale, the insider owned 6,983 shares of the company's stock, valued at approximately $3,970,952.78. This represents a 36.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock valued at $15,177,230 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Robert W. Baird decreased their price target on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Wall Street Zen downgraded Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Cantor Fitzgerald initiated coverage on 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 cut their price target on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $685.09.

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.