DA Davidson analyst Peter Heckmann lowered the firm’s price target on Tyler Technologies (TYL) to $510 from $540 and keeps a Neutral rating on the shares. The firm views the recent acquisitions of two relatively small companies, Edulink and CloudGavel, positively and consistent with Tyler’s appetite for tuck-in acquisitions with complementary solutions, the analyst tells investors in a research note. DA Davidson adds however that its reduced price target reflects the pullback in the valuations for Vertically-focused Software peers.
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