Tyler Technologies price target lowered to $560 from $585 at DA Davidson

DA Davidson lowered the firm’s price target on Tyler Technologies (TYL) to $560 from $585 and keeps a Neutral rating on the shares ahead of its Q3 results. Over the next two years, Tyler should be able to generate organic revenue growth of 9%-10% on an annual basis and supplement that with continued acquisitions, the analyst tells investors in a research note. With a solid and growing market share, continued investments in product development, a strong reputation within the niche, and an accretive M&A program, Tyler can continue to post solid growth in revenue and earnings over the long-term, the firm added.