Tyler Technologies price target lowered to $675 from $775 at Truist

Truist analyst Terry Tillman lowered the firm’s price target on Tyler Technologies (TYL) to $675 from $775 but keeps a Buy rating on the shares. The company’s Q3 results were solid but commentary from the call was more important, with Tyler confident in driving durable SaaS, subscription, and overall recurring revenue growth while consistently expanding profits and cash flow, the analyst tells investors in a research note. The firm adds its reduced price target reflects more conservative long-term revenue CAGR view of 12% vs. 14% prior.