Tyler Technologies' Strong Financial Performance and Strategic Growth Justify Buy RatingWe attribute the outperformance to accelerating cloud adoption, favorable revenue mix, and strong expense management. SaaS momentum also remained healthy, underscoring consistent new-logo activity and on-premises conversions. The recurring revenue growth of 10.7% continues to validate Tyler’s transition toward a predictable, high-margin model driven by SaaS and transaction revenues, which now comprise nearly two-thirds of total recurring revenue.