Tyler Technologies added to DA Davidson Best-of-Breed Bison initiative

DA Davidson keeps a Neutral rating and $412 price target on Tyler Technologies while adding the stock to the firm’s Best-of-Breed Bison initiative that seeks to identify the highest quality companies with “strong competitive positioning and exceptional financials”. Tyler has generated an exceptional long-term record of growth, generating approximately 14%-15% compound annual growth in total revenue from 2000 to 2022, the analyst tells investors in a research note. The firm further note that Tyler serves a large market with a relatively small market share, and the unique demands of the public sector act as a barrier to entry for many of its horizontally focused competitors.