DA Davidson downgraded Tyler Technologies to Neutral from Buy with an unchanged $395 price target. The company’s Q1 earnings were "nicely above" expectations but the stock is now trading at a "modest premium" to long-term averages, the analyst tells investors in a research note. Several short-term headwinds that were first outlined on the Q4 earnings call also continued to pressure margins in Q1, the firm added.
Published first on TheFly
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