Tyler Technologies price target lowered to $440 from $460 at Baird

Baird analyst Rob Oliver lowered the firm’s price target on Tyler Technologies to $440 from $460 and keeps an Outperform rating on the shares. The analyst likes the set-up heading into 2023 as well as the long-term sustainability/resilience. He believes that as they move through its model transition, 2024 could set-up to see accelerating subscription revenue and nice operating margin expansion, with trough margin expected in 2023.