Tyler Technologies price target raised to $630 from $545 at Loop Capital

Loop Capital raised the firm’s price target on Tyler Technologies to $630 from $545 and keeps a Buy rating on the shares. The company reported “solid” Q2 results featuring 6.5% total revenue growth, 23% SaaS revenue growth, and 24.5% operating margins, the analyst tells investors in a research note. Tyler is benefiting from a continuation of healthy trends in place – a robust public sector spending environment, accelerating shift to the cloud, favorable competitive standing, and undisputed category leadership in the space, the firm added.