Tyler Technologies Inc

TYL: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$167.00	Bky	Pgpnvkgx

Tyler Technologies Is Moving Beyond Just Modernizing Local Governments

Dan Romanoff

Oct 28, 2021

Business Strategy and Outlook

We view Tyler Technologies as the clear leader in a slow-moving and underserved niche market of government operational software. We believe there is a decadelong runway for normalized 10% top-line growth at Tyler, especially as demand for SaaS accelerates and the need to modernize local governments’ legacy enterprise resource planning systems intensifies.

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