Tyler Technologies price target raised to $560 from $510 at Truist

Truist raised the firm’s price target on Tyler Technologies to $560 from $510 and keeps a Buy rating on the shares. The firm believes that the demand for Tyler’s government best-of-breed solutions remains robust, and its customers are increasingly focused on leveraging their tech tools better to generate unique insights and automate repetitive processes, the analyst tells investors in a research note. Customers are also increasingly aligned with Tyler’s cloud first strategy and understand the benefits associated with moving to cloud including increased data security, continuous updates, and enhanced data analytics capabilities, the firm added.