Needham & Company Reiterates Buy After Meeting with Tyler Technologies (TYL) Management

Needham & Company reiterated a Buy rating and $160.00 price target on Tyler Technologies (NYSE: TYL) after meeting the company's management. TYL management commented that pipeline activity remains high and quite similar to its levels entering 2015.

Analyst Scott Berg commented, "We had the chance to meet with Tyler management, including CFO Brian Miller, last week at the company's Dallas HQ. Overall, we became more comfortable with our prior belief that the light 4Q bookings were a function of timing versus slowing end market demand as the company could have multiple opportunities to outperform bookings assumptions. We also got a better view into the product strategy for the newly acquired New World Public Safety and ERP platforms. We like the longer-term strategy for a single platform because we believe the opportunities for sales synergies should be plentiful, but more importantly the combined use case with its county-level Courts & Justice platform make a Tyler/New World purchase almost a "no-brainer" decision for local municipalities, in our view."

For an analyst ratings summary and ratings history on Tyler Tech click here. For more ratings news on Tyler Tech click here.

Shares of Tyler Tech closed at $121.37 yesterday.

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