UPDATE: Goldman Sachs Starts Tyler Tech (TYL) at Neutral

Goldman Sachs analyst Gabriela Borges initiates coverage on Tyler Tech (NYSE: TYL) with a Neutral rating and a price target of $322.00.

The analyst comments "We initiate on Tyler Technologies with a Neutral rating and 10% upside to our 12-month price target of $322 (vs. 36% upside for our broader coverage group). We view Tyler Technologies as well positioned to deliver on consistent ~10% revenue growth over the long term, given a well-defined runway to benefit from technology adoption and share gain in government applications (from <10% penetration today). Nonetheless, we initiate with a Neutral rating and look for visibility into the health of the government end market (while budgets are solid today, they could fade post stimulus, and projects may become less predictable regardless of budgets) and Tyler's longer-term financial profile post the transition to cloud."

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 $292.02 yesterday.

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