Tyler Technologies: Strong SaaS Growth Cannot Justify Over 60x FCF; Rating Downgrade [Seeking Alpha]
Tyler Technologies, Inc. (TYL)
Last tyler technologies, inc. earnings: 4/29 04:17 pm
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US:NYSE Investor Relations:
investors.tylertech.com
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Source: Seeking Alpha
Play 7min Summary I downgrade Tyler Technologies to a 'Strong Sell' with a fair value of $350 per share due to overvaluation concerns despite strong SaaS growth. Tyler's SaaS revenue grew by 23.2% YoY, driven by public sector cloud migration, IT modernization, and enhanced AWS partnership. Projected 10.7% organic revenue growth in FY24, with significant contributions from SaaS, maintenance, and services segments, plus 1.4% from M&A. Upside risks include potential share buybacks and accelerated SaaS growth due to AI adoption, which could support high stock multiples. NoSystem images/E+ via Getty Images I presented my ‘Sell' thesis on Tyler Technologies ( NYSE: TYL ) in January 2024 due to my concern about the overvalued stock price. It is impressive to see the company continuing its high-single-digit organic growth despite a challenging macro environment. Tyler is experiencing accelerated growth in their SaaS subscriptions as the public sector begins moving workloads i
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TYL
News
- Tyler Technologies Announces 2024 Veterans Service Officers Excellence Award Winners [Yahoo! Finance]Yahoo! Finance
- Tyler Technologies Announces 2024 Veterans Service Officers Excellence Award WinnersBusiness Wire
- Tyler Technologies to Participate in November and December Investor Conferences [Yahoo! Finance Canada]Yahoo! Finance Canada
- Tyler Technologies to Participate in November and December Investor ConferencesBusiness Wire
- Tyler Technologies, Inc. (NYSE: TYL) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
TYL
Earnings
- 10/23/24 - Beat
TYL
Sec Filings
- 11/8/24 - Form 4
- 11/8/24 - Form 4
- 11/8/24 - Form 144
- TYL's page on the SEC website