Tyler Technologies Q2 Preview: Growing Subscription And Payment Solutions

Tyler Technologies, Inc. has strong organic growth, a large public sector customer base, and significant cross-selling and payment market opportunities. The company's SaaS transition and recurring revenue model are driving margin expansion, with impressive recent financial results and robust project pipelines. Despite these positives, I find TYL stock significantly overvalued, justifying my continued Strong Sell rating and a fair value estimate of $339 per share.