Enterprise Software / Public Sector Digital Solutions
Strategic Profile
Tyler is the runaway market leader seeking to upgrade a large and underserved local government and related public institution market ripe for modernization. Total ARR reached $2.05 billion, up 10.7%, with half the installed base still on-premise and substantial conversion runway remaining. The company is leveraging a strategic collaboration agreement with Amazon Web Services for cloud hosting services.
Cyborg Score Rationale
CFO projected SaaS revenue growth of approximately 20% and total recurring revenue growth within their long-term target range of 10-12% for 2026. Non-GAAP operating margins expanded to 26.6%, up 120 basis points year-over-year. However, recent stock decline reflects concerns around slower government software spending and project overruns.
Top Insights
February 2026: Tyler agreed to acquire For The Record, a digital court-recording pioneer, for enterprise value of $258 million
Q3 delivered 9.7% total revenue growth with SaaS up 20%, and total ARR of $2.05 billion, up 10.7%
In 2025, Tyler completed four strategic acquisitions including CloudGavel and Edulink, spending about $54 million in Q4
According to 13 analysts, average rating is "Strong Buy" with 12-month target of $520.85, representing 71.37% upside from latest price
Named Competitors
CGI Advantage — Public sector IT solutions and management
Salesforce Government Cloud — Cloud-based government enterprise solutions
Infosys — Digital transformation services for public sector
Recent Developments
(February 2026) Acquisition of For The Record, digital court-recording provider