Tyler Technologies Investor Day Takeaways: 2030E Targets Raised as Cloud Living & AI Monetization Take Center Stage

研报英文原文证据摘录

Tyler Technologies Investor Day Takeaways: 2030E Targets Raised as Cloud Living & AI Monetization Take Center Stage

J P M O R G A N North America Equity Research

09 June 2026

Tyler Technologies Overweight

TYL, TYL US

Investor Day Takeaways: 2030E Targets Raised as Price (08 Jun 26):$303.77

Cloud Living & AI Monetization Take Center Stage

Vertical SaaS & HealthTech

Alexei Gogolev AC

(1-212) 622-9391

alexei.gogolev@jpmorgan.com

Isabella A Camaj

(1-212) 834-2379

bella.camaj@jpmorgan.com

Today, we attended Tyler’s Investor Day in Frisco, TX. Speakers included Lynn

Ella Smith

Moore (CEO), Brian Miller (CFO), Russell Gainford (CTO), Liz Thomas

(1-212) 622-2451

(President, State & Federal), and Franklin Williams (recently appointed Chief AI ella.smith@jpmchase.com

Officer). Importantly, this was the first Investor Day hosted by Tyler since 2023 – Destiny Jackson

three years later, management brought a myriad of updates on cloud migration / (1-212) 622-4360

“cloud living,” AI strategy (incl. Tyler Foundry), transactions strategy, and capital destiny.jackson@jpmorgan.com

allocation/updated 2030 financial targets. Importantly, peak cloud migration J.P. Morgan Securities LLC

remains broadly unchanged (likely by early 2028, when TYL is hoping to see the

majority of its customers come up with migration plans and begin to execute them).

We walk away from today’s Investor Day with increased confidence around

Tyler’s ability to execute on its key growth pillars, cloud migration trajectory,

2030E targets, and AI monetization opportunity.

• 2030E Guidance, Revisited. Tyler announced raises to its 2030E targets

previously issued at the 2023 Investor Day (Figure 12030EGuidanceComparison(Isuedin2023vs.Isuedin2026)). Notably, management