Benchmark analyst Mark Schappel estimates that Tyler Technologies paid between $110M-$130M to acquire Socrata, a provider of analytics software for government agencies with a focus on enabling connected communities. He thinks the deal fits squarely within Tyler's strategy and complements its current offerings and views the transaction favorably. Schappel raised his price target on Tyler shares to $250 from $225 and reiterates a Buy rating on the shares.
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