Tyler Technologies misses quarterly revenue estimates

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Tyler Technologies missed Wall Street estimates for third-quarter revenue on Wednesday, as the IT service provider faces stiff competition from bigger firms in an uncertain economy.

The company provides integrated information management services for the public sector and competes with Thomson Reuters, Oracle and Motorola Solutions among others that offer similar services for the government sector.

State and local government application and vertical specific software spending is expected to grow from $27 billion this year to $41.8 billion in 2026 globally, research and advisory firm Gartner told Reuters on Wednesday.

 

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