if '00:00:08'<=time<='09:00:00' then time_new='Before 9 A.M.'
Else IF '09:01:00'<=time<='12:00:00' then time_new='Before Noon'
Else IF '12:01:00'<=time<='17:00:00' then time_new='After Noon'
Else IF '17:01:00'<=time<='21:00:00' then time_new='Evening'
Else IF '21:00:01'<=time<='24:00:00' then time_new='Evening';
On the topic of using a "time value" constant, review the SAS doc on the topic here:
Google advanced search argument: time value constant site:sas.com
Also, regarding the truncated post, you will need to "edit your existing post" (see the EDIT icon adjacent to the REPLY link), and review this related post on limits with certain data characters (recommend bookmarking the link for future reference).