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Tyler Technologies, Inc. (NYSE: TYL) is a prominent provider of comprehensive information management solutions tailored for local government entities. Established in Plano, Texas, Tyler Technologies is on a mission to enhance the efficiency, accessibility, and responsiveness of public sector organizations, including cities, counties, schools, and courts.
With a client base that spans over 14,000 local government offices across all 50 states, Canada, the Caribbean, the United Kingdom, and other international locations, Tyler Technologies is at the forefront of empowering public administration. The company’s flagship products include:
- Munis: Tyler’s core Enterprise Resource Planning (ERP) system designed to integrate various administrative operations and enhance financial management.
- Odyssey: A robust Court Management System (CMS) that streamlines judicial processes and improves case management efficiency.
- Payments: A versatile platform facilitating seamless financial transactions and payment processing.
Beyond these core offerings, Tyler Technologies provides a diverse array of add-on modules and outsourced services, such as property tax assessment, to meet the unique needs of its clients. The company's dedication to innovation and consistent performance has earned it a spot on Forbes' list of “America’s Best Small Companies” eight times and inclusion in the Barron's 400 Index, recognizing the most promising companies in America, six times.
Tyler Technologies continues to drive advancements in public sector software, forming strategic partnerships and undertaking significant projects to modernize government operations. The company's solutions are designed to foster transparency, improve citizen engagement, and support the evolving demands of governmental bodies. For the latest updates, financial performance, and news about Tyler Technologies, visit their official website at www.tylertech.com.
Tyler Technologies (NYSE: TYL) will attend two investor conferences in June 2022. Brian Miller, CFO, will engage in a fireside chat at the Baird 2022 Global Consumer, Technology & Services Conference on June 8 at 8:30 a.m. ET. On June 9 at 10:00 a.m. CT, CEO Lynn Moore will present at the William Blair 42nd Annual Growth Stock Conference, joined by Miller. Both events include opportunities for one-on-one meetings. A live webcast of the Blair presentation will be available on Tyler's investor website.
Tyler Technologies, Inc. (NYSE: TYL) has acquired Quatred, a systems integrator focused on touchless technologies, enhancing Tyler's barcoding solutions across its platforms. This acquisition strengthens Tyler’s existing partnership with Quatred, which began in 2018, and aims to deliver a unified barcoding experience for clients. With over 150 public sector clients already utilizing Tyler’s ERP solutions, the move is expected to drive significant growth opportunities in inventory management and public sector services.
Tyler Technologies (NYSE: TYL) has partnered with Harrisburg, Pennsylvania, to implement its Enterprise ERP solution, replacing three outdated city systems. The comprehensive suite includes financial and human capital management tools, aimed at enhancing operational efficiency and transparency. With cloud hosting, the ERP system will streamline processes, reduce IT burdens, and provide better accessibility. The initiative, praised by Mayor Wanda R. D. Williams, is expected to modernize city operations that have lagged for decades, ultimately improving service to the public.
Tyler Technologies, Inc. (NYSE: TYL) has signed an agreement with Suisun City, California, to implement several solutions, including ERP Pro and Enterprise Permitting. This initiative aims to replace an outdated ERP system, centralizing services to improve efficiency. The city anticipates benefits such as streamlined operations and enhanced remote work capabilities. Tyler's ERP Pro offers over 50 integrated modules, facilitating better service delivery and transparency within city operations. This contract enhances Tyler's position in the public sector software market.
Tyler Technologies (TYL) reported first-quarter 2022 financial results, revealing total revenues of $456.1 million, a 54.7% increase year-over-year. Organic revenue growth stood at 12.8%. Recurring revenues comprised 79.5% of total revenue, amounting to $362.5 million, up 63.6%. Operating income rose 46.2% to $55.9 million, while net income increased to $40.0 million, or $0.94 per diluted share. However, cash flows from operations declined 25.3% to $53.5 million. Full-year guidance indicates total revenues between $1.835 billion and $1.870 billion, including $40 million from COVID-related revenues.
Tyler Technologies (NYSE: TYL) has signed an agreement with the Utah Department of Public Safety for its comprehensive public safety suite. The suite includes components such as Mobile, Field Mobile, and Public Safety Analytics aimed at addressing challenges in records, investigations, and patrol.
The new system will enhance mobility, streamline approval processes, and provide a unified data source for analytics. This partnership seeks to improve operational efficiency and promote better community safety.
Tyler Technologies (NYSE: TYL) announced the successful implementation of its Enterprise Justice suite at Shreveport City Court in Louisiana, enabling enhanced administration and efficiency in court operations. The transition from a legacy system to integrated technology is expected to streamline document processing and improve community access via a web portal. Furthermore, the city jail is also set to adopt Tyler’s solutions, marking an integration of court and jail systems for improved information sharing and operational safety.
Tyler Technologies (NYSE: TYL) has secured a three-year extension of its payment services contract with Texas, enhancing a 13-year partnership. This agreement integrates Tyler's Data & Insights platform, facilitating advanced analytics for payment processing. Since September 2018, Tyler's NIC Division has processed over 73.5 million transactions worth more than $5.69 billion for the state. The secured services include Level 1 PCI compliance and comprehensive transaction management, streamlining government interactions for over 306 entities in Texas.
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