Welcome to our dedicated page for Tyler Technologies news (Ticker: TYL), a resource for investors and traders seeking the latest updates and insights on Tyler Technologies stock.
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) has acquired Arx, a cloud-based platform that enhances law enforcement capabilities. This acquisition integrates Arx’s offerings, Arx Alert and Arx Community, into Tyler’s public safety software suite. The tools aim to improve police transparency, accountability, and community engagement. Tyler’s president emphasized the aim to build community trust and ensure safety through integrated public safety solutions. Arx’s management will join Tyler’s Public Safety Division, with operations centered in Michigan.
Tyler Technologies (NYSE: TYL) will attend five investor conferences in September 2021, hosting virtual sessions. Notable events include the Wolfe Research Conference on September 8, where Brian Miller will participate in a fireside chat, and the Deutsche Bank Technology Conference on September 10. All discussions, other than the Morningstar conference, will be live-streamed. Tyler Technologies provides software solutions for public sector entities, with over 27,000 installations across various regions.
Tyler Technologies (NYSE: TYL) has successfully completed the acquisition of VendEngine, a cloud-based software provider focused on financial technology within the corrections market. This strategic move aims to enhance technological innovation and expand offerings for incarcerated individuals and their families. The integration will leverage VendEngine’s existing services, which include free communication tools for inmates, to better serve local and state governments. VendEngine operates in over 230 counties across 32 states, enhancing Tyler's presence in the corrections sector.
Tyler Technologies (NYSE: TYL) announced a two-year contract extension with Idaho for digital government and payments services, building on a 22-year partnership. NIC, Tyler’s subsidiary, currently offers over 500 digital services to 371 government entities in Idaho, processing more than 8 million transactions. NIC has seen significant growth in online services, particularly through the DMV portal. Elizabeth Proudfit, president of NIC, emphasized the increasing demand for secure digital services and expressed gratitude for Idaho's continued trust in NIC.
Tyler Technologies (NYSE: TYL) secured a five-year agreement with the Administrative Office of the Illinois Courts (AOIC) to enhance the eFileIL electronic filing system. This contract, valued at approximately $63 million, expands services for remote access, benefiting both court users and legal professionals. Over 21 million filings have been processed since 2016, streamlining operations and reducing physical court visits. The agreement will also leverage Tyler's Socrata® data platform to provide improved data reporting and analysis, enhancing overall judicial efficiency.
Tyler Technologies (NYSE: TYL) announced that New Hanover County Schools is the first district in North Carolina to implement its Munis® ERP solution as part of the state's School Business System Modernization program. This designation confirms Tyler’s compliance with state standards as an approved vendor, supporting operational efficiency and transparency for the district's $10 billion education budget. The solution includes financial and HR workflows, data management, and disaster recovery features. To date, 28 school districts have partnered with Tyler on this initiative.
Tyler Technologies (NYSE: TYL) has launched its Modria® online dispute resolution solution in the Idaho Supreme Court, aiming to manage the anticipated surge in eviction cases following the federal eviction moratorium expiration on July 31. Modria will streamline communication, inform citizens about rent relief programs, and potentially prevent eviction judgments. This initiative prioritizes increasing access to justice and alleviating the court's workload in Ada County, with plans for future expansion across Idaho.
Tyler Technologies reported strong second quarter 2021 results, marking a 49.1% revenue increase to $404.1 million compared to Q2 2020. This growth was significantly influenced by the acquisition of NIC Inc. for $2.3 billion, which expanded its digital government solutions portfolio. Recurring revenues rose 57.7% to $319.2 million, constituting 79% of total revenue. However, net income declined 52.6% year-over-year to $25.5 million. The company's cash flows from operations were negative $20.3 million, attributed to acquisition-related costs. For 2021, Tyler expects GAAP revenues between $1.532 billion and $1.557 billion.
FAQ
What is the current stock price of Tyler Technologies (TYL)?
What is the market cap of Tyler Technologies (TYL)?
What does Tyler Technologies, Inc. do?
Where is Tyler Technologies headquartered?
What are the core products of Tyler Technologies?
How many clients does Tyler Technologies have?
Has Tyler Technologies received any notable recognition?
What additional services does Tyler Technologies offer?
Is Tyler Technologies an equal opportunity employer?
How does Tyler Technologies impact local governments?
Where can I find more information about Tyler Technologies?
