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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.
SafeGraph has announced a partnership with Tyler Technologies, enhancing the Tyler Recovery Insights solution for municipal and state governments. This collaboration will provide access to SafeGraph's extensive database of over 8 million points of interest (POIs) and foot traffic data, offering critical insights into economic recovery. The integrated solution aims to assist public sector leaders in understanding business dynamics and consumer activity during the recovery phase post-COVID-19. Key stakeholders emphasized the importance of this data for informed decision-making.
Tyler Technologies (NYSE: TYL) has announced that Bexar County, Texas, has officially implemented Tyler's Odyssey court case management and SoftCode civil process solutions. This transition from a legacy mainframe system after 38 years marks a significant advancement in operational efficiency for the county. These solutions streamline processes, allowing for a paperless system, improving accuracy, and supporting integration with state reporting systems. The implementation was successful and cost-effective due to its cloud-based nature, eliminating infrastructure costs.
Tyler Technologies (NYSE: TYL) updated its 2021 financial guidance following the acquisition of NIC Inc. This includes a projected GAAP revenue of $1.507 to $1.537 billion and non-GAAP revenue of $1.510 to $1.540 billion. NIC is expected to contribute approximately $310 million in non-GAAP revenue, with significant COVID-related impacts estimated at $57 million. GAAP EPS is forecasted between $3.58 and $3.74, with non-GAAP EPS ranging from $6.65 to $6.77. The company anticipates total capital expenditures of $40 million to $42 million and a pretax share-based compensation expense of around $100 million.
Tyler Technologies (NYSE: TYL) announced an agreement to acquire VendEngine for approximately $84 million in cash. This acquisition aims to enhance Tyler's offerings in the corrections market, serving over 300 facilities across 32 states. VendEngine is known for its innovative financial technology solutions that support incarcerated individuals and their families through services like digital messaging and educational opportunities. The transaction is expected to close in Q3, bringing significant growth potential and innovation to Tyler's corrections suite.
Tyler Technologies (NYSE: TYL) will share its fiscal year 2021 financial guidance and updates on the acquisition of NIC Inc. during a conference call on June 7, 2021. Hosted by CEO H. Lynn Moore Jr. and CFO Brian K. Miller at 10:00 a.m. ET, the event will be accessible via pre-registration or direct dial-in. A replay will be available until June 14, 2021. Tyler Technologies, established in Plano, Texas, provides integrated software and technology services for public sector entities, with over 27,000 installations in 11,000 sites worldwide.
Tyler Technologies (NYSE: TYL) has announced that the city of Amarillo, Texas, has successfully implemented the EnerGov civic services solution. This deployment includes the EnerGov citizen self-service solution, workforce applications, Tyler Content Manager, Tyler Cashiering, and electronic plan reviews. The initiative aims to enhance citizen access to information and improve inter-department connectivity. Initial benefits include reduced application processes, improved transparency, and more efficient resource management, making it easier for residents to engage with city services.
Tyler Technologies (NYSE: TYL) has secured a multi-year SaaS agreement with the city of Fresno, California, to implement its Munis® enterprise resource planning (ERP) solution. This agreement aims to improve financial management, human resources, utility billing, and streamline city operations through an integrated system. Fresno officials emphasized the need for modernization to enhance efficiency and transparency in their operations. The Munis solution will enable easier access to information, efficient workflows, and accountability among staff, ultimately benefiting the community.
Tyler Technologies (NYSE: TYL) announced that its redesigned Expresslane.org website, developed by NIC Louisiana, received two international awards: gold at the Hermes Creative Awards and silver at the MUSE Creative Awards. The site enhances government interactions for Louisiana citizens, offering services such as vehicle registration and driver's license renewals. Since its relaunch in January 2021, Expresslane.org has set new user records in January and March, indicating a significant improvement in digital experience for users.
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