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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 participate in four investor conferences in May and June 2021. These events include:
- Needham Virtual Technology & Media Conference on May 18
- William Blair Virtual Growth Stock Conference on June 2
- Evercore ISI TMT Conference on June 8
- Baird Global Consumer, Technology & Services Conference on June 10
Live webcasts for all discussions, except for the Baird conference, will be available on their investor presentation site.
NIC Utah has requested the cancellation of their press release regarding the redesign of Utah.gov, titled “Utah.gov Redesign Helps Utahns Conduct State Business Easily.”
This press release was issued in error, and NIC Utah has clarified that no replacement release will be distributed.
Tyler Technologies (NYSE: TYL) has announced the redesign of Utah's official website, Utah.gov. This update enhances user experience by providing quicker access to information and services, aided by a new chatbot named 'Porter'. The redesign focuses on users, especially younger adults, ensuring a more intuitive interface. The site attracted over 2.3 million visitors in 2020 and has garnered more than 280 awards for its digital services. NIC Utah, a subsidiary of Tyler, led the redesign project, emphasizing improved digital interactions between residents and government.
Tyler Technologies (NYSE: TYL) has secured a five-year, $7.8 million contract with Cobb County, Georgia, for its CLT Appraisal Services and Assessment Connect solution. This agreement covers the valuation of all commercial properties in Cobb County, totaling over 13,800 properties worth more than $30 billion. The project aims to maintain fair market values and includes an additional tool for real-time data analysis. This collaboration reflects Tyler's continued relationship with Cobb County, enhancing their appraisal and assessment capabilities.
Tyler Technologies (NYSE: TYL) reported its Q1 2021 results with total revenues of $294.8 million, a 6.6% increase from Q1 2020. Recurring revenues surged 13.0% to $221.6 million, making up 75.2% of total revenue. Operating income grew 12.7% to $38.2 million, while net income decreased 22.2% to $37.0 million or $0.88 per diluted share. The company achieved cash flows from operations of $71.7 million, up 26.4%. Tyler also completed strategic acquisitions, including NIC, enhancing its market positioning.
Tyler Technologies (NYSE: TYL) announced the launch of the redesigned Kansas Board of Accountancy (KBOA) website, aimed at enhancing user experience and providing faster access to services. This upgrade was achieved through a public-private partnership, incurring no costs to taxpayers. The new site features a modern layout, improved accessibility across devices, and retains the iconic 'waving wheat' animation. The project highlights Tyler's commitment to modernizing government services and empowering public sector efficiency.
Tyler Technologies (NYSE: TYL) has successfully acquired NIC Inc. (NASDAQ: EGOV), a prominent digital government solutions provider serving over 7,100 agencies nationwide. This acquisition enhances Tyler's capabilities to provide innovative platform solutions for federal, state, and local governments, addressing high demand for efficient services. NIC processed over $24 billion in payments in 2020, boosting Tyler's strategic payment initiatives. NIC's CEO, Harry Herington, is retiring, while NIC's leadership will remain for smooth integration. Advisors include Goldman Sachs for Tyler and Cowen & Company for NIC.
Tyler Technologies (NYSE: TYL) has joined the IMS Global Learning Consortium as a contributing member, aiming to enhance educational technology interoperability. This membership allows Tyler to lead initiatives that improve K-12 schools’ data management through student information systems (SIS). Tyler is committed to promoting open standards for education technology, which will facilitate better integration among various software systems. The IMS Global community includes over 620 members, highlighting Tyler's significant role in advancing digital transformation in education.
Tyler Technologies (NYSE: TYL) will announce its first quarter 2021 results on April 29, 2021, at 10 a.m. ET during a teleconference led by CEO H. Lynn Moore Jr. and CFO Brian K. Miller. The press release will be available post-market close on April 28, 2021. Participants can pre-register via a provided link or dial in directly for the call. A replay will be accessible starting one hour after the call and will run until May 6, 2021. Tyler Technologies provides integrated software solutions for government entities, leveraging over 27,000 successful installations worldwide.
Tyler Technologies (NYSE: TYL) has launched the EnerGov Decision Engine, a web-based application designed to streamline the complex processes involved in understanding local ordinances, permits, and licenses. This user-friendly solution enables constituents to access necessary information quickly, such as land development and permit applications, while reducing the need for in-person visits to city hall. EnerGov Decision Engine integrates with Tyler's existing civic services and is currently utilized by over 600 municipalities across the U.S. and Canada.
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