Tyler Technologies, Inc. - TYL STOCK NEWS

Tyler Technologies (NYSE: TYL) has successfully implemented its Munis® enterprise resource planning (ERP) and ExecuTime™ time & attendance solutions for Marin County, California, enhancing operational efficiency for over 2,000 employees. Key upgrades include replacing paper-based timesheets with electronic ones, launching online access portals for employees and vendors, and streamlining employee information management. Tyler’s solutions aim to reduce costs and enhance payroll processes while facilitating better management of time-off requests and attendance.

Tyler Technologies (NYSE: TYL) announced the successful implementation of its Odyssey court case management solutions at the Superior Court of California, Mendocino County. The project was completed remotely, on time, and within budget, enhancing court workflows and enabling secure electronic document filing. The court aims to optimize communication with justice partners and transition towards a paperless environment. Tyler's technology solutions serve a significant portion of California, with plans to further integrate with local justice agencies later this year.

Tyler Technologies (NYSE: TYL) has secured a multi-year SaaS agreement with Tigard, Oregon, to provide several integrated solutions including Munis ERP, EnerGov civic services, and more. Initially seeking an advanced asset management solution, the city opted for a broader suite due to its potential for enhanced integration and productivity. This partnership aims to improve workflow through better asset reporting, communication with residents, and reduced data entry. Tyler's solutions align with its Connected Communities vision, promising increased transparency and efficiency for local government operations.

Tyler Technologies (NYSE: TYL) announced the pricing of $525 million in 0.25% convertible senior notes due 2026, offered to qualified institutional buyers. The Notes' issuance settles on March 9, 2021, with a potential additional $75 million purchase option. The interest is payable semi-annually, and holders may convert the Notes to common stock starting September 15, 2025. Net proceeds are estimated at $516.6 million, intended for an acquisition of NIC Inc. and related expenses. The offering is not registered under the Securities Act.

Tyler Technologies (NYSE: TYL) announced that Collin County, Texas, has successfully implemented the Tyler Jury Manager system, streamlining jury selection processes for its courts. This transition was essential as the county faced an overwhelming jury management workload. The new solution enables efficient communication with jurors via text and email, reducing paperwork and improving overall jury management. Collin County, a growing region in the Dallas-Fort Worth area, utilizes multiple Tyler products and emphasizes technological innovation in its operations.

Tyler Technologies plans to offer $1 billion of convertible senior notes due 2026 and $600 million due 2028 in a private offering for qualified institutional buyers. The offering may be increased by up to $150 million for the 2026 Notes and $90 million for the 2028 Notes. Proceeds will fund the acquisition of NIC Inc. and cover related expenses. The notes are unsecured and accrue interest paid semi-annually, with a conversion option for holders. The offering will not be registered under the Securities Act. Tyler aims to enhance government operations with integrated software solutions.

Tyler Technologies (NYSE: TYL) has successfully implemented Tyler Corrections in Champaign County, Illinois, enhancing the management of adult and juvenile corrections. The upgrade was necessary due to the discontinuation of support for the previous jail management system. Champaign County has reported improved navigation, enhanced booking checklists, and better data accuracy, resulting in increased safety for inmates and staff. The solution facilitates efficient data sharing among local law enforcement and court systems, marking a significant step towards comprehensive justice solutions.

Tyler Technologies (NYSE: TYL) has signed a SaaS agreement with the city of Jacksonville, Florida, to implement its EnerGov civic services suite. This solution aims to enhance the city’s business and community development activities by enabling efficient electronic plan reviews and improving connectivity through a citizen self-service portal. Jacksonville, the largest U.S. city by area and 12th most populous, seeks to replace its existing application to better serve its growing population. The new system will automate various city operations, providing residents with easier access to information and improving overall government transparency.

Tyler Technologies (NYSE: TYL) reported its fourth quarter 2020 financial results, showing total revenues of $283.3 million, a decrease of 1.9% from Q4 2019. Recurring revenues grew by 9.5% to $212.4 million, making up 75% of total earnings. Net income rose 15.6% to $54.1 million, or $1.29 per diluted share. Full year revenues reached $1.117 billion, a 2.8% increase, with net income up 33% to $194.8 million. For 2021, TYL expects revenues to be between $1.190 billion and $1.220 billion, with non-GAAP EPS projected between $5.65 and $5.77.