Tyler Technologies, Inc. - TYL STOCK NEWS

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.

Tyler Technologies and NIC Inc. have announced a definitive agreement for Tyler to acquire all outstanding shares of NIC in a cash transaction valued at approximately $2.3 billion. This acquisition aims to enhance Tyler's digital service offerings and expand its market presence. The deal is expected to accelerate Tyler's growth in delivering technology solutions to government entities, leveraging NIC's existing platforms. The acquisition is anticipated to close in the second quarter of 2021, subject to regulatory approvals and customary closing conditions.

Tyler Technologies (NYSE: TYL) announced the creation of a Corporate Operations team to advance its cloud strategy, enhancing support for public sector clients transitioning to cloud solutions. The team, led by COO Jeff Puckett, will focus on cloud operations, corporate development, and information security. Key initiatives include driving cloud adoption, developing migration plans for clients, and managing cloud-focused projects. This move aligns with growing demand for cloud services among government agencies, especially post-pandemic, emphasizing efficient operations and secure service delivery.

Tyler Technologies (NYSE: TYL) announced that the Brownsville and Laredo Police Departments in Texas have chosen Tyler’s New World public safety solutions and Socrata data platform to enhance data-driven policing. The Brownsville Police Department is replacing a legacy system with Tyler’s advanced analytics technology, aimed at improving resource management and inter-agency communication. Laredo Police will also utilize these solutions, along with the Brazos eCitation system, to improve transparency and efficiency. These collaborations signify Tyler's commitment to public safety technology across Texas.

Tyler Technologies, Inc. (NYSE: TYL) will present its fourth quarter 2020 results via a conference call on February 11, 2021, at 10 a.m. ET. Hosted by CEO H. Lynn Moore Jr. and CFO Brian K. Miller, the results will be disclosed following market close on February 10, 2021. Interested participants can pre-register for the call or join via direct dial. A replay will be accessible until February 18, 2021. Tyler Technologies provides integrated software for public sector clients, with over 27,000 installations globally.

Tyler Technologies (NYSE: TYL) has secured a $98 million agreement with the Texas Office of Court Administration to extend the eFileTexas electronic filing solution through August 2027. This partnership aims to enhance e-filing capabilities across Texas's 254 counties, with options for further extensions. The upgraded system will introduce advanced administrative tools and reporting functionalities, building on a successful history that includes the first statewide civil e-filing launch in the U.S. in 2015. The eFileTexas platform boasts over 425,000 users and has saved 420 million pages of paper.

Tyler Technologies (NYSE: TYL) has secured a $17.9 million agreement with Jackson County, Missouri, to provide CLT Appraisal Services and its iasWorld CAMA software. The initiative involves a complete reappraisal of all county properties over the next two years. The county chose Tyler’s solution for its user-friendliness and strong track record. Tyler’s specialized team will conduct thorough inspections and data collection to ensure accurate property evaluations.