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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.
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Tyler Technologies, Inc. (TYL) reported impressive financial results for the fourth quarter of 2023, with total revenues of $480.9 million, up 6.3%. Recurring revenues were $403.6 million, up 7.9%, with SaaS revenues growing significantly by 21.7%. The company's GAAP net income was $38.9 million, or $0.91 per diluted share, up 25.2%. Tyler Technologies also completed acquisitions of ResourceX and ARInspect during the quarter. Full-year 2023 revenues were $1.952 billion, up 5.5%, with recurring revenues at $1.63 billion, up 9.8%. SaaS revenues grew by 23.2%. The company provided optimistic guidance for 2024, expecting total revenues in the range of $2.095 billion to $2.135 billion.
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Tyler Technologies, Inc. (TYL) signs an eight-year agreement with the California Department of Parks and Recreation to enhance the state park reservation system using Tyler's Outdoor Recreation solution. The agreement aims to provide a seamless digital experience for park visitors, streamline transactions, and improve overall visitor experience. Tyler's partnership with California State Parks since 2016 demonstrates a commitment to creating equitable access to the outdoors.
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Tyler Technologies, Inc. (NYSE: TYL) has signed a five-year agreement with the Idaho Supreme Court to transition its Enterprise Case Manager solution to Tyler’s SaaS deployment. This transition will bring better security, flexibility, and stability to the state's court administration. The migration to Tyler’s SaaS offering across 44 counties and 200 courtrooms will eliminate the need for the ISC to manage servers and perform backups, enabling them to focus on other mission-critical technology matters and business operations. The SaaS solution will also provide increased protection against natural disasters and security threats. The state of Idaho, with a population of roughly 1.9 million, will benefit from these improvements.
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Tyler Technologies, Inc. (NYSE: TYL) has expanded its eight-year Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS) to enable its clients and public sector agencies to move to the cloud more easily. The collaboration aims to streamline migrations from on-premises solutions to Tyler’s next-generation cloud applications, providing better experiences for citizens and public sector employees. This move supports Tyler’s vision to complete its transition to the cloud by 2030.
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Tyler Technologies, Inc. (TYL) will hold a conference call and webcast to discuss its Q4 2023 results on Feb. 15, 2024. The teleconference, hosted by the president and CEO, and the executive vice president and CFO, will provide access to the live audio webcast and archived replay on the company's investor relations website. Participants can pre-register for the teleconference and will receive an email with access details.
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Tyler Technologies, Inc. (NYSE: TYL) has been recognized as a GovTech 100 company for 2024, marking the eighth consecutive year. The annual list is published by Government Technology magazine and recognizes companies focused on making a difference in state and local government agencies across the United States.
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Tyler Technologies, Inc. (NYSE: TYL) has signed an agreement with the Rhode Island Department of Business Regulation for its State Regulatory Platform suite, which includes licensing, inspection, and enforcement applications. The suite will streamline the processing and management of over 100 license types in various industries, providing increased security and stability by deploying in the cloud. The Rhode Island DBR, a Tyler client since 2012, will benefit from additional integrated capabilities of the product.
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Tyler Technologies, Inc. (NYSE: TYL) announced that the city of Edina, Minnesota, has successfully implemented Tyler’s Enterprise Environmental Health (EEH) solution. The city has seen early benefits like more streamlined licensing and Environmental Health inspection processes. The EEH solution has brought several benefits and new capabilities to the city, including improved business workflows, easy management of operational permits for businesses, and automated emails to business owners for application receipt, invoicing, and renewals.
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Tyler Technologies, Inc. (NYSE: TYL) has launched Reserve.Wyoming.gov, a new reservation site with enhanced user experience for Wyoming State Parks. The site offers detailed, interactive maps, text and email reminders, and a call center for assistance. Wyoming residents can book up to 120 days in advance for $4, and non-residents for $8. Annual day use passes are discounted until Feb. 15. Tyler's recreation management software is being used by leading tourism states like Florida.
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Tyler Technologies, Inc. (NYSE: TYL) will be represented by Brian Miller, the executive vice president and chief financial officer, at two investor conferences in January and February 2024. The Needham Annual Growth Conference will take place on January 17 at the Lotte New York Palace Hotel, followed by the Wolfe Research “March Madness” Software Conference on February 28 at the Wolfe Research offices in New York City. Brian Miller will participate in fireside chats, one-on-one meetings, and group meetings at both events.
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FAQ
What is the current stock price of Tyler Technologies (TYL)?
The current stock price of Tyler Technologies (TYL) is $605.42 as of December 20, 2024.
What is the market cap of Tyler Technologies (TYL)?
The market cap of Tyler Technologies (TYL) is approximately 25.7B.
What does Tyler Technologies, Inc. do?
Tyler Technologies provides information management solutions and services for local governments, including software for cities, counties, schools, and courts.
Where is Tyler Technologies headquartered?
Tyler Technologies is headquartered in Plano, Texas.
What are the core products of Tyler Technologies?
The core products of Tyler Technologies include Munis (an ERP system), Odyssey (a court management system), and a payments platform.
How many clients does Tyler Technologies have?
Tyler Technologies serves over 14,000 local government offices across various regions including the United States, Canada, the Caribbean, and the United Kingdom.
Has Tyler Technologies received any notable recognition?
Yes, Tyler Technologies has been named one of 'America’s Best Small Companies' by Forbes eight times and has been included in the Barron’s 400 Index six times.
What additional services does Tyler Technologies offer?
In addition to its core software solutions, Tyler Technologies offers add-on modules and outsourced property tax assessment services.
Is Tyler Technologies an equal opportunity employer?
Yes, Tyler Technologies is an equal opportunity employer, providing consideration to all qualified applicants without regard to race, creed, gender/sex, marital status, or sexual orientation.
How does Tyler Technologies impact local governments?
Tyler Technologies enhances the efficiency, accessibility, and responsiveness of local governments through its software solutions, improving operations and citizen engagement.
Where can I find more information about Tyler Technologies?
More information about Tyler Technologies can be found on their official website at www.tylertech.com.
Tyler Technologies, Inc.
NYSE:TYL
TYL Rankings
TYL Stock Data
25.65B
42.57M
0.53%
93.64%
1.61%
Software - Application
Services-prepackaged Software
United States of America
PLANO