Tyler Technol Stock Price, News & Analysis

Tyler Technologies, Inc. (NYSE: TYL) has released its second annual corporate responsibility report, highlighting its efforts in environmental, social, and governance (ESG) initiatives amidst global challenges in 2020. Key achievements include generating $361,000 in grants through the Tyler Foundation, saving 2.4 million pounds of paper via paperless solutions, offering unlimited coronavirus paid time off, and earning recognition on Forbes’ lists for workplace diversity. The report emphasizes Tyler's commitment to corporate responsibility and outlines strategies for enhancing transparency and impact.

Tyler Technologies, Inc. (NYSE: TYL) has acquired ReadySub, a cloud-based platform for absence tracking and substitute management in school districts. This acquisition enhances Tyler's portfolio by integrating ReadySub's solutions with its existing school administration products. ReadySub serves around 1,000 districts, with 20 overlapping clients. The platform addresses substitute shortages exacerbated by the pandemic, simplifying the process of filling absences and integrating payroll functions. ReadySub's team will join Tyler’s Schools organization, continuing remote operations.

Tyler Technologies (NYSE: TYL) announced the acquisition of DataSpec, a leader in veterans’ claims management solutions. This strategic move strengthens Tyler's position in the market, enhancing its technology offerings with DataSpec’s VetraSpec platform, used by over 5,000 clients. DataSpec's software allows secure electronic claims submission to the VA, improving reporting and management for state departments. Tyler aims to leverage this acquisition to provide a modernized solution for veterans’ benefits, expanding its reach within VA departments across various states.

Tyler Technologies (NYSE: TYL) and NIC Inc. (NASDAQ: EGOV) announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, a step toward Tyler's acquisition of NIC. This expiration is a critical milestone, satisfying a closing condition for the transaction. Following this, the acquisition remains subject to customary conditions, including shareholder approval from NIC, with expectations to close in Q2 2021. NIC serves over 7,100 government agencies, having processed 400 million online transactions in 2020, showcasing its impact in the digital solutions space.

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.