Tyler Technol Stock Price, News & Analysis

Tyler Technologies (NYSE: TYL) announced that its redesigned Expresslane.org website, developed by NIC Louisiana, received two international awards: gold at the Hermes Creative Awards and silver at the MUSE Creative Awards. The site enhances government interactions for Louisiana citizens, offering services such as vehicle registration and driver's license renewals. Since its relaunch in January 2021, Expresslane.org has set new user records in January and March, indicating a significant improvement in digital experience for users.

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.