Tyler Technol Stock Price, News & Analysis

Tyler Technologies (NYSE: TYL) announces the launch of New Jersey's COVID-19 Oversight website, leveraging its Socrata data platform. The site consolidates federal recovery funding information for transparency, tracking how the government allocates and spends COVID-19 recovery funds. It aims to ensure accountability, reduce fraud, and provide valuable resources to residents and businesses. Franklin Williams, president of Tyler's Data & Insights Division, emphasized the state's role in enhancing financial transparency. Tyler's Socrata has been operational since 2009, facilitating better data sharing across government systems.

Tyler Technologies (NYSE: TYL) has signed an agreement with Nevada's Department of Public Safety to implement Tyler Supervision™ for the Nevada Parole and Probation Department. This modern solution will replace the outdated Offender Information Tracking System (OTIS), enhancing efficiency and automation in case management. The new system will facilitate better communication, tracking, and management of parole and probation cases. Key benefits include voice biometric check-ins, streamlined payment tracking, and improved data security standards.

Tyler Technologies, Inc. (NYSE: TYL) has made its debut on the Albany Business Review's "Best Places to Work" list for 2020, being recognized among 48 firms from various sectors. This recognition is attributed to a comprehensive employee assessment managed by Quantum Workplace, where Tyler's nearly 150 Latham employees highlighted the firm’s strong company culture and dedication to public sector clients. The awards have been given for 17 years, and Tyler's inclusion emphasizes local pride and team contributions, marking a significant milestone for the company.

Tyler Technologies, Inc. (NYSE: TYL) recently launched Alaska's new open data portal, utilizing its Socrata platform. This portal aims to enhance public access to government data, consolidating various datasets, including federal loan information and drug utilization statistics. Alaska's Chief Data Officer emphasized the importance of protecting residents' privacy while making public data more accessible. Since 2009, Tyler's Socrata has facilitated data sharing among government entities, demonstrating the company's commitment to transparency and efficient public service delivery.

Tyler Technologies (NYSE: TYL) reported Q3 2020 revenues of $285.7 million, a 3.8% increase year-over-year, with organic growth at 3.3%. Non-GAAP revenues rose to $285.9 million, up 3.2%. Recurring revenues from subscriptions grew 12% to $207.3 million. Operating income increased 24% to $49.7 million. However, net income fell 2.7% to $39.3 million, or $0.94 per diluted share. The company revised its 2020 guidance upwards, expecting revenues between $1.117 and $1.129 billion, and EPS between $4.53 and $4.63, amid challenges from COVID-19 and an IT security incident that impacted revenue.

Tyler Technologies, Inc. (NYSE: TYL) will engage in three virtual investor conferences in November 2020. Michael Smith, Chief Accounting Officer, will present at the Benchmark Technology Virtual One-on-One Investor Conference on November 12 and at the Northcoast Research 2020 Fall Conference on November 16. Additionally, Brian Miller, Executive Vice President and CFO, will participate in a fireside chat at the RBC Capital Markets 2020 Global Technology Conference on November 17 at 10:00 a.m. ET and will conduct one-on-one meetings throughout the day. A live webcast will be available.

Tyler Technologies (NYSE: TYL) has been recognized for the 13th time as one of the "Best Places to Work in Maine," ranking in the "Large Employer Category" for companies with over 250 employees. This accolade highlights Tyler's commitment to a strong company culture and employee satisfaction. With over 850 employees in Maine, the award follows a rigorous assessment by Best Companies Group, which evaluated various metrics including employee benefits and workplace policies. Tyler provides integrated software solutions for public sector clients across the U.S. and internationally.

Tyler Technologies (NYSE: TYL) announced it will discuss its third quarter 2020 results on November 5, 2020, during a teleconference hosted by CEO H. Lynn Moore Jr. and CFO Brian K. Miller. The related press release will be made available post-market on November 4, 2020. Investors can pre-register for the call or access it via dial-in options. The webcast and archived replay will also be available online.

Tyler Technologies provides software and technology services to the public sector, with over 26,000 installations across more than 10,000 sites globally.