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Tyler (TYL) to Provide Odyssey & Insights Support to Texas OCA
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Tyler Technologies (TYL - Free Report) recently announced that it has inked an agreement with the Texas Office of Court Administration (“OCA”) to provide Odyssey Case Manager and Court Insights solutions in the small county courts of Texas.
The company currently provides eFileTexas e-filing system and re:SearchTX portal services throughout Texas. It also provides Odyssey court case management system services to over 90 counties covering approximately 90% of Texas’ population.
With this new agreement, Tyler will be serving small counties in the state with a population of less than 20,000. This move will further strengthen the company’s footprint via the expansion of the aforementioned services and its data analytics software solution, Court Insights.
The new deal will be launched in around 200 county courts. The Insights solution will do performance evaluation using standardized metrics developed by the National Center for State Courts, such as comparative analysis with other state courts, gauging the average time to disposition of cases and determining trial date certainty. This move will also aid in state reporting.
In recent times, courts are increasingly adopting new technologies for smooth functioning amid the ongoing pandemic-led work from home wave and social distancing norms adopted by governments worldwide. According to the company’s press release, more than 21 million criminal and civil filings have been made over the last five years.
Tyler has been benefiting from the public sector’s on-going transition from on-premise and out-dated systems to scalable cloud-based systems. It has been continuously advancing its core software applications and expanding complementary product and service portfolios to cater to the changing needs of customers and keep pace with technological advancements.
During second-quarter 2021, the company added 170 new subscription-based arrangements and converted 62 existing on-premises clients, accounting for approximately $73 million in total contract value.
Tyler has been pursuing strategic takeovers to broaden its product and service offerings, enter new markets related to local governments, attract clients and expand geographically. Investments and acquisitions are helping it stay ahead of the curve, and capitalize on new and expanding opportunities.
In the second quarter, the company gained primarily from the post-acquisition contributions of NIC. Its revenues grew 49.4% year over year to $405.4 million. It also recently completed acquisition of VendEngine, a fintech company, and Arx, a cloud-based software service provider.
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Tyler (TYL) to Provide Odyssey & Insights Support to Texas OCA
Tyler Technologies (TYL - Free Report) recently announced that it has inked an agreement with the Texas Office of Court Administration (“OCA”) to provide Odyssey Case Manager and Court Insights solutions in the small county courts of Texas.
The company currently provides eFileTexas e-filing system and re:SearchTX portal services throughout Texas. It also provides Odyssey court case management system services to over 90 counties covering approximately 90% of Texas’ population.
With this new agreement, Tyler will be serving small counties in the state with a population of less than 20,000. This move will further strengthen the company’s footprint via the expansion of the aforementioned services and its data analytics software solution, Court Insights.
The new deal will be launched in around 200 county courts. The Insights solution will do performance evaluation using standardized metrics developed by the National Center for State Courts, such as comparative analysis with other state courts, gauging the average time to disposition of cases and determining trial date certainty. This move will also aid in state reporting.
Tyler Technologies, Inc. Price and Consensus
Tyler Technologies, Inc. price-consensus-chart | Tyler Technologies, Inc. Quote
In recent times, courts are increasingly adopting new technologies for smooth functioning amid the ongoing pandemic-led work from home wave and social distancing norms adopted by governments worldwide. According to the company’s press release, more than 21 million criminal and civil filings have been made over the last five years.
Tyler has been benefiting from the public sector’s on-going transition from on-premise and out-dated systems to scalable cloud-based systems. It has been continuously advancing its core software applications and expanding complementary product and service portfolios to cater to the changing needs of customers and keep pace with technological advancements.
During second-quarter 2021, the company added 170 new subscription-based arrangements and converted 62 existing on-premises clients, accounting for approximately $73 million in total contract value.
Tyler has been pursuing strategic takeovers to broaden its product and service offerings, enter new markets related to local governments, attract clients and expand geographically. Investments and acquisitions are helping it stay ahead of the curve, and capitalize on new and expanding opportunities.
In the second quarter, the company gained primarily from the post-acquisition contributions of NIC. Its revenues grew 49.4% year over year to $405.4 million. It also recently completed acquisition of VendEngine, a fintech company, and Arx, a cloud-based software service provider.
Zacks Rank & Other Key Picks
Tyler currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology sector are Avnet (AVT - Free Report) , Apple (AAPL - Free Report) and Paycom Software (PAYC - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term earnings growth rate of Avnet, Apple and Paycom Software are pegged at 25.4%, 12.5% and 25%, respectively.