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Tyler (TYL) Buys Outdoor Recreation Solution Firm US eDirect
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Tyler Technologies (TYL - Free Report) recently announced the acquisition of US eDirect, a provider of technology solutions for campground and outdoor recreation management. However, the company didn’t disclose the financial terms of the transaction. Per the agreement, current employees of US eDirect will become part of Tyler and continue working from their current office locations.
The Roslyn Heights, NY-based US eDirect was founded in 1999. The company currently serves 40 clients across the United States, Canada, Australia and New Zealand. It has developed a Recreation Dynamics platform, which is a large-scale, enterprise-grade cloud transaction management system, focused on government-run recreation and tourism operations.
Powered by Amazon Web Services, the Recreation Dynamics platform manages transactions concerning everything, including booking and registration for campground accommodations, passes and memberships, tours and events, outdoor licenses, recreation rentals, and parking and entry.
The acquisition will further enhance TYL’s outdoor solution portfolio and is believed to allow it to offer an extensive all-in-one outdoor recreation management solution. Additionally, the transaction will expand the company’s global footprint.
Tyler intends to integrate the newly acquired US eDirect’s Recreation Dynamics product to its wholly owned subsidiary, NIC. NIC is one of the leading digital government solutions and payment services providers, which Tyler acquired in April 2021.
Tyler also plans to combine its Data and Insights platform into the solution. This will further enhance analytics to the solution, thereby helping its clients better comprehend information and understand their customer transactions.
In recent years, Tyler’s growth trajectory has been driven by acquisitions. The company has been pursuing strategic takeovers to broaden its product and service offerings, enter new markets related to local governments, attract clients and expand geographically.
In September 2021, TYL acquired Arx to integrate Arx under its Public Safety Division. In the same month, it completed the acquisition of VendEngine for $84 million in cash. VendEngine focuses on providing cloud-based software for correctional facilities. The company offers financial management applications and communication platforms that are used by inmates of jails and prisons.
Apart from the abovementioned acquisition of NIC, Tyler also purchased a cloud-based school scheduling platform, ReadySub, in April 2021. The ReadySub acquisition has helped the company bring in more comprehensive schooling solutions to its school district clients by assisting them in implementing all-in-one workflows.
In late March 2021, Tyler bought DataSpec, a veterans’ claim management software firm, for an undisclosed amount. The acquisition will help the company enhance its capabilities and fortify the firm’s position in the veterans’ benefits management solutions market.
Tyler is likely to pursue more acquisitions that will strategically align with its current offerings. Along with investments in R&D, acquisitions are likely to strengthen the firm’s product offerings and clientele over the long run.
In the third quarter of 2021, the company gained primarily from post-acquisition contributions of NIC. Its non-GAAP revenues grew 61.1% year over year to $460.6 million.
The Zacks Consensus Estimate for Analog Devices’ first-quarter fiscal 2022 earnings has been revised upward by a penny to $1.79 per share over the past 30 days. For fiscal 2022, earnings estimates have moved upward by 1% to $7.53 per share over the past 30 days.
Analog Devices’ earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 6.1%. Shares of ADI have gained 5.9% in the trailing 12 months.
The Zacks Consensus Estimate for HP’s first-quarter fiscal 2022 earnings has been revised upward by seven cents to $1.03 per share over the past 90 days. For fiscal 2022, earnings estimates have moved upward 13 cents to $4.16 per share in the past 90 days.
HP’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 18%. HPQ stock has rallied 40.2% over the past year.
The Zacks Consensus Estimate for NVIDIA’s fourth-quarter fiscal 2022 earnings has been revised upward to $1.22 per share from $1.09 90 days ago. For fiscal 2022, earnings estimates have been revised upward by a penny to $4.35 per share in the past 30 days.
NVIDIA’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 7.7%. Shares of NVDA have increased 75.1% over the past year.
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Tyler (TYL) Buys Outdoor Recreation Solution Firm US eDirect
Tyler Technologies (TYL - Free Report) recently announced the acquisition of US eDirect, a provider of technology solutions for campground and outdoor recreation management. However, the company didn’t disclose the financial terms of the transaction. Per the agreement, current employees of US eDirect will become part of Tyler and continue working from their current office locations.
The Roslyn Heights, NY-based US eDirect was founded in 1999. The company currently serves 40 clients across the United States, Canada, Australia and New Zealand. It has developed a Recreation Dynamics platform, which is a large-scale, enterprise-grade cloud transaction management system, focused on government-run recreation and tourism operations.
Powered by Amazon Web Services, the Recreation Dynamics platform manages transactions concerning everything, including booking and registration for campground accommodations, passes and memberships, tours and events, outdoor licenses, recreation rentals, and parking and entry.
The acquisition will further enhance TYL’s outdoor solution portfolio and is believed to allow it to offer an extensive all-in-one outdoor recreation management solution. Additionally, the transaction will expand the company’s global footprint.
Tyler intends to integrate the newly acquired US eDirect’s Recreation Dynamics product to its wholly owned subsidiary, NIC. NIC is one of the leading digital government solutions and payment services providers, which Tyler acquired in April 2021.
Tyler also plans to combine its Data and Insights platform into the solution. This will further enhance analytics to the solution, thereby helping its clients better comprehend information and understand their customer transactions.
Tyler Technologies, Inc. Price and Consensus
Tyler Technologies, Inc. price-consensus-chart | Tyler Technologies, Inc. Quote
Growth via Acquisitions
In recent years, Tyler’s growth trajectory has been driven by acquisitions. The company has been pursuing strategic takeovers to broaden its product and service offerings, enter new markets related to local governments, attract clients and expand geographically.
In September 2021, TYL acquired Arx to integrate Arx under its Public Safety Division. In the same month, it completed the acquisition of VendEngine for $84 million in cash. VendEngine focuses on providing cloud-based software for correctional facilities. The company offers financial management applications and communication platforms that are used by inmates of jails and prisons.
Apart from the abovementioned acquisition of NIC, Tyler also purchased a cloud-based school scheduling platform, ReadySub, in April 2021. The ReadySub acquisition has helped the company bring in more comprehensive schooling solutions to its school district clients by assisting them in implementing all-in-one workflows.
In late March 2021, Tyler bought DataSpec, a veterans’ claim management software firm, for an undisclosed amount. The acquisition will help the company enhance its capabilities and fortify the firm’s position in the veterans’ benefits management solutions market.
Tyler is likely to pursue more acquisitions that will strategically align with its current offerings. Along with investments in R&D, acquisitions are likely to strengthen the firm’s product offerings and clientele over the long run.
In the third quarter of 2021, the company gained primarily from post-acquisition contributions of NIC. Its non-GAAP revenues grew 61.1% year over year to $460.6 million.
Zacks Rank & Stocks to Consider
Tyler currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader technology sector include Analog Devices (ADI - Free Report) , HP Inc. (HPQ - Free Report) and NVIDIA Corporation (NVDA - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Analog Devices’ first-quarter fiscal 2022 earnings has been revised upward by a penny to $1.79 per share over the past 30 days. For fiscal 2022, earnings estimates have moved upward by 1% to $7.53 per share over the past 30 days.
Analog Devices’ earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 6.1%. Shares of ADI have gained 5.9% in the trailing 12 months.
The Zacks Consensus Estimate for HP’s first-quarter fiscal 2022 earnings has been revised upward by seven cents to $1.03 per share over the past 90 days. For fiscal 2022, earnings estimates have moved upward 13 cents to $4.16 per share in the past 90 days.
HP’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 18%. HPQ stock has rallied 40.2% over the past year.
The Zacks Consensus Estimate for NVIDIA’s fourth-quarter fiscal 2022 earnings has been revised upward to $1.22 per share from $1.09 90 days ago. For fiscal 2022, earnings estimates have been revised upward by a penny to $4.35 per share in the past 30 days.
NVIDIA’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 7.7%. Shares of NVDA have increased 75.1% over the past year.