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Tyler (TYL) ERP Solution to Streamline Suisun City's Operations
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Tyler Technologies (TYL - Free Report) recently announced that it signed a contract with Suisun City, CA for providing a comprehensive suite of enterprise resource planning (ERP) solutions. These solutions include Tyler’s Incode-powered ERP Pro, EnerGov-powered Enterprise Permitting & Licensing, Enterprise Asset Management, Time & Attendance and Content Manager.
Tyler’s solutions will help Suisun City centralize its entire ERP system with flexibility for customization, which the older ERP system lacks. The company revealed that the ERP solutions currently used by the city lack the aforementioned factors and use multiple vendors for asset management and permitting needs.
By implementing TYL’s ERP solutions, Suisun City will be able to offer efficient services to the community, reduce the manual work of employees and provide better infrastructure for staffs and remote working facility.
"We are excited to bring a contemporary ERP solution to our staff that will streamline business operations and minimize redundancies in our office," said Lakhwinder Deol, finance director, Suisun City. "We are confident in Tyler’s caliber of products and in their strong partnership, and we are looking forward to kicking off this implementation with them."
It is worth mentioning that Tyler has been benefiting from the public sector’s ongoing transition from the on-premise and outdated systems to scalable cloud-based systems. It has been continuously advancing its core software applications and expanding its complementary product and service portfolios to fulfill the changing needs of customers and respond to technological advancements.
The company has been extensively focusing on extending its major state enterprise contracts as well. Last week, the company announced that Texas signed a three-year contract extension for its payment processing services.
Last month, it signed a contract with the Utah Department of Public Safety for providing a comprehensive suite of public safety solutions. Tyler’s solutions will include the company’s Enterprise Law Enforcement Records, Mobile, Field Mobile, Enforcement Mobile and Public Safety Analytics.
In March, Mississippi signed a two-year contract for Tyler’s award-winning digital government and payments services, which further extended the 11-year-long relationship between the state and the company.
In the same month, TYL announced that it provided its Economic Intelligence solution for New Jersey’s Office of Information Technology. Leveraging third-party data from two of its official partners, SafeGraph and Affinity Solutions, and integrating them into its Data & Insights platform, Tyler aided the New Jersey office in analyzing and understanding local economic trends.
In the first quarter of 2022, the company added 149 new subscription-based arrangements and 44 license contracts, accounting for a cumulative contact value worth $73.6 million.
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. However, it faces significant integration risks due to frequent acquisitions.
Furthermore, Tyler’s near-term growth prospect is likely to be negatively impacted by delays in procurement processes and lengthening sales cycles as public entities focus on issues related to the pandemic. Also, many of its customers are likely to face budget pressure in the near term.
Zacks Rank & Other Stocks to Consider
Tyler currently carries a Zacks Rank #2 (Buy). Shares of TYL have rallied 0.1% in the past year.
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Analog Devices' earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 6%. Shares of ADI have increased 2.9% in the past year.
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Tyler (TYL) ERP Solution to Streamline Suisun City's Operations
Tyler Technologies (TYL - Free Report) recently announced that it signed a contract with Suisun City, CA for providing a comprehensive suite of enterprise resource planning (ERP) solutions. These solutions include Tyler’s Incode-powered ERP Pro, EnerGov-powered Enterprise Permitting & Licensing, Enterprise Asset Management, Time & Attendance and Content Manager.
Tyler’s solutions will help Suisun City centralize its entire ERP system with flexibility for customization, which the older ERP system lacks. The company revealed that the ERP solutions currently used by the city lack the aforementioned factors and use multiple vendors for asset management and permitting needs.
By implementing TYL’s ERP solutions, Suisun City will be able to offer efficient services to the community, reduce the manual work of employees and provide better infrastructure for staffs and remote working facility.
"We are excited to bring a contemporary ERP solution to our staff that will streamline business operations and minimize redundancies in our office," said Lakhwinder Deol, finance director, Suisun City. "We are confident in Tyler’s caliber of products and in their strong partnership, and we are looking forward to kicking off this implementation with them."
Tyler Technologies, Inc. Price and Consensus
Tyler Technologies, Inc. price-consensus-chart | Tyler Technologies, Inc. Quote
Digital Transformation Wave Aiding Tyler’s Growth
It is worth mentioning that Tyler has been benefiting from the public sector’s ongoing transition from the on-premise and outdated systems to scalable cloud-based systems. It has been continuously advancing its core software applications and expanding its complementary product and service portfolios to fulfill the changing needs of customers and respond to technological advancements.
The company has been extensively focusing on extending its major state enterprise contracts as well. Last week, the company announced that Texas signed a three-year contract extension for its payment processing services.
Last month, it signed a contract with the Utah Department of Public Safety for providing a comprehensive suite of public safety solutions. Tyler’s solutions will include the company’s Enterprise Law Enforcement Records, Mobile, Field Mobile, Enforcement Mobile and Public Safety Analytics.
In March, Mississippi signed a two-year contract for Tyler’s award-winning digital government and payments services, which further extended the 11-year-long relationship between the state and the company.
In the same month, TYL announced that it provided its Economic Intelligence solution for New Jersey’s Office of Information Technology. Leveraging third-party data from two of its official partners, SafeGraph and Affinity Solutions, and integrating them into its Data & Insights platform, Tyler aided the New Jersey office in analyzing and understanding local economic trends.
In the first quarter of 2022, the company added 149 new subscription-based arrangements and 44 license contracts, accounting for a cumulative contact value worth $73.6 million.
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. However, it faces significant integration risks due to frequent acquisitions.
Furthermore, Tyler’s near-term growth prospect is likely to be negatively impacted by delays in procurement processes and lengthening sales cycles as public entities focus on issues related to the pandemic. Also, many of its customers are likely to face budget pressure in the near term.
Zacks Rank & Other Stocks to Consider
Tyler currently carries a Zacks Rank #2 (Buy). Shares of TYL have rallied 0.1% in the past year.
Some other top-ranked stocks from the broader technology sector are Semtech (SMTC - Free Report) , MaxLinear (MXL - Free Report) and Analog Devices (ADI - Free Report) . Semtech sports a Zacks Rank #1 (Strong Buy), while MaxLinear and Analog Devices each carry a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Semtech's first-quarter fiscal 2023 earnings has been revised to 76 cents per share from 70 cents over the past 60 days. For fiscal 2023, earnings estimates have moved north by 8% to $3.38 per share in the past 60 days.
Semtech's earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 2.8%. Shares of SMTC have declined 3.6% in the past year.
The Zacks Consensus Estimate for MaxLinear's second-quarter 2022 earnings has been revised upward by three cents to 10 cents per share over the past 30 days. For 2022, MaxLinear's earnings estimates have moved north by 36 cents to $4.07 per share in the past 30 days.
MaxLinear's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 7.1%. Shares of MXL have soared 23.8% in the past year.
The Zacks Consensus Estimate for Analog Devices' second-quarter fiscal 2022 earnings has been revised upward by 4 cents to $2.12 per share over the past 60 days. For fiscal 2022, earnings estimates have moved north by 11 cents to $8.43 per share in the past 60 days.
Analog Devices' earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 6%. Shares of ADI have increased 2.9% in the past year.