Tyler Boosts Public Safety With New World ShieldForce Launch
Tyler Technologies Inc. TYL introduced New World ShieldForce mobile application on the iOS platform for first responders, command staff and patrol officers. The company plans to make the app available on Android in spring 2019.
The app is designed to make real-time and mission-critical data available instantly for public safety agencies in order to improve their situational and contextual awareness and overall safety so as to keep communities safer.
Moreover, by enabling computer-aided dispatch (CAD) functionality on a smartphone, tablet, or watch, New World ShieldForce provides a vital connection between patrol officers, dispatchers and command staff.
Tyler has been continually upgrading its core software applications and expanding complementary product and service offerings to cater to the changing needs of customers and respond to technological advancements.
The company offers software solutions and services for Financial Management and Education, Courts and Justice, Public Safety, Property Appraisal and Tax, Planning, Regulatory and Maintenance, and Land and Vital Records Management.
We note that the company significantly expanded its presence in the public safety software market with the acquisition of New World Systems Corporation, a provider of public safety and financial solutions for local governments, in November 2015.
In fiscal 2017, Tyler’s research and development expense increased 10% year over year, driven by the company’s product development initiatives, primarily in public safety solutions.
On the last earnings call, management noted that it was a successful quarter particularly for new business at the Public Safety division. Moreover, management also noted that the investments that they are making in New World Public Safety solutions are “starting to affect decisions in the marketplace.”
The company won several new deals in the last reported quarter and expects the momentum to continue.
However, Tyler faces significant competition in most of its end markets from leading players like Oracle, SAP, Workday etc. As stiff competition exerts a lot of pricing pressure, it makes us apprehensive about the company’s earnings potential.
Tyler Technologies, Inc. Revenue (TTM)
Tyler Technologies, Inc. Revenue (TTM) | Tyler Technologies, Inc. Quote
Zacks Rank & Stocks to Consider
Tyler currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader technology sector are Microsoft MSFT, Veeva Systems VEEV and j2 Global JCOM, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
Long-term earnings growth rate for Microsoft, Veeva and j2 Global is currently projected to be 12.3%, 19.3% and 8% respectively.
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