Tyler Technologies, Inc. TYL recently announced that the Yolo Superior Court, California, has signed an agreement with it to make use of its courts and justice solutions.
Reportedly, Yolo Superior Court partnered with Tyler not only because of the company’s superior case management system but also for the services like electronic filing, assistance in filing legal documents and settling disputes that Tyler enables it to offer.
Notably, the Odyssey Case Manager, Odyssey File & Serve electronic filing and Modria online dispute resolution solutions are expected to bring efficiency and transparency to the superior court.
Bruce Graham, president, Tyler’s Courts & Justice division, believes that the amalgamation of Odyssey, e-Filing solutions and Modria will enhance efficiency of the court, streamline processes, reduce errors and allow the court’s staff to focus more on serving its residents.
On the last earnings call, Tyler mentioned that its courts and justice solution, Odyssey, is gaining greater adoption.
Per reports, Odyssey is used by seven of the 10 largest counties in the United States and 24 of 58 counties across California. The company also boasts the nation’s largest superior court, Los Angeles County, as a client.
The solution handles millions of court case transactions per week and manages more than 100 million cases across the country.
Recently, the company entered into on-premises license contracts with Cleveland, Ohio Municipal Court and the state of Maine District Attorney’s Office as well as SaaS arrangements with Liberty County, TX and the city of Shreveport, LA.
Additionally, the company inked an amendment with the state of Illinois to add criminal e-filing, valued at approximately $2 million.
Last September, Tyler acquired Modesto, CA-based CaseloadPro, a provider of digital tools for managing probation cases. This acquisition is expected to expand Tyler's courts and justice segment with the addition of a comprehensive supervision solution for probation and parole departments and eventually, strengthen its foothold in the probation market.
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 eGain Corporation EGAN, Rosetta Stone RST and j2 Global, Inc. JCOM, each flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for eGain, Rosetta Stone and j2 Global is currently projected at 30%, 12.5% and 8%, respectively.
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