Tyler (TYL) to Modernize USDA Forest Service's CJIS via V3Gate
Tyler Technologies TYL recently announced that the United States Department of Agriculture's (“USDA”) Forest Service Law Enforcement and Investigations ("LEI") has modernized its Criminal Justice Information System with Tyler’s Entellitrak, a low-code application development platform for case management.
Through one of Tyler Platform Alliance’s Silver partners, V3Gate, which is a recognized IT solutions provider for the US Federal government, USDA’s Forest Service LEI replaced its legacy Law Enforcement Investigations Management Attainment Reporting System — a national Law Enforcement incident reporting database.
Tyler’s Entellitrak uses a Data-First approach for building systems, i.e., it is driven by expert knowledge of what information needs to be captured and modeled at every stage of a case. It comes with a bunch of completely integrated solution modules, which include escan, efile, analytics, mobile and document management. It also has a customizable help module, which offers greater access to vital information and instructions to the end users.
With Entellitrak, the law enforcement management system will become more convenient and robust. It will allow law officers to create reports, issue violation notices and manage legal documents online, faster than time taken conventionally, from anywhere in the world. This will further validate the reliability of Tyler’s Partner Alliance, a partner program based on Entellitrak solutions.
This will not only enable USDA Forest Service to meet the 2021 National Incident Based Reporting System mandate but also make it compliant with the Federal Risk and Authorization Management Program.
Tyler Technologies, Inc. Price and Consensus
Tyler Technologies, Inc. price-consensus-chart | Tyler Technologies, Inc. Quote
Tyler has been benefiting from the federal government’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. The company primarily gained from the post-acquisition contributions of NIC. Its revenues grew 49.4% year over year to $405.4 million. It recently completed the buyouts of VendEngine, a fintech company, and Arx, a cloud-based software service provider.
Zacks Rank & Key Picks
Tyler currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Avnet AVT, EPAM Systems EPAM and Paycom Software PAYC, 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, EPAM Systems and Paycom Software are pegged at 25.4%, 26.5% and 25%, respectively.
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