Tyler (TYL) Signs Deal With ISC to Move Enterprise Solution
Tyler Technologies TYL recently signed a five-year contract with the Idaho Supreme Court (“ISC”). Notably, ISC has been using Tyler's Enterprise Case Manager for simplifying its operations. This collaboration is set to help the ISC move the company’s Enterprise Case Manager solution from on-premise to Tyler’s SaaS deployment.
Tyler’s Enterprise Case Manager software provides a comprehensive list of solutions to administer courts seamlessly. The solution provides access to a full register of actions for a court case. It helps users calculate fees and fines, as well as distribute payments automatically, and use multiple pathways to search data related to court proceedings.
Shifting the solution from on-premise to Tyler’s SaaS deployment will empower ISC with increased protection against natural disasters, as TYL’s SaaS solution leverages cloud technologies, including GovCloud (U.S.) from Amazon Web Services. Moreover, cloud storage will also ensure that ISC doesn’t have to engage in managing servers and performing backups, making the court’s proceedings smoother.
Tyler Technologies, Inc. Price and Consensus
Tyler Technologies, Inc. price-consensus-chart | Tyler Technologies, Inc. Quote
Tyler benefits from a sustained transition within the public sector from on-premise and outdated systems to scalable cloud-based systems. This multi-year transition is expected to enhance the company’s recurring revenues, which currently contribute a significant portion to its top line.
Moreover, the contracts that Tyler gets from public and federal sectors benefit the company by providing a stable and consistent revenue stream. The public sector market, in which Tyler operates, is one of the largest in the United States, with approximately 3,000 counties, various public departments across 36,000 towns and cities, and numerous schools across the country.
This diverse potential client base gives TYL the opportunity to deploy IT services and solutions for property assessment, judicial functions, record-keeping, finance, road maintenance, law enforcement, public safety, healthcare, election administration and more.
Zacks Rank and Stocks to Consider
Currently, Tyler carries a Zacks Rank #3 (Hold). Shares of TYL have gained 33.7% in the past year.
Some better-ranked stocks from the broader technology sector are BlackLine BL, Arista Networks ANET and Dell Technologies DELL. While BlackLine and Arista Networks carry a Zacks Rank #1 (Strong Buy) each at present, DELL carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for BlackLine’s fourth-quarter 2023 earnings has been revised by a penny northward to 55 cents per share in the past 60 days. Shares of BL have lost 18.9% in the past year.
The Zacks Consensus Estimate for Arista’s fourth-quarter 2023 earnings has been revised by a penny northward to $1.71 per share in the past seven days. Shares of ANET have rallied 95.7% in the past year.
The Zacks Consensus Estimate for DELL fourth-quarter 2024 earnings per share has been revised northward by a penny to $1.73 in the past 30 days. Shares of DELL have surged 100.1% in the past year.
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