To support its ongoing projects of bringing digital transformation in the public sector and governance, Tyler recently launched a new manufacturing facility in Kingston Springs, TN, to support the growth of its Enterprise Corrections software. So far in 2024, Tyler has gained two major correctional facilities as its clients. It has strengthened the U.S. legal system by working with the Florida Department of Corrections ("FDC") and the Guam Department of Corrections. Tyler (TYL) shares have climbed 16.7% yea ...

Tyler Technologies (TYL) recently launched an electronic lien and title service for vehicle titling in collaboration with Champ Titles, Inc. and the New Jersey Motor Vehicle Commission. This electronic system will eliminate the lengthy paper-based processes and facilitate lienholders to communicate in real time with the commission. Moreover, this digitization is expected to bring transparency to the lien and titling process by eliminating the scope of document manipulation and obfuscation. Furthermore, the ...

So far in 2024, the company has signed deals with the Florida Department of Corrections, Illinois Police Department, Guam Department of Corrections, Jackson Public Schools, Florida-based Collier County, California State Parks, Idaho Supreme Court, Wyoming State Parks, City of Edina and the Commonwealth of Kentucky. The entire setup took a nine-month implementation time and involved TYL's multiple applications, such as Civil Serve, Civil Query, Civil Mobile, GIS Connector and Sales Web. The platform will be ...

Core Viewpoint - Growth stocks are appealing due to their potential for above-average financial growth, but identifying strong candidates involves significant risk and volatility [1] Group 1: Company Overview - Tyler Technologies (TYL) is currently highlighted as a recommended growth stock based on the Zacks Growth Style Score system, which evaluates a company's growth prospects beyond traditional metrics [2] - The company has a favorable Growth Score and a top Zacks Rank, indicating strong potential for performance [2][10] Group 2: Earnings Growth - Historical EPS growth for Tyler Technologies stands at 10.5%, with projected EPS growth of 17.1% for the current year, surpassing the industry average of 12.6% [5] - Earnings growth is a critical factor for investors, as it often correlates with stock price gains [4] Group 3: Cash Flow Growth - Tyler Technologies has a year-over-year cash flow growth of 0.2%, which is above the industry average of 0.1% [6] - The company's annualized cash flow growth rate over the past 3-5 years is 14.6%, compared to the industry average of 13% [7] Group 4: Earnings Estimate Revisions - Recent upward revisions in current-year earnings estimates for Tyler Technologies indicate a positive trend, with the Zacks Consensus Estimate increasing by 5.4% over the past month [9] - Trends in earnings estimate revisions are strongly correlated with near-term stock price movements, making this a significant metric for investors [8] Group 5: Investment Potential - Tyler Technologies has achieved a Growth Score of A and a Zacks Rank of 2, suggesting it is a solid choice for growth investors [10][11]

Core Insights - Tyler Technologies has implemented digital payment and deposit solutions for the Florida Department of Corrections, replacing paper-based processes and enhancing services for inmates and their families [1] - The collaboration aims to improve the inmate trust management life cycle, leveraging Amazon Web Services for secure and instant fund transfers [2] - The platform allows depositors to send funds via an app, online transactions, or secure lockboxes, with inmates accessing funds through a prepaid debit card [3] Company Growth and Expansion - Tyler Technologies is experiencing growth in its Digital Solutions division, with 288 new payment deals in Q1 2024, adding significant value to its business model [4] - The company has expanded its customer base by adding various public and federal organizations, which provide stable revenue streams through multi-year deals [5] Challenges and Market Conditions - Near-term growth prospects may be hindered by delays in procurement processes and lengthening sales cycles due to macroeconomic headwinds [6] - Budget pressures on customers and high investments in R&D initiatives may negatively impact margins, while competition is expected to keep pricing under pressure [6] Stock Performance - Tyler Technologies currently holds a Zacks Rank 2 (Buy), with shares returning 23.1% over the past year [7] - Comparatively, Amazon holds a Zacks Rank 3 (Hold) with a 68.2% return over the same period [7]

10'000 Hours Investment summary My recommendation for Tyler Technologies (NYSE:TYL) is a buy rating. TYL is a leading software solution in a large market that is expected to continue growing, supported by strong secular tailwinds. As the leading player, TYL should be well positioned to benefit from this. In addition, the transition to cloud is well underway and should support TYL growth as cloud customers are economically more profitable. Business Overview TYL TYL provides software, hardware, and mainte ...

Financial Data and Key Metrics Changes - Total revenues for Q1 2024 were $512.4 million, an increase of 8.6% year-over-year, with organic growth of 7.8% [48] - Subscription revenue increased by 11.7%, with SaaS revenues growing 22% to $148.8 million, and organic growth of 21.3% [48] - Total annualized recurring revenue reached approximately $1.72 billion, up 8.8% and organically grew 8.2% [25] - Non-GAAP operating margin improved to 23.8%, up 210 basis points from the previous year [51] - Cash flows from operations were $71.8 million, and free cash flow was $57.2 million, exceeding expectations [26] Business Line Data and Key Metrics Changes - SaaS deals comprised approximately 93% of Q1 new software contract value, up from 87% the previous year [24] - The average annual recurring revenue (ARR) associated with Q1 flips increased by 21.5% year-over-year [50] - Transaction revenues grew 3.7% to $164.5 million, driven by higher transaction volumes [23] Market Data and Key Metrics Changes - The company noted a strong demand backdrop in state and local governments, with healthy budgets supporting sales activity [41] - The volume of signed contracts in Q1 was in line with expectations, with notable wins in public safety and enterprise solutions [20][45] Company Strategy and Development Direction - The company is focused on its Tyler 2030 Vision, which emphasizes leveraging the installed base, expanding into new markets, completing the cloud transition, and growing the payments business [17] - The shift to SaaS is accelerating, with 75% of public safety deals in Q1 being SaaS, leading to a reduction in expectations for license revenues [44] - The company is actively pursuing cross-sell and upsell opportunities, enhancing client relationships and expanding market reach [42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing demand from public sector clients, with expectations for continued growth driven by ARPA funds and a strong sales pipeline [40][158] - The company anticipates that the transition to SaaS will continue to drive revenue growth, with a positive outlook for the remainder of the year [76] - Management highlighted the importance of cybersecurity concerns as a factor driving clients to move to cloud solutions [143] Other Important Information - The company has raised its annual revenue guidance for 2024, expecting total revenues between $2.110 billion and $2.140 billion, implying organic growth of approximately 8.5% [52][154] - The company is preparing for Tyler Connect 2024, which will gather nearly 5,000 clients for training and collaboration [55] Q&A Session Summary Question: What is the impact of presidential election years on customer spending? - Management indicated that there has historically been little correlation between sales and presidential election years, with current budgets remaining healthy [60][83] Question: Can you discuss the growing sales synergies and integrated go-to-market strategy? - Management noted that efforts to align sales teams and incentive structures are ongoing, aiming to enhance collaboration and efficiency [80] Question: How is the company addressing the shift to SaaS in public safety? - Management confirmed that they are leading with SaaS in public safety and are seeing positive results from this strategy [85] Question: What is the rationale behind the change from gross to net revenue models? - Management explained that most clients prefer the gross model for its predictability, and changes are typically client-driven [121] Question: How are the AI-powered acquisitions performing? - Management expressed optimism about the growth trajectories of recent acquisitions, noting early traction and market interest [151]

Tyler Technologies, Inc. (TYL) reported first-quarter 2024 non-GAAP earnings of $2.20 per share, which beat the Zacks Consensus Estimate of $2.03. The bottom line was higher than the year-ago quarter’s earnings of $1.76.Non-GAAP revenues increased 8.6% year over year to $512.4 million. Moreover, the top line beat the Zacks Consensus Estimate of $507.8 million.Year-over-year top-line growth was primarily driven by a rise in subscription revenues. During the first quarter, software subscription arrangements c ...

For the quarter ended March 2024, Tyler Technologies (TYL) reported revenue of $512.36 million, up 8.6% over the same period last year. EPS came in at $2.20, compared to $1.76 in the year-ago quarter.The reported revenue represents a surprise of +0.90% over the Zacks Consensus Estimate of $507.79 million. With the consensus EPS estimate being $2.03, the EPS surprise was +8.37%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Str ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended March 31, 2024 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. Commission File Number 1-10485 TYLER TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) | Delaware | | 75-2303920 | | | --- | --- | --- | --- | | (State or other jurisdiction of | | (I. ...