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TYLER TECHNOLOGIES, INC.

(TYL)
  Report
Delayed Quote. Delayed Nyse - 12/08 04:10:00 pm
529.97 USD   +1.13%
12/07Tyler Technologies Increases Records Management Efficiency for Ventura County, California
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12/06INSIDER SELL : Tyler Technologies
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12/02Tyler Technologies Seeks Acquisitions
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Tyler Technologies : Colorado Department of Regulatory Agencies to Improve Licensing Management with Tyler Technologies Solution

09/14/2021 | 09:19am EST

Comprehensive solution will feature regulatory licensing, analytics, mobile inspection, and electronic payments

Tyler Technologies, Inc. (NYSE: TYL) announced today it has signed a 10-year agreement with the Colorado Department of Regulatory Agencies (“DORA”), Division of Professions and Occupations, for Tyler’s ETK Regulatory™ solution. Tyler will provide the agency with an integrated licensing regulation management platform to help it offer as many licensing services online as possible to expand public access without compromising the quality of data.

“We are excited to upgrade our licensing regulation management with the help of Tyler’s technology,” said DORA’s Ronne Hines, division director, Division of Professions and Occupations. “By offering more licensing services online, it will put our customers in control of accessing these crucial services. Additionally, it will free up some of our staff resources to focus on other critical tasks.”

DORA’s Division of Professions and Occupations was an existing Tyler client who conducted a formal RFP process and ultimately re-selected Tyler. Tyler will bring together multiple solutions to create a single, comprehensive, cloud-based system. This includes Tyler’s ETK Regulatory platform, its Socrata® insights solution for analytics, its mobile inspection solution, and NIC Payments, an electronic payment solution. Nearly 250 users and an additional 70 field inspectors will use the platform to manage 233 different license types, which includes electric and plumbing permitting, currently managed on an in-house legacy system.

DORA is the state of Colorado’s umbrella regulatory agency, charged with managing licensing and registration for multiple professions and businesses, implementing balanced regulation for Colorado industries, and protecting consumers. The department is charged with administering more than 50 regulatory programs comprising over 886,000 individual licensees and approximately 65,000 businesses and institutions. The Division of Professions and Occupations is DORA’s largest division.

Tyler will partner with the state to provide the initial investment to implement the solution. DORA will then collect transaction fees from its constituents to fund the system over the term of the contract.

“We are pleased to continue our relationship with DORA, bringing them a new, cloud-based system that will help manage more than 230 different license types,” said Kris Collo, president of Tyler’s Federal Division. “Our billing model with DORA is unique in the regulatory market. It can help agencies who might not have the capital funding available to access the technology upgrades they need. This model helps us bring innovative solutions to more agencies and expand public access to important licensing services.”

About Tyler Technologies, Inc.

Tyler Technologies (NYSE: TYL) provides integrated software and technology services to the public sector. Tyler's end-to-end solutions empower local, state, and federal government entities to operate more efficiently and connect more transparently with their constituents and with each other. By connecting data and processes across disparate systems, Tyler's solutions are transforming how clients gain actionable insights that solve problems in their communities. Tyler has more than 27,000 successful installations across more than 11,000 sites, with clients in all 50 states, Canada, the Caribbean, Australia, and other international locations. Tyler has been named to Government Technology's GovTech 100 list five times and has been recognized three times on Forbes' "Most Innovative Growth Companies" list. More information about Tyler Technologies, an S&P 500 company headquartered in Plano, Texas, can be found at tylertech.com.


© Business Wire 2021
All news about TYLER TECHNOLOGIES, INC.
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Financials (USD)
Sales 2021 1 592 M - -
Net income 2021 151 M - -
Net cash 2021 965 M - -
P/E ratio 2021 149x
Yield 2021 -
Capitalization 21 716 M 21 716 M -
EV / Sales 2021 13,0x
EV / Sales 2022 11,0x
Nbr of Employees 6 718
Free-Float 84,0%
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 529,97 $
Average target price 563,85 $
Spread / Average Target 6,39%
EPS Revisions
Managers and Directors
H. Lynn Moore President, Chief Executive Officer & Director
Brian K. Miller Chief Financial Officer, Treasurer & EVP
John S. Marr Executive Chairman
Jeff Green Chief Technology Officer
Kevin Iwersen Chief Information Officer
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