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Tyler Technologies TYL shares have gained 46.9% in the year-to-date period, outperforming the Zacks Business - Software Services industry, Zacks Computer and Technology Sector and S&P 500 index’s return of 21.4%, 28.8% and 25.1%, respectively. TYL’s outperformance can be attributed to its steady flow of customer wins, strong partnerships and robust financials.
Tyler recently signed a multi-year partnership with CourtCall. Together, the two companies will enhance remote and hybrid court hearings by streamlining virtual court proceedings, offering services, such as secure video and audio collaboration, AI-driven transcription, e-signatures and fingerprint capture.
To achieve these goals, Tyler will integrate its court case management solutions, namely the Enterprise Justice and Municipal Justice with CourtCall's Remote Collaboration Platform. This collaboration is expected to benefit courts by retaining workflows for a better experience, collaborating from anywhere and tracking metrics like attendance, hence helping them increase the number of hearings in a given time. Through these solutions, Tyler will be able to grow the number of clients in the legal market.
So far this year, TYL has gained numerous clients in the legal space. Its customers in the legal space include the Idaho Supreme Court, Phoenix Municipal Court, Kentucky Court of Justice, Arizona Supreme Court and Texas Office of Court Administration.
Tyler YTD Performance
Image Source: Zacks Investment Research
Tyler Gains From Expanding Client Base
So far this year, Tyler has gained numerous clients from the government, healthcare and education end markets. TYL enabled Lewis County with its Enterprise Assessment & Tax solution. The State of New Jersey extended its agreement with Tyler for its Digital Government solutions. Idaho Supreme Court transitioned to TYL’s Court Case Management Solution from on-premises to cloud deployment.
North Dakota Parks subscribed to Tyler’s cloud-based reservation software. The city of Philadelphia Sheriff’s office implemented Tyler’s Civil Process solution. Florida Department of Corrections adopted TYL’s payment and deposit solutions. Evanston Police Department in Illinois, Arizona Supreme Court and Guam Department of Corrections implemented and expanded the use of TYL’s enterprise supervision solution.
Jackson Public Schools implemented the Enterprise Resource Planning solution. Collier County, FL, went live with Budgeting Solution from Tyler. Rhode Island Department of Business Regulation implemented the State Regulatory Platform suite. The city of Edina implemented TYL’s permitting and inspection processes software. With all these major wins, Tyler is expanding its footprint in the federal and public service solutions space.