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Tyler Technologies Inc TYL Stock Quote

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Morningstar‘s Stock Analysis TYL

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Is it the right time to buy or sell?

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Tyler Technologies Posts Good Quarter; Macro Pressures Have Little Impact; FVE Steady at $530

Dan Romanoff, CPA Senior Equity Analyst

Analyst Note

| Dan Romanoff, CPA |

After strong results and modest adjustments to its full-year outlook, we maintain our $530 per share fair value estimate for wide-moat Tyler Technologies and continue to view shares as attractive. Business momentum continues with strong bookings, growth in software subscriptions and transactional revenue, and incremental signs of cross-selling success between NIC and legacy Tyler. Stimulus funds from the federal government seem to be having an incrementally positive impact on demand, which management characterized as healthy. We expect the firm's full embrace of the cloud will be a drag on profitability over the next several years, but we do not anticipate much of a longer-term impact from this move. We also see margins bottoming in 2023, with revenue growth not really impacted given that most new business already arrives via subscriptions.

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Key Statistics TYL

Company Profile TYL

Business Description

Tyler Technologies provides a full suite of software solutions and services that address the needs of cities, counties, schools, courts and other local government entities. The company’s three core products are Munis, which is the core ERP system, Odyssey, which is the court management system, or CMS, and payments. The company also provides a variety of add-on modules and offers outsourced property tax assessment services.

5101 Tennyson Parkway
Plano, TX, 75024
T +1 972 713-3700
Industry Software - Application
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2020
Stock Type Slow Growth
Employees 7,143

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