Tyler (TYL) Braces Product Portfolio, Rides On New Clients

Tyler Technologies Inc. (NYSE:TYL) is bolstering its product portfolio to cater to the growing needs of its clients.

Recently, the company launched Law Enforcement Analytics, a Socrata-based cloud application for public safety command staff.

Reportedly, the new solution will enable public safety staff to examine crime statistics in their community. The tool will help identify crimes that are rampant or have subsided in a specific zone, indicate and envision where crimes were committed and pinpoint those that are the most common types.

Tyler’ Traction From Client Wins

Tyler is gaining traction from robust growth in new business. The company is benefitting from the surging SaaS adoption in public sector, especially among the local governments.

Investments and acquisitions are helping it improve its competitive edge and address new and expanding opportunities. Its broad line of software solutions and services which aid in addressing the IT needs of major areas of operations for cities, counties, schools and other government entities is a tailwind.

A solid uptrend in subscription revenues, backed by large SaaS contract wins, is a key driver for the company.

Tyler recently signed an agreement with the District of Columbia Superior Court (DCSC), which will deploy a suite of Tyler’s Odyssey solutions including Odyssey Case Manager, Odyssey Financial Manager, Odyssey Judge Edition, Odyssey Clerk Edition and Odyssey File & Serve.

The city of Boerne, TX has also gone live with Tyler’s MyCivic citizen engagement application.

The company also entered into an agreement with the city of Pembroke Pines, FL for its Munis, EnerGov and ExecuTime solutions for more than $6.5 million.

Further, the company announced that its Infinite Visions ERP and Tyler Content Manager solutions will be deployed by Phoenix, AZ-based Paradise Valley Unified School District (USD).

However, uncertainty around the ability to frequently snap up significant deals is a concern. The company anticipates to witness a normal mix of some plum deals and more traditional mid-sized agreements through the rest of 2019.

Tyler faces fierce competition in maximum end markets from leading players like Oracle (NYSE:ORCL) , SAP SE (NYSE:SAP) , Workday (NASDAQ:WDAY) et al. As stiff rivalry exerts a lot of pricing pressure, it makes us apprehensive about the company’s earnings potential.

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