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Tyler (TYL) Signs Deal to Enhance Maryland's Cloud Capabilities
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Tyler (TYL - Free Report) recently signed a five-year contract with Maryland to provide a fully cloud-hosted infrastructure, which is accessible to all residents of the state. The contract can be extended for five more years at the state’s discretion.
Tyler has partnered with Maryland for a long time, offering digital solutions for the past 12 years. The company provides more than 160 digital government services, such as Maryland Business Express and Maryland.gov and collaborates with 110 government entities in the state.
The market, where the company operates within the public sector, is one of the largest in the United States, covering approximately 3,000 counties, numerous public departments across 36,000 towns and cities, and more than a thousand schools nationwide.
These prospects offer numerous opportunities to TYL, such as the deployment of IT services and solutions for property assessment, judicial functions, record-keeping, finance, road maintenance, law enforcement, public safety, healthcare and election administration.
Additionally, Tyler is benefiting from the ongoing transition within the public sector, where various departments are shifting from on-premise and outdated solutions to scalable cloud-based systems.
The recent agreement with Maryland adds to Tyler’s portfolio. This multi-year transition is expected to significantly enhance the company’s recurring revenues, which currently contribute to a major portion of Tyler's revenues.
Zacks Rank and Stocks to Consider
Currently, Tyler carries a Zacks Rank #3 (Hold). Shares of TYL have gained 30.3% in the past year.
The Zacks Consensus Estimate for BlackLine’s first-quarter 2024 earnings has remained unchanged at 47 cents per share for the past 90 days. Shares of BL have lost 4% in the past year.
The Zacks Consensus Estimate for Adobe’s first-quarter 2024 earnings has been revised by 12 cents northward to $4.38 per share in the past 90 days. Shares of ADBE have rallied 57% in the past year.
The Zacks Consensus Estimate for DELL’s first-quarter 2024 earnings has been revised downward by 5 cents to $1.35 in the past seven days. Shares of DELL have surged 211.7% in the past year.
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Tyler (TYL) Signs Deal to Enhance Maryland's Cloud Capabilities
Tyler (TYL - Free Report) recently signed a five-year contract with Maryland to provide a fully cloud-hosted infrastructure, which is accessible to all residents of the state. The contract can be extended for five more years at the state’s discretion.
Tyler has partnered with Maryland for a long time, offering digital solutions for the past 12 years. The company provides more than 160 digital government services, such as Maryland Business Express and Maryland.gov and collaborates with 110 government entities in the state.
The market, where the company operates within the public sector, is one of the largest in the United States, covering approximately 3,000 counties, numerous public departments across 36,000 towns and cities, and more than a thousand schools nationwide.
Tyler Technologies, Inc. Price and Consensus
Tyler Technologies, Inc. price-consensus-chart | Tyler Technologies, Inc. Quote
These prospects offer numerous opportunities to TYL, such as the deployment of IT services and solutions for property assessment, judicial functions, record-keeping, finance, road maintenance, law enforcement, public safety, healthcare and election administration.
Additionally, Tyler is benefiting from the ongoing transition within the public sector, where various departments are shifting from on-premise and outdated solutions to scalable cloud-based systems.
The recent agreement with Maryland adds to Tyler’s portfolio. This multi-year transition is expected to significantly enhance the company’s recurring revenues, which currently contribute to a major portion of Tyler's revenues.
Zacks Rank and Stocks to Consider
Currently, Tyler carries a Zacks Rank #3 (Hold). Shares of TYL have gained 30.3% in the past year.
Some better-ranked stocks from the broader technology sector are BlackLine (BL - Free Report) , Adobe (ADBE - Free Report) and Dell Technologies (DELL - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for BlackLine’s first-quarter 2024 earnings has remained unchanged at 47 cents per share for the past 90 days. Shares of BL have lost 4% in the past year.
The Zacks Consensus Estimate for Adobe’s first-quarter 2024 earnings has been revised by 12 cents northward to $4.38 per share in the past 90 days. Shares of ADBE have rallied 57% in the past year.
The Zacks Consensus Estimate for DELL’s first-quarter 2024 earnings has been revised downward by 5 cents to $1.35 in the past seven days. Shares of DELL have surged 211.7% in the past year.