Yahoo Finance Tyler Technologies (TYL) Unveils Digital Lien & Title Service
Tyler Technologies TYL recently launched an electronic lien and title service for vehicle titling in collaboration with Champ Titles, Inc. and the New Jersey Motor Vehicle Commission. This electronic system will eliminate the lengthy paper-based processes and facilitate lienholders to communicate in real time with the commission.
Moreover, this digitization is expected to bring transparency to the lien and titling process by eliminating the scope of document manipulation and obfuscation. Furthermore, the process will become more cost-effective and efficient and is expected to have reduced environmental impact.
TYL stock has gained 13.1% year to date against the Zacks Business - Software Services Industry’s decline of 4%. The outperformance reflects investors’ confidence in the company's impressive financial results in consecutive quarters, strong fundamentals and an array of customer wins.
Tyler Technologies, Inc. Price and Consensus
Tyler Technologies, Inc. price-consensus-chart | Tyler Technologies, Inc. Quote
Industry Trends to Aid TYL’s Prospects
The public sector and governments throughout the United States is focusing on increasing its efficiency by adopting technology. This bodes well for Tyler Technologies as these investments in digital transformation initiatives are translating into new deals for the company.
Tyler Technologies is also leveraging its partnership with Microsoft MSFT and Amazon’s AMZN Amazon Web Services (“AWS”) and implementing their offerings to deliver its solutions.
TYL has collaborated with Microsoft to develop core public sector functionality in MSFT’s Dynamics 365 for finance and operations. It has also been a longstanding partner of Amazon. TYL recently signed an extended collaboration agreement with AWS to accelerate the migration of its clients from on-premise to cloud ecosystem.
On the basis of expanding clientele and strong partnerships, Tyler Technologies has demonstrated a strong financial performance in the past few quarters.
The Zacks Consensus Estimate for TYL’s 2024 earnings has been revised upward by 22 cents to $9.19 per share, indicating growth of 17.8% year over year. The consensus mark for revenues is pegged at $2.12 billion, indicating 8.8% year-over-year growth.
The long-term expected earnings growth rate is 15%, significantly higher than the industry average of 10.2%.
Conclusion
We consider that Tyler Technologies represents a compelling investment opportunity due to its strong market position, consistent revenue growth, strategic partnerships, focus on innovation and favorable industry trends. Its ability to deliver essential software solutions to the public sector, combined with its commitment to innovation and strategic growth, positions it well for sustained success.
Additionally, Tyler Technologies sports a Zacks Rank #1 (Strong Buy) and has a Growth Score of B at present. Per Zacks’ proprietary methodology, stocks with a combination of a Zacks Rank #1 or 2 (Buy) and a Growth Score of A or B offer solid investment opportunities.
Therefore, considering its impressive growth profile and attractive Zacks Style Score, we believe it is the right time to invest in the stock.
Another top-ranked stock worth considering in the broader technology sector is NVIDIA Corporation NVDA. The stock currently sports a Zacks Rank #1 and has a Growth Score of A. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for NVIDIA’s fiscal 2025 revenues is currently pegged at $117.3 billion, indicating year-over-year growth of 92.6%. The consensus mark for earnings is pegged at $2.68 per share, implying year-over-year growth of 106%. Shares of NVDA have skyrocketed 166.4% year to date.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Tyler Technologies, Inc. (TYL) : Free Stock Analysis Report
