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Tyler (TYL) to Offer Correction Solution to Texas' DCSO

Zacks Equity Research
·3-min read

Tyler Technologies TYL recently announced that it has signed an agreement with the Dallas County Sheriff’s Office (“DCSO”) in Texas to provide its Enterprise Corrections solution. The integrated justice solution will automate the DCSO’s business processes while serving the county’s civil courts, criminal courts, and jail with enhanced efficiency.

Tyler’s comprehensive jail management software — Enterprise Corrections solution — ensures the safety of residents and staff, including tracking resident movements, automated alerts when security-related issues exist, and managing threat groups. It further streamlines communication between law enforcement by sharing critical information (warrant, hearing, sentencing, etc.) and workflow between courts and jails.

The solution will enable Dallas County’s jail staff to perform tasks accurately avoiding the need to rekey data. Tyler’s Enterprise Corrections solution also tracks resident bookings and releases while maintaining protective layers of security around sensitive data. Moreover, it will further ensure that the citizens of Dallas County receive quality law enforcement services, remaining fair and respectful to all jail residents.

It is worth mentioning that Tyler has been benefiting from the public sector’s ongoing transition from on-premise and outdated systems to scalable cloud-based systems. It has been consistently enhancing its core software applications and expanding complementary product and service portfolios to cater to the changing needs of customers while keeping pace with technological advancements.

The company has been pursuing strategic takeovers to broaden its product and service offerings, enter new markets related to local governments, attract clients, and expand geographically. In May, Tyler acquired Quatred, a systems integrator and solution provider that assists clients by implementing advanced touchless technologies, including barcoding. However, Tyler faces significant integration risks due to frequent acquisitions.

 

Tyler Technologies, Inc. Price and Consensus

Tyler Technologies, Inc. price-consensus-chart | Tyler Technologies, Inc. Quote

Zacks Rank & Key Picks

Tyler currently carries a Zacks Rank #3 (Hold). Shares of TYL have decreased 13% in the past year.

Some better-ranked stocks from the broader Computer and Technology sector are Clearfield CLFD, Silicon Laboratories SLAB, and Taiwan Semiconductor TSM. While Clearfield and Silicon Laboratories flaunt a Zacks Rank #1 (Strong Buy), TSM carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Clearfield's fourth-quarter fiscal 2022 earnings has been revised upward by 10-80 cents per share over the past 30 days. For fiscal 2022, earnings estimates have moved 36 cents north to $3.13 per share in the past 30 days.

Clearfield’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 33.9%. Shares of CLFD have soared 192.7% in the past year.

The Zacks Consensus Estimate for Silicon Laboratories’ third-quarter 2022 earnings has increased 22.9% to $1.02 per share over the past 30 days. For 2022, earnings estimates have moved 14.2% up to $4.18 per share in the past 30 days.

Silicon Laboratories’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 63.6%. Shares of SLAB have decreased 7.2% in the past year.

The Zacks Consensus Estimate for Taiwan Semiconductor's third-quarter 2022 earnings has been revised 10 cents northward to $1.70 per share over the past 30 days. For 2022, earnings estimates have moved 41 cents north to $6.30 per share in the past 30 days.

TSM's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 3.9%. Shares of the company have decreased 19.1% in the past year.


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Taiwan Semiconductor Manufacturing Company Ltd. (TSM) : Free Stock Analysis Report
 
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