Yahoo Finance Tyler's (TYL) Odyssey Suite to Modernize Choctaw Judicial System
Tyler Technologies TYL announced last week that it is collaborating with Choctaw Nation of Oklahoma to create a sophisticated new court system for the tribal government.
Tyler will integrate its Odyssey solution suite into the Choctaw Judicial System over the next 18 months. The Odyssey solution suite will include integration of Odyssey Case Manager, Odyssey Attorney Manager, Odyssey Judge Edition, Tyler Jury Manager, e-filing, and Odyssey Guide & File.
With the new court system, Choctaw Nation of Oklahoma aims to improve access to justice for all its tribal citizens and enhance collaboration across justice agencies. The new system will save time for tribal members, judges, and attorneys by eliminating paper and in-person filing.
The tribal government of Choctaw Nation of Oklahoma was one of the first to implement Tyler’s integrated solutions to upgrade from a manual set up to automated cloud-based judicial practices. In fact, last year, the company awarded Tyler’s Excellence Award 2020 to the Choctaw Nation of Oklahoma Judicial Branch for its partnership in modernizing and transforming the court’s judicial system.
Of late, most of the courts are increasingly embracing new technologies for smooth functioning amid the ongoing pandemic-led work from home wave and social distancing norms adopted by governments worldwide. According to the company’s press release, more than 21 million criminal and civil filings have been made over the last five years.
Tyler Technologies, Inc. Price and Consensus
Tyler Technologies, Inc. price-consensus-chart | Tyler Technologies, Inc. Quote
Tyler has been benefiting from the public sector’s on-going transition from on-premise and out-dated systems to scalable cloud-based systems. The company has been continuously advancing 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.
During third-quarter 2021, the company added 114 new subscription-based arrangements and converted 46 existing on-premises clients, accounting for approximately $56 million in total contract value.
Tyler has been pursuing strategic takeovers to broaden its product and service offerings, enter new markets related to local governments, attract clients and expand geographically. Investments and acquisitions are helping it stay ahead of the curve, and capitalize on new and exciting prospects.
In the third quarter, the company gained primarily from the post-acquisition contributions of NIC. Its non-GAAP revenues grew 61.1% year over year to $460.6 million. It recently completed acquisitions of VendEngine, a fintech company, and Arx, a cloud-based software service provider.
Zacks Rank & Other Key Picks
Tyler currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology sector are Salesforce CRM, Alphabet GOOG and Harmonic HLIT, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term earnings growth rate of Salesforce, Alphabet and Harmonic are pegged at 16.8%, 26% and 15%, respectively.
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