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Tyler (TYL) to Streamline Illinois Lake County's Public Safety

Tyler Technologies TYL recently announced that it has signed a contract with the Lake County 911 Consolidation Consortium, Illinois, for providing a comprehensive suite of public safety solutions. Lake County 911 Consolidation Consortium includes more than 50 law and fire agencies that are currently using public safety solutions from multiple vendors.

Tyler’s solutions will include its New World Enterprise CAD, mobile messaging, law enforcement records management, jail management, Brazos electronic citation, SoftCode civil process, and Socrata data and insights.

With Tyler’s integrated solutions, the Consortium (which is the third most populous county in Illinois with nearly 715,000 people), will be able to reduce its overall long-term costs of using public safety solutions from multiple vendors. The streamlined public safety system includes computer-aided dispatch, law enforcement records management, jail management, electronic citations, and data analytics.

The contract will not only improve efficiencies of the Consortium’s staff and safety for residents but also streamline dispatch response and information sharing. Tyler’s solution suite will offer faster emergency response, improved data sharing within an analytics platform, eliminating multiple platforms. The Consortium’s partner agencies will share better coordination with the streamlined public safety system.

Of late, Tyler has been benefiting from the public sector’s ongoing transition from on-premise and outdated systems to scalable cloud-based systems.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 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.

In the first week of November, it collaborated with Choctaw Nation of Oklahoma to create a sophisticated new court system for the tribal government.

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 the acquisitions of VendEngine, a fintech company, and Arx, a cloud-based software service provider.

Zacks Rank & Other Stocks to Consider

Tyler currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks in the broader technology sector are Advanced Micro Devices AMD, Qualcomm QCOM, and TD SYNNEX SNX, all carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for Advanced Micro Devices’ fourth-quarter 2021 earnings has been revised upward by 8 cents to 76 cents per share over the past 30 days. For 2021, earnings estimates have moved upward by 15 cents to $2.65 per share in the past 30 days.

Advanced Micro Devices’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 14%. Shares of AMD stock have rallied 66.6% in the year-to-date (YTD) period.

The consensus mark for Qualcomm’s first-quarter fiscal 2022 earnings has been raised to $3 per share from $2.63 in the past 30 days. For fiscal 2022, earnings estimates have been revised upward by 1 cent to $10.52 per share in the past seven days.

Qualcomm’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 11.2%. Shares of QCOM stock have gained 19% YTD.

TD SYNNEX’s consensus estimate for fourth-quarter fiscal 2021 earnings has been revised upward by 11.7% to $2.67 per share over the past 60 days. For fiscal 2021, earnings estimates have been moved upward by 6.5% to $8.95 per share over the past 60 days.

TD SYNNEX’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 15.4%. Shares of SNX stock have appreciated 39.5% YTD.


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