Tyler Technologies, Inc.


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SKU: TYL Category:


Tyler Technologies has zoomed past the target price from our previous report as the company reported a stellar result surpassing Wall Street expectations. The quarter marked the completion of Tyler’s acquisition of NIC, a leading provider of digital government solutions and payments processing with a client base of around 7,100 federal, state, and local government agencies. While the deal did increase the debt on Tyler’s balance sheet, the company’s financial situation has become even more robust after a 57.7% jump in subscription revenues, reaching a level of $319.2 million. Subscriptions account for nearly two-third of the company’s software revenues and render a strong foreseeability to Tyler’s business. The 50.1% growth in bookings to a level of $464 million is also a very positive development. We are bullish on Tyler and upgrade it to an ‘Outperform’ rating with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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