Morningstar

Tyler Technologies Inc TYL

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Stock XNYS Rating as of
$584.11 +5.47 (0.95%)
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Company Report

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Tyler Reigns Supreme in Local Government Software

Dan Romanoff

We view Tyler Technologies as the clear leader in a sleepy and underserved public service software niche market. We believe there is a decadelong runway for normalized top-line growth near 10% at Tyler, especially as demand for SaaS accelerates and the need to modernize local governments’ legacy enterprise resource planning systems intensifies.

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Price vs Fair Value

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TYL is trading within a range we consider fairly valued.
Price
$584.11
Fair Value
$359.00
Uncertainty
Medium
1-Star Price
$447.00
5-Star Price
$983.00
Economic Moat
Zlblf
Capital Allocation
Mczvpzl

Bulls Say, Bears Say

Bulls

Tyler is the runaway market leader seeking to upgrade a large and underserved local government and related public institution market that we believe is ripe for modernization.

Bears

Despite Tyler's recent success, its revenue growth has not been much better than the average software firm over the past few years.

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News

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Trading Information

Previous Close Price
$578.64
Day Range
$573.55–584.45
52-Week Range
$361.16–598.93
Bid/Ask
$417.95 / $643.35
Market Cap
$24.93 Bil
Volume/Avg
125,966 / 237,127

Key Statistics

Price/Earnings (Normalized)
67.69
Price/Sales
12.40
Dividend Yield (Trailing)
0.00%
Dividend Yield (Forward)
0.00%
Total Yield
—

Company Profile

Tyler Technologies provides a full suite of software solutions and services that address the needs of cities, counties, schools, courts and other local government entities. The company’s three core products are Munis, which is the core ERP system, Odyssey, which is the court management system, or CMS, and payments. The company also provides a variety of add-on modules and offers outsourced property tax assessment services.
Sector
Technology
Industry
Software - Application
Stock Style Box
Mid Growth
Total Number of Employees
7,360
Website
https://www.tylertech.com

Competitors

Valuation

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Metric
TYL
ORCL
MSFT
Price/Earnings (Normalized)
 67.6929.0735.32
Price/Book Value
 7.9542.9711.55
Price/Sales
 12.408.8212.71
Price/Cash Flow
 59.2223.6026.69
Price/Earnings
TYL
ORCL
MSFT

Financial Strength

Metric
TYL
ORCL
MSFT
Quick Ratio
 0.970.591.06
Current Ratio
 1.060.721.27
Interest Coverage
 20.154.4736.65
Quick Ratio
TYL
ORCL
MSFT

Profitability

Metric
TYL
ORCL
MSFT
Return on Assets (Normalized)
 7.95%11.77%18.96%
Return on Equity (Normalized)
 12.63%259.97%37.13%
Return on Invested Capital (Normalized)
 10.38%20.14%28.06%
Return on Assets
TYL
ORCL
MSFT

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