TYL

Tyler Technologies, Inc.

409.34
USD
0.52%
409.34
USD
0.52%
300.85 557.55
52 weeks
52 weeks

Mkt Cap 16.72B

Shares Out 40.84M

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Tyler (TYL) Boosts ERP Solution Portfolio With Quatred Buyout

Tyler Technologies TYL recently announced the acquisition of Quatred, a Center Barnstead, NH-based tech company. The company didn’t disclose the financial terms of the transaction. Per the agreement, the current employees of Quatred will join as full-time staff at Tyler. Founded in 2005 by Marc Doyon, Quatred is a systems integrator and solution provider assisting clients in implementing advanced touchless technologies, including bar coding and Radio-Frequency Identification. Tyler and Quatred have been partners since 2018, when the former had integrated the latter’s QUICK (Quatred Universal Interface Control Kit) solution, which is a wireless, service-oriented architecture foundation providing rapid deployment. The solution interacts with TYL’s enterprise resource planning (“ERP”) solution in real-time, which helps clients track assets and inventory transaction. Therefore, the acquisition is expected to further fortify Tyler’s ERP solution capabilities. The company intends to integrate Quatred’s bar coding technology into its additional solutions and strengthen its current ERP and enterprise asset maintenance offerings. The company revealed that Quatred is currently serving more than 150 public sector clients in the United States and many of them are already using Tyler’s ERP solution for asset and inventory management. Therefore, the acquisition will help Tyler cross-sell and drive growth opportunities in public safety and public administration. Acquisitions Driving Growth In recent years, Tyler’s growth trajectory has been driven by acquisitions. 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 February 2022, the company acquired US eDirect, a provider of technology solutions for campground and outdoor recreation management. In September 2021, TYL acquired Arx to integrate Arx under its Public Safety Division. In the same month, it completed the acquisition of VendEngine for $84 million in cash. VendEngine focuses on providing cloud-based software for correctional facilities. The company offers financial management applications and communication platforms that are used by inmates of jails and prisons. In April 2021, Tyler completed the acquisition of NIC, which helped the company foray into digital government solutions and payments. The company also purchased a cloud-based school scheduling platform, ReadySub, in April 2021. The ReadySub acquisition has helped the company bring more comprehensive schooling solutions to its school district clients by assisting them in implementing all-in-one workflows. Tyler is likely to pursue more acquisitions that will strategically align with its current offerings. Along with investments in R&D, acquisitions are likely to strengthen the firm’s product offerings and clientele over the long run. Zacks Rank & Other Stocks to Consider Currently, Tyler carries a Zacks Rank #2 (Buy). Some other top-ranked stocks from the broader technology sector are ON Semiconductor ON, Analog Devices ADI and MaxLinear MXL. While ON and Analog Devices each currently sport a Zacks Rank #1 (Strong Buy), MaxLinear carries a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank stocks here. The Zacks Consensus Estimate for ON's second-quarter 2022 earnings has been revised to $1.26 per share from $1.05 over the past 30 days. For 2022, earnings estimates have moved north by 17.5% to $4.91 per share in the past 30 days. ON's earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 2.8%. Shares of ON have rallied 57.1% in the past year. The Zacks Consensus Estimate for Analog Devices' third-quarter fiscal 2022 earnings has been revised upward by 24 cents to $2.42 per share over the past 30 days. For fiscal 2022, earnings estimates have moved north by 9.6% to $9.24 per share in the past 30 days. Analog Devices' earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 7.7%. Shares of ADI have increased 1.7% in the past year. The Zacks Consensus Estimate for MaxLinear's second-quarter 2022 earnings has been revised upward by 10 cents to $1.02 per share over the past 60 days. For 2022, the Zacks Consensus Estimate for MaxLinear's earnings has moved north by 36 cents to $4.07 per share in the past 60 days. MaxLinear's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 9.6%. Shares of MXL have increased 7.8% in the past year. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year. Free: See Our Top Stock and 4 Runners Up >> Click to get this free report Analog Devices, Inc. (ADI): Free Stock Analysis Report MaxLinear, Inc (MXL): Free Stock Analysis Report ON Semiconductor Corporation (ON): Free Stock Analysis Report Tyler Technologies, Inc. (TYL): Free Stock Analysis Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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