PLANO, Texas - Tyler Technologies, Inc. (NYSE: NYSE:TYL), a major provider of integrated software and technology services for the public sector, has announced a series of executive leadership changes. These changes include the introduction of a chief administrative officer role and the appointment of new chief marketing and chief legal officers. With a market capitalization of $25 billion and an InvestingPro Financial Health score rated as "GOOD," Tyler Technologies continues to demonstrate strong market positioning, though current analysis suggests the stock is trading above its Fair Value.
The company’s Chief Marketing Officer, Samantha Crosby, has declared her plan to retire in June 2025. Crosby, who has been with Tyler since 2008, has been instrumental in developing Tyler’s brand and marketing strategies. Arik Flanders, previously vice president of Marketing Shared Services, will succeed Crosby as the new chief marketing officer. Flanders, who joined Tyler in October 2023, has a background with Texas Instruments (NASDAQ:TXN) where he held various global management roles. For deeper insights into Tyler Technologies’ leadership impact and comprehensive financial analysis, investors can access the detailed Pro Research Report available on InvestingPro, which covers over 1,400 top US stocks.
Abby Diaz, formerly the chief legal officer at Tyler, has been promoted to the new position of chief administrative officer. Diaz will oversee legal, internal audit, data privacy, corporate governance and responsibility, and corporate communications, while continuing her role as corporate secretary.
Bill Van Asselt has been promoted to fill the chief legal officer position. Van Asselt came to Tyler through the acquisition of NIC (NASDAQ:EGOV), Inc. in 2021, where he served as general counsel.
These executive changes are part of Tyler’s commitment to continuous growth and innovation, as stated by Lynn Moore, president and CEO of Tyler Technologies. The company, headquartered in Plano, Texas, is known for its comprehensive solutions that help government entities operate more efficiently and transparently.
Tyler Technologies has a significant market presence with over 44,000 installations in various locations worldwide, including all 50 U.S. states, Canada, the Caribbean, Australia, and other international locations.
The information in this article is based on a press release statement from Tyler Technologies.
In other recent news, Tyler Technologies reported a 9.8% year-over-year increase in total revenues, reaching $543.3 million in the third quarter. The company’s subscription and Software (ETR:SOWGn) as a Service (SaaS) revenues saw significant increases of 17.6% and 20.3% respectively. Furthermore, new software bookings surged 78% to $105.6 million. Truist Securities and Loop Capital maintained their Buy ratings on Tyler Technologies, with Truist Securities keeping its price target at $685, while Loop Capital raised its target to $680. Piper Sandler and Baird also increased their price targets to $701 and $700 respectively, reflecting their confidence in the company’s continued growth. Tyler Technologies also secured a $35 million contract with the Kentucky Court of Justice and updated its 2024 guidance, projecting total revenues between $2.125 billion and $2.145 billion. The company anticipates GAAP diluted EPS to range from $6.13 to $6.28, and a free cash flow margin between 21% and 23%. These are recent developments in the company’s financial performance and analyst outlooks.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.