Today, we’re looking at a government contractor that thrives in the lockdown era…
Around the U.S., state and local governments have closed many businesses in response to the coronavirus outbreak. But the governments themselves are still running, albeit with most officials using software to work remotely… minimizing face-to-face interactions with colleagues or the public.
Tyler Technologies (TYL) is a $15 billion software company.
Its products are created specifically for government needs, like assessing property taxes or issuing parking tickets.
In ordinary times, these services are simply more efficient than paper records…
But right now, having all the data accessible online is essential.
Tyler also just launched its new “Virtual Court,” a videoconference product designed for the justice system… And 60 courts had already signed up within the first few weeks.
TYL shares are up more than 60% over the past year, and they recently hit a new all-time high. This tech stock was already soaring. Now, COVID-19 is another tailwind for Tyler Technologies…
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Source: Daily Wealth’s Market Notes