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MarketScreener Homepage  >  Equities  >  Nyse  >  Tyler Technologies, Inc.    TYL

TYLER TECHNOLOGIES, INC.

(TYL)
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Tyler Technologies says it was hacked with ransomware, election programs safe

09/24/2020 | 04:19pm EST

SAN FRANCISCO, Sept 24 (Reuters) - Tyler Technologies said the hacking attack against it disclosed Wednesday used ransomware, which encrypts company files and demands payment to decrypt them again.

In a statement to Reuters, the vendor of software to counties and municipalities said the hacker only reached internal networks.

Tyler said the attack had no impact on the software it hosts for clients, and the software it sells that displays election results is hosted by Amazon and so was not at risk.

"We have confirmed that the malicious software the intruder used was ransomware. Because this is an active investigation, we will not provide any additional specifics relating to our incident response or our investigation at this time," said the company, based in Plano, Texas.

"All indications are that the impact of this incident is limited to our internal corporate network and phone systems, and that there has been no impact on software we host for our clients. Our hosted environment is separate and segregated from our internal corporate environment."

The company said Wednesday it had notified law enforcement and brought in security specialists.

The hack prompted wide concern among local officials because some of Tyler's programs are used to display election results, and U.S. intelligence agencies recently warned that foreign governments might try to sow mistrust by altering sites that report votes, which is seen as easier than changing the results themselves.

Some clients also said they were worried the hacker could use Tyler's administrative access to breach local versions of its programs, such as those for dispatching emergency responders.

Though Thursday's disclosures make those scenarios less likely, they do not rule them out. Some national governments have worked in league with ransomware gangs or used the malicious programs as cover for espionage or destructive missions.

Tyler, the FBI and the Department of Homeland Security all declined to answer questions on the extent of the hack, the risk of related breaches and the suspected identity of the perpetrators. (Reporting by Joseph Menn Editing by Chris Reese and David Gregorio)


© Reuters 2020
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Financials (USD)
Sales 2020 1 125 M - -
Net income 2020 189 M - -
Net Debt 2020 - - -
P/E ratio 2020 95,3x
Yield 2020 -
Capitalization 17 426 M 17 426 M -
Capi. / Sales 2020 15,5x
Capi. / Sales 2021 14,4x
Nbr of Employees 5 511
Free-Float 82,5%
Chart TYLER TECHNOLOGIES, INC.
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Tyler Technologies, Inc. Technical Analysis Chart | TYL | US9022521051 | MarketScreener
Technical analysis trends TYLER TECHNOLOGIES, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 419,55 $
Last Close Price 432,12 $
Spread / Highest target 8,77%
Spread / Average Target -2,91%
Spread / Lowest Target -21,3%
EPS Revisions
Managers
NameTitle
H. Lynn Moore President, Chief Executive Officer & Director
John S. Marr Executive Chairman
Brian K. Miller Chief Financial Officer, Treasurer & EVP
Matthew B. Bieri Chief Information Officer
Jeff Green Chief Technology Officer
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