We maintain our Outperform recommendation for Amdocs Ltd. (DOX), following its strong results for the fiscal fourth quarter of 2009. The company has industry-leading technology integration products for managed services and large transformational projects.

We believe long-term fundamentals for Amdocs remain firm due to the transition of telecom service providers to converged and
consolidated solutions. Amdocs maintains a very strong financial position with healthy order backlog.

Recently, the company has won a series of large managed services contracts in various parts of the world. Except Europe, operations in other regions have started gaining momentum.

Zacks Investment Research

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