We maintain our Outperform recommendation for
Amdocs (DOX) following its strong results for the fiscal third
quarter of fiscal 2009. The company has industry-leading
technology integration products for large
transformational projects and managed services.
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
North America, operations in other regions have started
gaining momentum.
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