Amdocs Remains Poised For Long-Term Growth Despite Risks
Zacks Investment Research | May 22, 2017 08:47AM ET
On May 22, we issued an updated research report on business software & services provider Amdocs Limited (NASDAQ:DOX) .
Formed in 1982, Amdocs is a leading provider of customer relationship management and billing software to communications service providers. Amdocs performed relatively well in the second quarter of fiscal 2017, with revenues improving on a year-over-year basis due to solid execution across multiple dimensions of its business and continuous project wins. GAAP earnings for the quarter also improved to $112.6 million or 76 cents a share from $107.7 million or 71 cents per share in the year-earlier quarter.
For fiscal 2017, Amdocs further updated its guidance on favorable growth dynamics and strength in the business model. The company expects revenues to be up 3–5% year over year compared with the earlier projection of a rise of 1.5–5.5%. The company remains on track to deliver non-GAAP earnings per share growth of 4.5–8.5%. This augurs well for the long-term growth of the company.
Amdocs continues to boost shareholders’ wealth by continuously repurchasing shares and paying regular dividends to its shareholders. Moreover, the company has increased its quarterly dividend by 12.8% to 22 cents per share. With a diligent execution of operational plans, Amdocs has outperformed the Zacks categorized Original post
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