Domain expertise and sticky customer base prepare Amdocs for solid growth.
Amdocs’ results for the fourth quarter and fiscal 2016 track well with our expectations and management’s guidance. Management expects modest top line growth and slight margin improvement in 2017, both of which are well within reach in our opinion, given the decent 12-month project backlog that is up 3% year-over-year. We continue to believe that Amdocs is worthy of a narrow moat rating, aided by the stickiness of its customer base and high switching costs associated with its BSS/OSS solutions. A...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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