Amdocs Ltd. (NASDAQ: DOX) posted revenue of $927M, +2.9% y/y. Adjusting for an FX headwind of ~$9M, revenue would have been ~ $936M. EPS was $0.84, up y/y from $0.78. The company closed FY15 with a record level of backlog, posting $3.08B, up $70M sequentially. Operating margins were up y/y to 16.9% from 16.8%. DOX continues targeting operating margins in the 16.2-17.2% range.

On its earnings call, DOX highlighted several 4Q transactions including: the extension of DOX's relationship with Bell Canada for 5-years through 2022, a 3-year services agreement with Canadian service provider Rogers Communications, an upgrade of BSS systems at Brazilian carrier Oi, deployment of convergent billing by M1 Limited in Singapore, selection of DOX by Telefonica Argentina for a data management optimization project, and selection of DOX by Singtel for digital transformation in Singapore and Australia.

DOX increased its annual per share dividend to $0.78 (~1.3% yield) from $0.68.

Oppenheimer analyst, Shaul Eyal, believes "Telco competition and increasing network complexity are benefiting DOX, and as the go-to vendor for transformational projects, the company is winning important deals. DOX's dividend increase is just the latest action demonstrating the company's shareholder friendly approach to capital deployment."

Oppenheimer reiterated its Outperform rating and $65 target

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Shares of Amdocs Ltd. closed at $60.10 yesterday.