Amdocs Limited DOX reported fourth-quarter fiscal 2020 non-GAAP earnings of $1.23 per share that beat the Zacks Consensus Estimate by 3.4% and increased 13.9% year over year.Revenues of $1.05 billion also surpassed the consensus mark by 1.8% and were up 2.2% year over year. At constant currency (cc), revenues increased 1.8%.Quarterly DetailsNorth America revenues (64.7% of total revenues) grew 5.8% year over year to $681.6 million in the reported quarter. Moreover, Europe revenues (15.7% of total revenues) of $165.3 million increased 5.9% year over year.However, Rest of the World revenues (19.6% of total revenues) declined 10.4% year over year to $206 million.Managed services revenues (58% of total revenues) climbed 4.7% year over year to $610.5 million. Amdocs Limited Price, Consensus and EPS Surprise Amdocs Limited price-consensus-eps-surprise-chart | Amdocs Limited QuoteThe company ended the quarter with a 12-month backlog of $3.62 billion, up 3.7% year over year.Meanwhile, research & development expenses as percentage of revenues increased 40 basis points (bps) on a year-over-year basis to 7.1%.However, selling, general & administrative expenses as percentage of revenues decreased 220 bps year over year to 9.7%.Operating margin contracted 10 bps year over year to 17.2%.Balance Sheet and Cash FlowAmdocs had cash and cash equivalents of $983.9 million as of Sep 30, 2020, up from $1.19 billion on Jun 30, 2020.Cash flow from operating activities was $204.7 million, up from $186.7 million recorded in the previous quarter and $213.6 million in the year-ago quarter.Free cash flow was $145.1 million compared with the previous quarter’s $145.4 million and $179.3 million reported in the year-ago quarter.During fiscal fourth quarter, the company repurchased shares worth $91 million. Amdocs’ board of directors approved the payment of a quarterly dividend of $0.3275 per share. The dividends will be paid out on Jan 22, 2021.Amdocs’ board also approved a 10% increase in quarterly cash dividend payment to 36 cents per share.Key DevelopmentsAmdocs completed the acquisition of Openet during the reported quarter. The company also won a contract from AT&T T which selected Openet’s 5G solution to quickly launch and monetize new 5G services on the cloud.Moreover, it signed a new multi-year strategic agreement with Amazon’s AMZN cloud arm AWS to bring its cloud-native BSS offerings and wide range of services to jointly address the rapidly growing cloud market.Moreover, Amdocs announced the divestiture of OpenMarket for approximately $300 million cash with Infobip.GuidanceFor the first quarter of fiscal 2021, revenues are expected between $1.055 billion and $1.095 billion.Non-GAAP earnings are projected to be $1.09-$1.15 per share.Amdocs expects fiscal 2021 revenues to grow between 4% and 8% year over year. At cc, revenues are expected to grow in the 3.5-7.5% range. Openet is expected to contribute 1.5% growth, while favorable forex is likely to add 0.5%.Adjusted earnings are estimated to grow between 5% and 9%.The company expects free cash flow to be roughly $470 million.Zacks Rank & A Key PickAmdocs currently carries a Zacks Rank #3 (Hold).NVIDIA NVDA is a better-ranked stock in the broader computer & technology sector carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.NVIDIA is set to report quarterly results on Nov 18.More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.Click here for the 6 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ATT Inc. (T): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report Amazon.com, Inc. (AMZN): Free Stock Analysis Report Amdocs Limited (DOX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research