Amdocs Limited (NYSE:DOX), which develops sophisticated billing systems, has had a nice move in its stock price this year, going from $27.24 to $39.14 per share. The company is benefiting from a major trend -- the so-called "quadruple play" -- as a variety of major firms invest heavily to provide customers with a bundle of services, such as cable, wireless, wireline services, and high-speed Internet access. It's a mega trend that should last for a while.

In fiscal fourth-quarter earnings released last week, the company posted a 16% increase in revenues to $665.4 million. During this time, net income increased from $67.8 million, or $0.32 per share to $76 million or $0.35 per share. Free cash flow was $100.8 million.

Essentially, Amdocs builds technologies that help companies improve their customer care, such as selling more services, managing orders, billing, and support. The company's systems scale for the needs of mega customers (often in the telecom industry), such as AT&T (NYSE:T) and Sprint-Nextel (NYSE:S).

In fact, as these companies offer more services, it is imperative that they provide an integrated customer experience. If not, heavy customer churn is inevitable. As a result, Amdocs is certainly a big beneficiary. Yet management realizes that this will not last forever, and has made a variety of smart acquisitions, especially its deal for QPass.

QPass develops technologies to deliver mobile content and e-commerce. And it's a turnkey platform, allowing for activation, transaction processing, content sourcing, and customer care. In fact, the company has more than 180 million mobile customers and has processed more than 400 million downloads of games, ring tones, and videos.

All in all, Amdocs is positioned for growth, in terms of the short and long term. It has a variety of major contracts with telecom players, like Sprint-Nextel and AT&T, and the revenue is stable and should continue to grow as customers add new services. Furthermore, looking over the next few years, its emerging businesses, like mobile, should ripen into much bigger opportunities to drive revenue.

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AT&T is a former Stock Advisor pick.

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Fool contributor Tom Taulli does not own shares mentioned in this article. He is currently ranked 159 out of 12353 in CAPS.