Endava (NYSE:DAVA) Shares Up 6.2% – Here’s What Happened

Endava plc (NYSE:DAVA) traded up 6.2% during trading on Monday . The stock traded as high as $19.17 and last traded at $18.54. 126,769 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 495,020 shares. The stock had previously closed at $17.45.

Analyst Upgrades and Downgrades

DAVA has been the subject of a number of recent analyst reports. Morgan Stanley lifted their target price on Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Susquehanna decreased their target price on shares of Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a report on Friday, February 21st. Finally, Needham & Company LLC cut their price target on shares of Endava from $43.00 to $38.00 and set a “buy” rating for the company in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.10.

Endava Trading Up 15.8 %

The stock has a market capitalization of $1.16 billion, a P/E ratio of 178.55, a price-to-earnings-growth ratio of 2.26 and a beta of 1.33. The stock’s fifty day moving average price is $25.10 and its two-hundred day moving average price is $27.18. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21.

Endava (NYSE:DAVA) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.18). The business had revenue of $250.63 million during the quarter, compared to the consensus estimate of $197.33 million. Endava had a return on equity of 0.89% and a net margin of 0.74%. Equities research analysts forecast that Endava plc will post 0.57 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Endava by 28.5% in the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the company’s stock worth $46,000 after acquiring an additional 331 shares in the last quarter. Precision Wealth Strategies LLC grew its position in Endava by 4.5% during the 4th quarter. Precision Wealth Strategies LLC now owns 8,954 shares of the company’s stock valued at $277,000 after purchasing an additional 383 shares during the last quarter. Assetmark Inc. increased its stake in Endava by 93.1% during the 4th quarter. Assetmark Inc. now owns 985 shares of the company’s stock valued at $30,000 after purchasing an additional 475 shares in the last quarter. GAMMA Investing LLC raised its holdings in Endava by 86.4% in the fourth quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $50,000 after buying an additional 745 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in Endava by 114.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company’s stock worth $46,000 after buying an additional 786 shares during the last quarter. 62.23% of the stock is owned by hedge funds and other institutional investors.

Endava Company Profile

Endava plc provides technology services for clients in the consumer products, healthcare, mobility, and retail verticals in North America, Europe, the United Kingdom, and internationally. It offers ideation and production services in the payments and financial services, telecommunications, media, and technology verticals; and business analysis, data analytics, program management, digital product strategy, private equity value enhancement, IT strategy, architecture, extended reality, machine learning and artificial intelligence, product design, and user experience and visual design services.