Endava (NYSE:DAVA) Shares Gap Up – What’s Next?

Endava plc (NYSE:DAVA)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $30.51, but opened at $32.50. Endava shares last traded at $29.35, with a volume of 115,304 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently issued reports on DAVA shares. Bank of America assumed coverage on Endava in a research note on Friday, November 22nd. They issued a “neutral” rating and a $29.00 price objective for the company. Citigroup dropped their price target on shares of Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, October 28th. Guggenheim decreased their price objective on Endava from $45.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. TD Cowen raised their target price on Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Susquehanna reduced their price target on Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.10.

Endava Stock Performance

The company has a fifty day moving average price of $31.65 and a 200 day moving average price of $29.27. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market cap of $1.54 billion, a P/E ratio of 236.91, a P/E/G ratio of 2.26 and a beta of 1.22.

Endava (NYSE:DAVA) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $197.33 million. Endava had a return on equity of 0.89% and a net margin of 0.74%. On average, equities analysts expect that Endava plc will post 0.57 EPS for the current year.

Institutional Trading of Endava

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAVA. Mawer Investment Management Ltd. lifted its holdings in shares of Endava by 613.0% in the third quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company’s stock valued at $30,610,000 after purchasing an additional 1,030,403 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Endava by 22.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,533,111 shares of the company’s stock valued at $140,073,000 after acquiring an additional 842,433 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings in Endava by 80.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,806,044 shares of the company’s stock worth $55,807,000 after acquiring an additional 805,903 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Endava by 187.5% in the 4th quarter. JPMorgan Chase & Co. now owns 858,894 shares of the company’s stock worth $26,540,000 after acquiring an additional 560,190 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Endava in the fourth quarter valued at about $14,698,000. 62.23% of the stock is owned by institutional investors.

About Endava

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.