Endava (NYSE:DAVA) Shares Up 6.2% – Still a Buy?

Endava plc (NYSE:DAVA)’s share price 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 were traded 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 several recent research reports. Morgan Stanley lifted their target price on shares of Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Susquehanna cut their price objective on shares of Endava from $55.00 to $50.00 and set a “positive” rating for the company in a report on Friday, February 21st. Finally, Needham & Company LLC decreased their price objective on shares of Endava from $43.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.10.

Endava Trading Up 1.5 %

The company’s fifty day simple moving average is $26.02 and its 200-day simple moving average is $27.39. The firm has a market capitalization of $1.05 billion, a PE ratio of 161.09, a P/E/G ratio of 2.26 and a beta of 1.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90.

Endava (NYSE:DAVA) last released 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 company 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%. As a group, sell-side analysts expect that Endava plc will post 0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Endava

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp raised its stake in Endava by 33.0% in the 3rd quarter. State Street Corp now owns 80,148 shares of the company’s stock valued at $2,047,000 after purchasing an additional 19,884 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Endava during the fourth quarter worth $215,000. Robeco Institutional Asset Management B.V. raised its position in shares of Endava by 13.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 204,300 shares of the company’s stock valued at $6,313,000 after buying an additional 25,000 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Endava by 44.8% in the fourth quarter. Natixis Advisors LLC now owns 45,340 shares of the company’s stock worth $1,401,000 after buying an additional 14,023 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Endava by 35.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,289 shares of the company’s stock worth $843,000 after buying an additional 7,124 shares in the last quarter. Hedge funds and other institutional investors own 62.23% of the company’s stock.

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.