Endava (NYSE:DAVA) Trading Up 8% – Time to Buy?

Shares of Endava plc (NYSE:DAVA) shot up 8% during mid-day trading on Thursday . The company traded as high as $28.87 and last traded at $28.87. Approximately 209,411 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 536,210 shares. The stock had previously closed at $26.74.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DAVA. JPMorgan Chase & Co. boosted their price target on shares of Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Citigroup reduced their price target on shares of Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, October 28th. Guggenheim reduced their price target on shares of Endava from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Bank of America initiated coverage on shares of Endava in a research report on Friday. They set a “neutral” rating and a $29.00 price target for the company. Finally, Susquehanna reduced their price target on shares of Endava from $66.00 to $55.00 and set a “positive” rating for the company in a research report on Friday, September 20th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Endava presently has an average rating of “Moderate Buy” and a consensus price target of $39.83.

Endava Stock Up 0.8 %

The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average is $26.25 and its 200-day moving average is $28.42. The company has a market cap of $1.66 billion, a PE ratio of 205.00 and a beta of 1.21.

Endava (NYSE:DAVA) last issued its earnings results on Thursday, September 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.13). The company had revenue of $245.30 million during the quarter, compared to analysts’ expectations of $248.65 million. Endava had a return on equity of 1.10% and a net margin of 0.92%. On average, analysts predict that Endava plc will post 0.65 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. purchased a new position in shares of Endava during the 3rd quarter valued at $30,000. Signaturefd LLC lifted its stake in shares of Endava by 84.1% during the 3rd quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock valued at $50,000 after buying an additional 886 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of Endava during the 2nd quarter valued at $216,000. Precision Wealth Strategies LLC lifted its stake in shares of Endava by 6.7% during the 3rd quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company’s stock valued at $219,000 after buying an additional 540 shares in the last quarter. Finally, Strengthening Families & Communities LLC lifted its stake in shares of Endava by 11.4% during the 3rd quarter. Strengthening Families & Communities LLC now owns 9,116 shares of the company’s stock valued at $233,000 after buying an additional 933 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.