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

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. 209,411 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 536,210 shares. The stock had previously closed at $26.74.

Analyst Ratings Changes

A number of brokerages have issued reports on DAVA. Bank of America began coverage on shares of Endava in a report on Friday. They issued a “neutral” rating and a $29.00 price target on the stock. Guggenheim reduced their price target on shares of Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price target on shares of Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Susquehanna reduced their price target on shares of Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Finally, TD Cowen boosted their target price on shares of Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.83.

Endava Stock Performance

The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $26.25 and its 200 day moving average is $28.42. The stock has a market capitalization of $1.66 billion, a PE ratio of 205.00 and a beta of 1.21.

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

Institutional Investors Weigh In On Endava

Several large investors have recently added to or reduced their stakes in DAVA. Blue Trust Inc. purchased a new stake in Endava in the 3rd quarter valued at about $30,000. Signaturefd LLC boosted its position in Endava by 84.1% in 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 during the period. Seven Eight Capital LP purchased a new stake in Endava in the 2nd quarter valued at about $216,000. Precision Wealth Strategies LLC lifted its position in shares of Endava by 6.7% in the 3rd quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company’s stock worth $219,000 after purchasing an additional 540 shares during the period. Finally, Strengthening Families & Communities LLC lifted its position in shares of Endava by 11.4% in the 3rd quarter. Strengthening Families & Communities LLC now owns 9,116 shares of the company’s stock worth $233,000 after purchasing an additional 933 shares during the period. 62.23% of the stock is owned by hedge funds and other 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.