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

Endava plc (NYSE:DAVA)’s stock 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 changing hands.

Wall Street Analyst Weigh In

DAVA has been the topic of a number of recent research reports. Citigroup reduced their target price 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. Needham & Company LLC upped their price target on Endava from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, January 10th. TD Cowen lifted their price objective on shares of Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Bank of America initiated coverage on shares of Endava in a report on Friday, November 22nd. They set a “neutral” rating and a $29.00 target price on the stock. Finally, Guggenheim decreased their price target on shares of Endava from $45.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Endava has an average rating of “Moderate Buy” and an average target price of $40.01.

Endava Stock Down 5.0 %

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 company has a market cap of $1.71 billion, a price-to-earnings ratio of 206.45, a P/E/G ratio of 2.62 and a beta of 1.22. The business has a fifty day moving average price of $31.77 and a two-hundred day moving average price of $29.31.

Endava (NYSE:DAVA) last released its earnings results on Thursday, February 20th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.18). Endava had a return on equity of 1.10% and a net margin of 0.92%. On average, equities analysts predict that Endava plc will post 0.57 earnings per share for the current year.

Institutional Trading of Endava

Institutional investors have recently bought and sold shares of the company. Blue Trust Inc. acquired a new stake in Endava in the third quarter valued at approximately $30,000. Raymond James & Associates lifted its position in shares of Endava by 3.4% in the 3rd quarter. Raymond James & Associates now owns 107,042 shares of the company’s stock worth $2,734,000 after acquiring an additional 3,513 shares during the period. Signaturefd LLC lifted its position in shares of Endava by 84.1% in the 3rd quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock worth $50,000 after acquiring an additional 886 shares during the period. RAM Investment Partners LLC grew its holdings in shares of Endava by 15.4% during the 3rd quarter. RAM Investment Partners LLC now owns 92,715 shares of the company’s stock worth $2,368,000 after purchasing an additional 12,384 shares in the last quarter. Finally, Horrell Capital Management Inc. increased its holdings in Endava by 76.5% in the 3rd quarter. Horrell Capital Management Inc. now owns 150,000 shares of the company’s stock valued at $3,831,000 after buying an additional 65,000 shares during the period. Institutional investors and hedge funds own 62.23% of the company’s stock.

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.