Endava (NYSE:DAVA) Shares Gap Up – Here’s What Happened

Endava plc (NYSE:DAVA)’s share price gapped up before the market opened 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.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DAVA. TD Cowen boosted their target price on Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Guggenheim cut their price objective on Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Bank of America initiated coverage on Endava in a research report on Friday, November 22nd. They set a “neutral” rating and a $29.00 target price for the company. Susquehanna cut their price target on shares of Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a report on Friday. 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 report on Friday. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Endava has a consensus rating of “Moderate Buy” and a consensus target price of $39.10.

Endava Price Performance

The stock has a market cap of $1.54 billion, a P/E ratio of 236.91, a price-to-earnings-growth ratio of 2.26 and a beta of 1.22. 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 business’s 50-day simple moving average is $31.65 and its two-hundred day simple moving average is $29.27.

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 analysts’ consensus estimates of $0.32 by ($0.18). The business had revenue of $250.63 million during the quarter, compared to analysts’ expectations of $197.33 million. Endava had a net margin of 0.74% and a return on equity of 0.89%. Sell-side analysts expect that Endava plc will post 0.57 EPS for the current year.

Institutional Investors Weigh In On Endava

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. purchased a new position in Endava during the third quarter valued at approximately $30,000. Assetmark Inc. grew its position in shares of Endava by 93.1% during the 4th quarter. Assetmark Inc. now owns 985 shares of the company’s stock valued at $30,000 after purchasing an additional 475 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of Endava by 114.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company’s stock valued at $46,000 after purchasing an additional 786 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Endava by 84.1% in the third quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock worth $50,000 after purchasing an additional 886 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Endava by 86.4% in the fourth quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $50,000 after buying an additional 745 shares in the last quarter. 62.23% of the stock is currently owned by institutional investors.

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.