Endava (NYSE:DAVA) Reaches New 1-Year High Following Strong Earnings

Endava PLC – (NYSE:DAVA) hit a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $55.00 and last traded at $55.00, with a volume of 11366 shares trading hands. The stock had previously closed at $48.31.

The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.10. Endava had a net margin of 11.93% and a return on equity of 28.69%. The business had revenue of $85.90 million during the quarter, compared to the consensus estimate of $83.00 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The company’s quarterly revenue was up 19.6% compared to the same quarter last year.

DAVA has been the topic of several research analyst reports. Needham & Company LLC raised their target price on shares of Endava from $53.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday. Zacks Investment Research cut shares of Endava from a “buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Cantor Fitzgerald raised their target price on shares of Endava from $46.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday. Citigroup raised their target price on shares of Endava from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 15th. Finally, Susquehanna Bancshares initiated coverage on shares of Endava in a research report on Tuesday, October 22nd. They issued a “positive” rating and a $48.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $48.16.

A number of hedge funds have recently made changes to their positions in the business. Advisor Group Inc. acquired a new position in shares of Endava during the fourth quarter worth $28,000. Bank of America Corp DE lifted its position in shares of Endava by 294.3% during the fourth quarter. Bank of America Corp DE now owns 1,325 shares of the company’s stock worth $62,000 after purchasing an additional 989 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Endava during the third quarter worth $97,000. PNC Financial Services Group Inc. lifted its position in shares of Endava by 289.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,131 shares of the company’s stock worth $146,000 after purchasing an additional 2,327 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Endava by 607.3% during the fourth quarter. UBS Group AG now owns 3,947 shares of the company’s stock worth $184,000 after purchasing an additional 3,389 shares in the last quarter. 27.78% of the stock is currently owned by hedge funds and other institutional investors.

The business’s 50-day moving average price is $47.07 and its 200 day moving average price is $42.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.43 and a quick ratio of 2.43. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 64.24, a PEG ratio of 2.67 and a beta of 0.77.

Endava Company Profile (NYSE:DAVA)

Endava plc provides technology services for clients in the consumer products, healthcare, logistics, and retail verticals in Europe, Latin America, and the United States. It offers strategy, creative and user experience, insights through data, mobile and Internet of Things, architecture, smart automation, software engineering, test automation and engineering, continuous delivery, cloud, applications management, and smart desk services across the digital evolution, agile transformation, and automation solution areas.

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