Endava (NYSE:DAVA) Trading Up 6.2% - Here's Why

Shares of Endava plc (NYSE:DAVA - Get Free Report) were up 6.2% during mid-day trading on Monday . The stock traded as high as $19.17 and last traded at $18.54. Approximately 126,769 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 495,020 shares. The stock had previously closed at $17.45.

Wall Street Analysts Forecast Growth

DAVA has been the topic of a number of research analyst reports. Needham & Company LLC dropped their price target on Endava from $43.00 to $38.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Morgan Stanley increased their price objective on shares of Endava from $33.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. Finally, Susquehanna cut their price objective on shares of Endava from $55.00 to $50.00 and set a "positive" rating on the stock in a research report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $39.10.

Endava Stock Performance

The stock has a market capitalization of $1.06 billion, a P/E ratio of 162.95, a PEG ratio of 2.26 and a beta of 1.33. The stock's 50-day simple moving average is $24.01 and its 200 day simple moving average is $26.97. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90.

Endava (NYSE:DAVA - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.18). The company had revenue of $250.63 million during the quarter, compared to analyst estimates of $197.33 million. Endava had a net margin of 0.74% and a return on equity of 0.89%. Research analysts expect that Endava plc will post 0.57 EPS for the current fiscal year.

Institutional Trading of Endava

Hedge funds have recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Endava by 22.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,533,111 shares of the company's stock worth $140,073,000 after purchasing an additional 842,433 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of Endava by 80.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,806,044 shares of the company's stock valued at $55,807,000 after buying an additional 805,903 shares during the period. JPMorgan Chase & Co. grew its position in Endava by 187.5% during the fourth quarter. JPMorgan Chase & Co. now owns 858,894 shares of the company's stock worth $26,540,000 after buying an additional 560,190 shares in the last quarter. Raymond James Financial Inc. bought a new position in Endava during the 4th quarter worth $14,698,000. Finally, SG Americas Securities LLC raised its holdings in Endava by 1,299.1% in the 4th quarter. SG Americas Securities LLC now owns 430,366 shares of the company's stock valued at $13,298,000 after acquiring an additional 399,605 shares in the last quarter. 62.23% of the stock is owned by institutional investors and hedge funds.

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.