Endava (NYSE:DAVA) Stock Price Up 6.7% – Still a Buy?

Endava plc (NYSE:DAVA) shot up 6.7% during mid-day trading on Thursday . The stock traded as high as $32.15 and last traded at $32.00. 41,277 shares were traded during trading, a decline of 92% from the average session volume of 525,005 shares. The stock had previously closed at $29.98.

Analyst Upgrades and Downgrades

DAVA has been the topic of a number of recent research reports. Susquehanna reduced their price objective on Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Bank of America began coverage on Endava in a research report on Friday, November 22nd. They set a “neutral” rating and a $29.00 price target on the stock. Citigroup lowered their price objective on Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, October 28th. Needham & Company LLC raised their target price on shares of Endava from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. upped 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. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Endava presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.83.

Endava Price Performance

The stock has a market cap of $1.79 billion, a P/E ratio of 216.43, a price-to-earnings-growth ratio of 2.16 and a beta of 1.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a 50-day moving average price of $27.49 and a 200-day moving average price of $28.36.

Endava (NYSE:DAVA) last posted its quarterly earnings data on Thursday, September 19th. The company reported ($0.04) earnings per share (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 during the quarter, compared to the consensus estimate of $248.65 million. On average, analysts forecast that Endava plc will post 0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Endava

Large investors have recently made changes to their positions in the business. Wasatch Advisors LP increased its position in Endava by 6.7% during the 3rd quarter. Wasatch Advisors LP now owns 1,578,646 shares of the company’s stock valued at $40,319,000 after buying an additional 98,875 shares in the last quarter. Mawer Investment Management Ltd. increased its holdings in shares of Endava by 613.0% during the third quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company’s stock valued at $30,610,000 after acquiring an additional 1,030,403 shares in the last quarter. FMR LLC increased its holdings in shares of Endava by 1.4% during the third quarter. FMR LLC now owns 952,515 shares of the company’s stock valued at $24,327,000 after acquiring an additional 13,106 shares in the last quarter. Fourth Sail Capital LP raised its position in shares of Endava by 36.2% in the 3rd quarter. Fourth Sail Capital LP now owns 931,151 shares of the company’s stock worth $23,782,000 after purchasing an additional 247,418 shares during the last quarter. Finally, DF Dent & Co. Inc. boosted its stake in Endava by 2.5% in the 3rd quarter. DF Dent & Co. Inc. now owns 777,108 shares of the company’s stock worth $19,847,000 after purchasing an additional 18,882 shares in the last quarter. 62.23% of the stock is currently 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.