Endava (NYSE:DAVA) Announces Earnings Results

Endava (NYSE:DAVA – Get Rating) posted its quarterly earnings results on Thursday. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05, MarketWatch Earnings reports. The business had revenue of $169.20 million during the quarter, compared to analysts’ expectations of $162.36 million. Endava had a net margin of 11.78% and a return on equity of 20.67%. The business’s quarterly revenue was up 50.7% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share.

Shares of NYSE DAVA opened at $103.98 on Friday. The stock has a market capitalization of $5.79 billion, a P/E ratio of 60.45 and a beta of 1.17. The company has a 50-day moving average price of $117.53 and a 200-day moving average price of $133.88. Endava has a 1 year low of $88.12 and a 1 year high of $172.41.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAVA. Citigroup Inc. lifted its position in shares of Endava by 36.0% during the fourth quarter. Citigroup Inc. now owns 699 shares of the company’s stock valued at $117,000 after purchasing an additional 185 shares in the last quarter. LPL Financial LLC bought a new position in shares of Endava during the third quarter valued at about $247,000. Bank of New York Mellon Corp lifted its position in shares of Endava by 61.6% during the first quarter. Bank of New York Mellon Corp now owns 2,061 shares of the company’s stock valued at $274,000 after purchasing an additional 786 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Endava during the fourth quarter valued at about $312,000. Finally, Cetera Advisor Networks LLC bought a new position in shares of Endava during the first quarter valued at about $363,000. 49.74% of the stock is currently owned by institutional investors.

A number of research firms have commented on DAVA. Zacks Investment Research upgraded shares of Endava from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 9th. Susquehanna Bancshares reduced their price target on shares of Endava from $200.00 to $150.00 in a report on Friday. Citigroup reduced their price target on shares of Endava from $195.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, February 17th. Cowen reduced their price target on shares of Endava from $155.00 to $125.00 in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Endava from $154.00 to $94.00 in a report on Friday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $154.44.

About Endava (Get Rating)

Endava plc provides technology services for clients in the consumer products, healthcare, mobility, and retail verticals in Europe, Latin America, North America, and internationally. The company offers technology and digital advisory services for payments and financial services, and TMT sectors; IT strategies; business analysis services; program management services; digital product strategy services; and architecture, extended reality, machine learning and artificial intelligence, product design, and user experience and visual design services.

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