Endava (NYSE:DAVA) Issues Quarterly Earnings Results

Endava (NYSE:DAVA) released its earnings results on Tuesday. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.12, MarketWatch Earnings reports. Endava had a net margin of 12.53% and a return on equity of 19.77%. The firm had revenue of $189.80 million during the quarter, compared to analyst estimates of $188.53 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year.

Endava Stock Performance

NYSE:DAVA opened at $56.59 on Wednesday. The company has a market capitalization of $3.21 billion, a P/E ratio of 27.47 and a beta of 1.16. The stock’s 50 day moving average price is $51.21 and its 200 day moving average price is $55.01. Endava has a 52 week low of $44.62 and a 52 week high of $95.00.

Institutional Investors Weigh In On Endava

A number of large investors have recently added to or reduced their stakes in DAVA. Legato Capital Management LLC raised its stake in shares of Endava by 39.4% in the second quarter. Legato Capital Management LLC now owns 13,603 shares of the company’s stock valued at $704,000 after purchasing an additional 3,847 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Endava in the second quarter valued at $298,000. RAM Investment Partners LLC raised its stake in shares of Endava by 316.3% in the second quarter. RAM Investment Partners LLC now owns 210,391 shares of the company’s stock valued at $10,896,000 after purchasing an additional 159,858 shares in the last quarter. Silvercrest Asset Management Group LLC raised its stake in shares of Endava by 8.1% in the second quarter. Silvercrest Asset Management Group LLC now owns 157,481 shares of the company’s stock valued at $8,156,000 after purchasing an additional 11,829 shares in the last quarter. Finally, Pinebridge Investments L.P. acquired a new position in shares of Endava in the second quarter valued at $36,000. Institutional investors own 56.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DAVA. Susquehanna reduced their price objective on shares of Endava from $104.00 to $100.00 in a report on Monday, June 12th. HSBC started coverage on shares of Endava in a report on Monday, July 17th. They issued a “buy” rating and a $74.00 price objective for the company. Morgan Stanley upped their price target on shares of Endava from $70.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, September 14th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Endava from $78.00 to $53.00 in a report on Wednesday, May 24th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Endava has a consensus rating of “Buy” and a consensus target price of $86.00.

About Endava

Endava plc provides technology services for clients in the consumer products, healthcare, mobility, and retail verticals in Europe, Latin America, North America, and internationally. It 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.