Endava’s (NYSE:DAVA) lock-up period will end on Wednesday, January 23rd. Endava had issued 6,340,000 shares in its initial public offering on July 27th. The total size of the offering was $126,800,000 based on an initial share price of $20.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Several research firms recently issued reports on DAVA. Zacks Investment Research lowered shares of Endava from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Morgan Stanley reduced their price objective on shares of Endava from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Friday, November 30th. Finally, Citigroup reduced their price objective on shares of Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, October 12th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $27.67.

Endava stock opened at $23.67 on Tuesday. The firm has a market cap of $1.26 billion and a price-to-earnings ratio of 33.34. Endava has a fifty-two week low of $21.13 and a fifty-two week high of $31.50.

Endava (NYSE:DAVA) last released its earnings results on Thursday, November 29th. The company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.08. The firm had revenue of $66.40 million for the quarter, compared to analyst estimates of $62.26 million. Endava’s revenue for the quarter was up 39.8% on a year-over-year basis. Equities analysts expect that Endava will post 0.72 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in DAVA. FMR LLC acquired a new position in shares of Endava during the third quarter valued at about $23,755,000. Capital World Investors acquired a new position in shares of Endava during the third quarter valued at about $20,555,000. BlackRock Inc. acquired a new position in shares of Endava during the third quarter valued at about $14,213,000. Bamco Inc. NY acquired a new position in shares of Endava during the third quarter valued at about $8,939,000. Finally, Federated Investors Inc. PA acquired a new position in shares of Endava during the third quarter valued at about $6,525,000. 12.54% of the stock is owned by hedge funds and other institutional investors.

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About Endava

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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