LOS ANGELES, Aug. 12, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Endava plc ("Endava" or "the Company") (NYSE: DAVA) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Endava filed a Form 6-K with the SEC on February 29, 2024. The Company reported revenues ...

Core Viewpoint - Johnson Fistel, LLP is investigating potential violations of securities laws by Endava plc and its executives regarding misrepresentation or failure to disclose adverse information to investors [1] Group 1: Investigation Details - The investigation focuses on the losses suffered by investors and the possibility of recovering these losses under federal securities laws [1] - Investors who purchased Endava securities and experienced significant losses are encouraged to join the investigation [2] Group 2: Whistleblower Information - Individuals with nonpublic information about Endava are advised to consider assisting the investigation or utilizing the SEC Whistleblower program, which may offer rewards for original information leading to successful recovery [3] Group 3: About the Law Firm - Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in multiple states, representing both individual and institutional investors in securities class action lawsuits [4]

The stock market appears to be entering a major rotation. Over the past week, the largest tech and momentum stocks have started selling off. In particular, firms related to semiconductors and AI have seen their share prices plunge. This could be normal profit-taking after the massive run-up over the past year. There are also concerns that the Republican presidential ticket could shake up the tech landscape, leading to challenges for the leading firms in the field. However, the large companies' struggles cou ...

Industry Overview - The tech industry has achieved year-to-date returns of 28.33%, outperforming the S&P 500's 17.73% gain [1] - Companies in the tech sector are expected to release their Q2 returns, which could positively impact share prices [2] Company Analysis: Endava (DAVA) - Endava is a British IT firm primarily serving the financial sector, which accounts for over half of its revenue [4] - The company reported a year-over-year revenue decline of 14.3% to £174.4 million and a drop in adjusted EPS to £0.22 from £0.59 [5] - Analysts forecast an average price target of $41.83 for Endava, indicating a potential upside of 42.57% from its current price of $32 [7] Company Analysis: Taiwan Semiconductor (TSM) - Taiwan Semiconductor is a leading semiconductor manufacturer, receiving significant government grants to expand operations [8] - The company reported Q1 fiscal 2024 revenue of $18.22 billion, a 16.5% year-over-year increase, and net income of $6.93 billion, up 8.9% [9] - Analysts have set an average price target of $185.14 for TSM, with a potential upside of 0.35% [10] Company Analysis: NICE (NICE) - NICE focuses on customer engagement solutions and reported a 15% year-over-year revenue growth to $659.3 million in Q1 fiscal 2024 [12] - The company expects non-GAAP revenue for Q2 to be between $657 million and $667 million, representing a 14% year-over-year growth [13] - Analysts project an average price target of $272.07 for NICE, indicating a potential upside of 59.56% [14]

It might seem like it's way too late to be looking for undervalued software stocks in July 2024. After all, the Nasdaq 100 Index has been going virtually straight up for the past two years. Most companies related to growth fields such as artificial intelligence (AI) have already rocketed higher in recent months. Valuations are stretched in many leading growth names. However, other software stocks are still trading near multi-year lows and at truly bombed out valuations. These are three profitable software c ...

Financial Data and Key Metrics Changes - The company's revenue totaled £174.4 million for the three months ended March 31, 2024, representing a 14.3% decrease compared to £203.5 million in the same period last year [72] - Adjusted diluted earnings per share was £0.22, down from £0.59 in the same period last year [73] - Adjusted profit before tax margin was 8.9%, compared to 21.3% for the same period last year [103] Business Line Data and Key Metrics Changes - Revenue from payments declined 27% and accounted for 24% of total revenue [75] - Revenue from banking and capital markets declined 24.2%, accounting for 14% of revenue [75] - Revenue from insurance grew 1.7%, accounting for 9% of revenue [75] - Revenue from TMT declined 4%, accounting for 24% of revenue [75] - Revenue from mobility declined 22.4%, accounting for 10% of revenue [75] - Revenue from other grew 3.2%, accounting for 19% of revenue [75] Market Data and Key Metrics Changes - North America accounted for 30% of revenue, Europe for 28%, the UK for 35%, and the rest of the world for 7% [74] - Revenue from North America declined 19.4% [74] - Revenue from Europe grew 0.9%, while the UK declined 22.3% [105] Company Strategy and Development Direction - The company is focusing on diversifying its geographic and industry footprint, particularly expanding in LATAM and Asia PAC [13] - The acquisition of GalaxE is expected to enhance capabilities in the US healthcare sector, which is seen as a significant growth area [63] - The company aims to leverage patented technology and digital transformation capabilities to drive enterprise modernization [91] Management's Comments on Operating Environment and Future Outlook - Management noted a challenging operating environment with macroeconomic uncertainty affecting client spending priorities [89] - There is significant pent-up demand for technology services, particularly for digital transformation and generative AI [89] - The company expects to see stabilization in revenue as new business begins to offset previous declines [41] Other Important Information - Adjusted free cash flow was £2.2 million, down from £21.2 million in the same period last year [106] - The company ended the quarter with 11,025 employees, a 6.1% decrease from the previous year [100] - The integration of GalaxE is progressing well, with early wins already being realized [110] Q&A Session Summary Question: How is the integration of GalaxE Solutions progressing? - The integration is going very well, with new business already being won together, including a contract for a European telco [110] Question: What are the revenue and EPS implications over the next few quarters? - GalaxE is expected to contribute about £21 million run rate on revenue, but negligible to zero EPS contribution in the current quarter due to integration costs [111] Question: Can you provide insights on client behavior and deal closures? - Client behavior is improving, with a larger backlog of business where discovery work is being done, indicating potential future spending [115] Question: How is the company navigating cost pressures in Central Europe? - The company is not experiencing inflationary impacts in Central Europe and is managing costs effectively [85] Question: What is the outlook for the payments vertical? - The payments vertical is under pressure, but there are signs of improvement with Worldpay as restructuring progresses [119] Question: What is the expected growth for fiscal year 2025? - The company is cautious in guidance due to integration challenges with GalaxE, but expects to provide clearer guidance in September [150]

Investor Relations 2024 Opportunity & Approach Advisory and digital strategy • Growth marketing Revenue Over the last five fiscal years, 90.1% of our revenue each fiscal year, on average, came from customers who purchased services from us during the prior fiscal year. Profit before tax (£m) FY19 FY20 FY21 FY22 FY23 _ FY23 FY24 15.5 43.4 22.7 43.0 51.0 66.7 92.1 138.3 164.2 39.5 29.8 FY19 June 30 March 31 9M FY23 9M FY24 FY20 FY21 FY22 FY23 Q1 Q2 68.0 125.9 Q3 20.8% 12.5% 9M comm 9.9% 5.8% Q2 Financials Inve ...

Endava PLC Sponsored ADR (DAVA) came out with quarterly earnings of $0.28 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.72 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 21.74%. A quarter ago, it was expected that this company would post earnings of $0.37 per share when it actually produced earnings of $0.37, delivering no surprise. Over the last four quarters, the compan ...

Q3 FY2024 ENDAVA ANNOUNCES THIRD QUARTER FISCAL YEAR 2024 RESULTS Q3 FY2024 14.3% Year on Year Revenue Decrease to £174.4 million 11.8% Revenue Decrease at Constant Currency Diluted EPS £(0.03) compared to £0.42 in the prior year comparative period Adjusted diluted EPS £0.22 compared to £0.59 in the prior year comparative period London, U.K. – Endava plc (NYSE: DAVA) ("Endava" or the "Company"), a leading technology services company combining world-class engineering, industry expertise and a people-centric ...

The market expects Endava PLC Sponsored ADR (DAVA) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to ...