Endava Plc Stock Price, News & Analysis

Endava plc (NYSE: DAVA) has announced its partnership with Stripe, joining the Stripe Partner Ecosystem to enhance payment solutions for global merchants. This collaboration aims to diversify revenue streams and simplify cross-border commerce through customised services. Petru Metzger, Head of Global Payments Delivery, remarked on addressing the complexities faced by merchants as they expand. This strategic move aligns with Stripe's initiative to facilitate online commerce for businesses globally and provide streamlined support for payment methods.

Guidewire (NYSE: GWRE) has awarded specializations to two consulting partners in Q2 of fiscal year 2022: Business Agility, an Endava company, for InsuranceSuite in EMEA, and Tata Consultancy Services (TCS) for InsuranceSuite Integration in AMER. These specializations require partners to demonstrate expertise in specific Guidewire solutions. Currently, Guidewire PartnerConnect Consulting has achieved a total of 134 specializations, enhancing transparency for insurers seeking knowledgeable partners and enabling specialized promotion across Guidewire products.

Endava plc (NYSE: DAVA) has announced the opening of its first office in Toronto, Canada. This expansion focuses on the financial services sector and includes the establishment of a Physical Computer Center of Excellence. Endava’s North American revenue increased by 80% year-over-year for the quarter ending December 31, 2021, contributing 35% to overall global revenue. The company aims to enhance local client support and continue expanding into various industries in Canada.

Endava plc (NYSE: DAVA) reported a strong Q2 FY2022 with revenue growth of 49.8% year-on-year, reaching £157.7 million. The revenue growth rate at constant currency was 53.4%, compared to 21.4% in the previous year. Diluted EPS rose to £0.27 from £0.14, while adjusted diluted EPS improved to £0.46 from £0.29. Net cash from operating activities also increased to £35.0 million. Looking ahead, Endava forecasts Q3 revenues between £161.0 million and £163.0 million, with adjusted diluted EPS guidance of £0.42 to £0.44.

Endava plc (NYSE: DAVA) announced its commitment to sustainability through its 'We Care' initiative. The company aims for net zero emissions and has joined the 'Race to Zero' by signing a commitment letter to Science Based Targets. Endava is focusing on minimizing its Scope 1 and 2 emissions while analyzing its Scope 3 footprint. The company is engaging suppliers to identify emission reduction opportunities and investing in carbon removal projects. Additionally, Endava encourages employee participation in environmental initiatives, including a plan to plant at least 30,000 trees this financial year.

Tassat Group announced the establishment of a 40-bank Working Group to guide the launch of the Digital Interbank Network, enabling secure, real-time payments between banks. Currently in discussions with over 200 banks, Tassat aims for a launch in 2022. Kevin R. Greene has been appointed as CEO, succeeding Ron Totaro. Greene has been pivotal in Tassat's development since joining the board in 2017. TassatPay has processed over $300 billion since 2019, enhancing shareholder value for participating banks while supporting a transition to blockchain technology.

Endava (NYSE: DAVA) will announce its second-quarter results for the period ending December 31, 2021, on February 16, 2022, prior to the opening of U.S. markets. CEO John Cotterell and CFO Mark Thurston will discuss the results during a conference call at 8:00 a.m. ET. Interested parties can access the call via a toll-free number or listen to the webcast afterwards on the investor relations website. As of September 30, 2021, Endava served clients globally, helping them transition into digital, experience-driven businesses.

Tassat Group Inc. has announced three significant executive appointments in response to the growing interest in its TassatPay™ platform, which enables banks to issue cash-backed stablecoins for B2B transactions. The new leaders include Kevin Lupowitz as Chief Information Officer, Glen Sussman as President and Chief Operating Officer, and Al Berg as Chief Information Security Officer. These changes aim to enhance operational capabilities to cater to increasing demand, particularly after a recent government recommendation for banks to issue digital currency.

Endava plc (NYSE: DAVA) reported strong Q1 FY2022 results, with revenue reaching £147.5 million, a 55% increase year-on-year, and 60.8% growth at constant currency. Diluted EPS rose to £0.36 from £0.12 in the previous year. Adjusted EPS was £0.49 compared to £0.26. Profit before tax was £24.9 million, up from £8.7 million. The company expects Q2 FY2022 revenues between £150 million and £152 million, and full-year revenues between £615 million and £620 million, reflecting solid demand across regions. Cash and equivalents totaled £82 million, an increase from £69.9 million.