Endava is a London-based software development company that went public with their IPO back in 2018 on July 26th, the same day Cango (CANG) went public, but unlike the Chinese mediating company for car buyers, banks and dealers, Endava started at a price of 20$ in oppose to the value of 9$ opening the sale of CANG shares.
The two companies are working in different sectors, while Endava is showing a healthy progress in the market when it comes to the share price, dealing around 30% higher when compared to its opening price back at the beginning of the third quarter of 2018.
How Well is Endava (DAVA) Doing in 2019? Reasons to Consider Investing in Endava and Goo Long on the Share
Estimates for Endava IPO were set 1,06 billion dollars ahead of its initial offer, while the company managed to raise 127 million dollars during the first trading session.
Endava shares are following an upward trend months later at the beginning of Q2 of 2019, representing a prominent investment for investors who are looking to add a successful tech company to their portfolio.
Endava reported 39.8% the growth rate at constant currency for Q1 2019, while adding that they are happy with earnings generated during the first quarter of 2019.
Within their report, Endava stated that the company managed to generate over 66 million pounds for the first quarter, that way marking an increase in net profits by 39.7% year to year.
Previously, the company reported 47.5 million pounds for the same quarter of 2018, also reporting that the number of clients that spend around 1 million pounds and more at Endava during the course of 12 months also went up accordingly, marking a growth rate of over 40% in the number of major clients.
Before going public, Endava purchased three different companies that are also said to be recording a positive growth rate, in addition to having the company working on their integration of Velocity Partners.