Endava plc (NYSE:DAVA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Endava plc (NYSE:DAVA) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $46.41.

DAVA has been the topic of a number of recent analyst reports. Guggenheim lowered their price target on shares of Endava from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. TD Cowen lowered their price target on shares of Endava from $46.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. HSBC raised shares of Endava from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Wednesday, May 1st. Wedbush lowered their price objective on shares of Endava from $65.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. Finally, Citigroup lowered their price objective on shares of Endava from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd.

Endava Trading Up 3.3 %

Shares of NYSE:DAVA opened at $28.37 on Friday. The company has a market capitalization of $1.64 billion, a PE ratio of 31.52 and a beta of 1.21. Endava has a twelve month low of $24.51 and a twelve month high of $81.06. The firm has a 50 day simple moving average of $28.84 and a 200-day simple moving average of $49.12.

Endava (NYSE:DAVA) last announced its quarterly earnings data on Thursday, May 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.10). The firm had revenue of $221.14 million during the quarter, compared to analyst estimates of $220.59 million. Endava had a net margin of 5.69% and a return on equity of 7.13%. As a group, equities research analysts predict that Endava will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Endava

A number of institutional investors have recently made changes to their positions in the company. Redwood Investments LLC boosted its holdings in Endava by 666.2% in the fourth quarter. Redwood Investments LLC now owns 40,455 shares of the company’s stock worth $3,149,000 after purchasing an additional 35,175 shares during the period. Simon Quick Advisors LLC bought a new stake in shares of Endava during the 4th quarter valued at about $5,074,000. Adage Capital Partners GP L.L.C. raised its stake in Endava by 76.9% during the third quarter. Adage Capital Partners GP L.L.C. now owns 115,000 shares of the company’s stock worth $6,595,000 after acquiring an additional 50,000 shares during the period. US Bancorp DE lifted its holdings in Endava by 2,113.9% in the fourth quarter. US Bancorp DE now owns 16,427 shares of the company’s stock worth $1,279,000 after acquiring an additional 15,685 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in Endava in the third quarter valued at approximately $280,000. 62.23% of the stock is currently owned by institutional investors.

Endava Company Profile

Endava plc provides technology services for clients in the consumer products, healthcare, mobility, and retail verticals in North America, Europe, the United Kingdom, and internationally. It offers ideation and production services in the payments and financial services, telecommunications, media, and technology verticals; and business analysis, data analytics, program management, digital product strategy, private equity value enhancement, IT strategy, architecture, extended reality, machine learning and artificial intelligence, product design, and user experience and visual design services.