Endava plc (NYSE:DAVA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Endava plc (NYSE:DAVA) has received a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $42.31.

DAVA has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Susquehanna cut their price target on Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Needham & Company LLC lowered their price objective on Endava from $42.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Finally, Guggenheim dropped their price objective on Endava from $55.00 to $45.00 and set a “buy” rating for the company in a report on Monday, September 16th.

Hedge Funds Weigh In On Endava

Several institutional investors have recently modified their holdings of DAVA. BNP Paribas Financial Markets lifted its stake in Endava by 5.6% in the first quarter. BNP Paribas Financial Markets now owns 9,273 shares of the company’s stock valued at $353,000 after buying an additional 495 shares in the last quarter. Precision Wealth Strategies LLC grew its position in shares of Endava by 6.7% in the 3rd quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company’s stock valued at $219,000 after acquiring an additional 540 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Endava by 18.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,316 shares of the company’s stock worth $414,000 after purchasing an additional 833 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Endava by 84.1% in the 3rd quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock valued at $50,000 after purchasing an additional 886 shares during the period. Finally, Portside Wealth Group LLC lifted its stake in Endava by 7.7% in the 2nd quarter. Portside Wealth Group LLC now owns 15,268 shares of the company’s stock valued at $446,000 after purchasing an additional 1,090 shares during the last quarter. 62.23% of the stock is currently owned by institutional investors and hedge funds.

Endava Trading Down 0.7 %

Shares of Endava stock opened at $24.82 on Friday. The stock has a market capitalization of $1.43 billion, a P/E ratio of 27.58 and a beta of 1.21. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.23. Endava has a 12-month low of $23.28 and a 12-month high of $81.06. The company has a 50-day simple moving average of $28.16 and a 200 day simple moving average of $28.99.

Endava (NYSE:DAVA) last released its quarterly earnings results on Thursday, September 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.13). Endava had a net margin of 2.30% and a return on equity of 2.76%. The business had revenue of $245.30 million during the quarter, compared to the consensus estimate of $248.65 million. Research analysts expect that Endava will post 0.77 earnings per share for the current fiscal year.

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.