Bank of America Begins Coverage on Endava (NYSE:DAVA)

Bank of America started coverage on shares of Endava (NYSE:DAVA) in a report issued on Friday, MarketBeat reports. The firm issued a neutral rating and a $29.00 price target on the stock.

A number of other brokerages have also recently commented on DAVA. Needham & Company LLC boosted their price target on Endava from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Susquehanna dropped their target price on Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a report on Friday, September 20th. JPMorgan Chase & Co. increased their target price on Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Citigroup lowered their price target on Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, October 28th. Finally, Guggenheim cut their price objective on shares of Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.83.

Endava Trading Up 1.1 %

NYSE DAVA opened at $28.99 on Friday. The firm has a market capitalization of $1.67 billion, a PE ratio of 204.79 and a beta of 1.21. The stock’s 50 day moving average is $26.15 and its 200 day moving average is $28.32. Endava has a twelve month low of $23.28 and a twelve month high of $81.06. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21.

Endava (NYSE:DAVA) last released its earnings results on Thursday, September 19th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.13). Endava had a return on equity of 1.10% and a net margin of 0.92%. The business had revenue of $245.30 million during the quarter, compared to analysts’ expectations of $248.65 million. Research analysts forecast that Endava will post 0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. purchased a new stake in shares of Endava during the 3rd quarter valued at about $30,000. Signaturefd LLC increased its holdings in Endava by 84.1% during the third quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock valued at $50,000 after buying an additional 886 shares during the last quarter. Seven Eight Capital LP purchased a new stake in Endava during the second quarter valued at approximately $216,000. Precision Wealth Strategies LLC raised its position in Endava by 6.7% in the third quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company’s stock worth $219,000 after acquiring an additional 540 shares during the period. Finally, Strengthening Families & Communities LLC boosted its stake in shares of Endava by 11.4% during the 3rd quarter. Strengthening Families & Communities LLC now owns 9,116 shares of the company’s stock worth $233,000 after acquiring an additional 933 shares during the last quarter. 62.23% of the stock is owned by hedge funds and other institutional investors.

About Endava

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.