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

Bank of America began coverage on shares of Endava (NYSE:DAVA) in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage issued a neutral rating and a $29.00 price objective on the stock.

A number of other analysts have also recently commented on the company. TD Cowen upped their price objective on Endava from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Guggenheim reduced their price target on shares of Endava from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Citigroup dropped their price objective on shares of Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, October 28th. Susquehanna reduced their target price on shares of Endava from $66.00 to $55.00 and set a “positive” rating for the company in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.83.

Endava Stock Performance

Shares of DAVA stock opened at $28.70 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average price of $26.25 and a 200-day moving average price of $28.42. Endava has a 52 week low of $23.28 and a 52 week high of $81.06. The firm has a market capitalization of $1.66 billion, a PE ratio of 205.00 and a beta of 1.21.

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

Institutional Investors Weigh In On Endava

Institutional investors have recently bought and sold shares of the business. Precision Wealth Strategies LLC boosted its holdings in shares of Endava by 6.7% during the 3rd quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company’s stock valued at $219,000 after purchasing an additional 540 shares during the last quarter. Signaturefd LLC lifted its position in shares of Endava by 84.1% in the third quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock worth $50,000 after buying an additional 886 shares in the last quarter. Strengthening Families & Communities LLC lifted its position in shares of Endava by 11.4% in the third quarter. Strengthening Families & Communities LLC now owns 9,116 shares of the company’s stock worth $233,000 after buying an additional 933 shares in the last quarter. Portside Wealth Group LLC boosted its stake in Endava by 7.7% during the second quarter. Portside Wealth Group LLC now owns 15,268 shares of the company’s stock valued at $446,000 after buying an additional 1,090 shares during the last quarter. Finally, Blue Trust Inc. purchased a new position in Endava during the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 62.23% of the company’s stock.

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.