Endava plc (NYSE:DAVA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Endava plc (NYSE:DAVA) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $51.00.

A number of research firms recently issued reports on DAVA. JPMorgan Chase & Co. decreased their price objective on Endava from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday. HSBC upgraded Endava from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Wednesday. Needham & Company LLC cut their price objective on shares of Endava from $70.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, March 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $40.00 target price on shares of Endava in a report on Monday, April 22nd. Finally, TD Cowen cut their price target on shares of Endava from $85.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, March 1st.

Endava Stock Down 1.0 %

NYSE DAVA opened at $30.83 on Friday. The company has a market cap of $1.78 billion, a PE ratio of 21.26 and a beta of 1.14. Endava has a 52 week low of $28.99 and a 52 week high of $81.06. The firm’s 50-day simple moving average is $36.25 and its two-hundred day simple moving average is $56.44.

Endava (NYSE:DAVA) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Endava had a return on equity of 11.77% and a net margin of 8.88%. The business had revenue of $227.96 million during the quarter, compared to the consensus estimate of $231.07 million. As a group, equities research analysts anticipate that Endava will post 0.62 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Redwood Investments LLC lifted its stake in Endava by 666.2% during 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 last quarter. Simon Quick Advisors LLC bought a new position in Endava during the fourth quarter valued at approximately $5,074,000. Adage Capital Partners GP L.L.C. grew its position 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 valued at $6,595,000 after acquiring an additional 50,000 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Endava during the third quarter worth approximately $280,000. Finally, FMR LLC lifted its holdings in shares of Endava by 16.5% in the 3rd quarter. FMR LLC now owns 1,807,318 shares of the company’s stock worth $103,650,000 after acquiring an additional 256,250 shares during the last quarter. 62.23% of the stock is currently owned by hedge funds and other 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.