Endava (NYSE:DAVA) Now Covered by Bank of America

Bank of America initiated 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 target on the stock.

Other research analysts have also recently issued research reports about the stock. Citigroup cut their target price 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. Guggenheim cut their price target on shares of Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price objective on shares of Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. TD Cowen increased their target price on shares of Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Susquehanna cut their target price on Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.83.

Endava Stock Performance

Endava stock opened at $28.70 on Friday. The firm has a fifty day simple moving average of $26.25 and a two-hundred day simple moving average of $28.42. 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 has a twelve month low of $23.28 and a twelve month high of $81.06. The company has a market capitalization of $1.66 billion, a PE ratio of 205.00 and a beta of 1.21.

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 net margin of 0.92% and a return on equity of 1.10%. The company 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 0.65 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of DAVA. Quadrature Capital Ltd bought a new position in shares of Endava during the first quarter valued at approximately $841,000. Lazard Asset Management LLC increased its position in Endava by 15,560.6% during the 1st quarter. Lazard Asset Management LLC now owns 171,170 shares of the company’s stock valued at $6,511,000 after buying an additional 170,077 shares in the last quarter. Silvercrest Asset Management Group LLC raised its stake in Endava by 9.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 311,992 shares of the company’s stock valued at $11,868,000 after buying an additional 27,797 shares during the last quarter. Virtu Financial LLC bought a new stake in Endava in the first quarter worth $596,000. Finally, Cetera Advisors LLC grew its stake in shares of Endava by 35.4% in the first quarter. Cetera Advisors LLC now owns 8,065 shares of the company’s stock worth $307,000 after acquiring an additional 2,110 shares during the last quarter. 62.23% of the stock is 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.