Endava (NYSE:DAVA) Coverage Initiated at Bank of America

Research analysts at Bank of America assumed coverage on shares of Endava (NYSE:DAVA) in a report released on Friday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating and a $29.00 price target on the stock. Bank of America‘s price target indicates a potential upside of 1.72% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. 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. TD Cowen lifted their price target on shares of Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Citigroup cut their price objective on Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, October 28th. Needham & Company LLC lifted their price objective on Endava from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Guggenheim cut their price objective on Endava from $45.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.83.

Endava Trading Up 6.6 %

Shares of Endava stock opened at $28.51 on Friday. The company’s fifty day simple moving average is $26.35 and its 200-day simple moving average is $28.41. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 203.64 and a beta of 1.21. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. Endava has a 1 year low of $23.28 and a 1 year high of $81.06.

Endava (NYSE:DAVA) last posted its quarterly 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 for the quarter, compared to analyst estimates of $248.65 million. As a group, sell-side analysts expect that Endava will post 0.77 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Blue Trust Inc. bought a new position in shares of Endava in the third quarter valued at about $30,000. Signaturefd LLC raised its holdings in Endava by 84.1% during the 3rd quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock worth $50,000 after purchasing an additional 886 shares during the last quarter. Seven Eight Capital LP bought a new stake in Endava during the 2nd quarter worth about $216,000. Cetera Advisors LLC raised its holdings in Endava by 35.4% during the 1st quarter. Cetera Advisors LLC now owns 8,065 shares of the company’s stock worth $307,000 after purchasing an additional 2,110 shares during the last quarter. Finally, Precision Wealth Strategies LLC raised its holdings in Endava by 6.7% during the 3rd quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company’s stock worth $219,000 after purchasing an additional 540 shares during the last quarter. 62.23% of the stock is owned by 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.