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

Bank of America initiated coverage on shares of Endava (NYSE:DAVA - Get Free Report) in a research report issued on Friday, MarketBeat.com reports. The brokerage set a "neutral" rating and a $29.00 price target on the stock. Bank of America's price objective indicates a potential upside of 1.83% from the stock's current price.

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

Endava Price Performance

Shares of NYSE DAVA remained flat at $28.48 during trading on Friday. The company's stock had a trading volume of 201,482 shares, compared to its average volume of 536,280. Endava has a 1 year low of $23.28 and a 1 year high of $81.06. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.64 billion, a PE ratio of 202.79 and a beta of 1.21. The company has a 50 day simple moving average of $26.25 and a two-hundred day simple moving average of $28.42.

Endava (NYSE:DAVA - Get Free Report) last released its quarterly earnings results on Thursday, September 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.13). Endava had a return on equity of 1.10% and a net margin of 0.92%. The firm had revenue of $245.30 million for the quarter, compared to the consensus estimate of $248.65 million. As a group, equities analysts predict that Endava will post 0.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DAVA. Mawer Investment Management Ltd. lifted its position in Endava by 613.0% during the third quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company's stock valued at $30,610,000 after buying an additional 1,030,403 shares during the period. AEGON ASSET MANAGEMENT UK Plc boosted its position in shares of Endava by 8.7% in the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 245,772 shares of the company's stock worth $6,279,000 after purchasing an additional 19,669 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Endava in the 2nd quarter worth approximately $941,000. Horrell Capital Management Inc. raised its position in shares of Endava by 76.5% in the 3rd quarter. Horrell Capital Management Inc. now owns 150,000 shares of the company's stock worth $3,831,000 after purchasing an additional 65,000 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its stake in Endava by 9.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 311,992 shares of the company's stock worth $11,868,000 after purchasing an additional 27,797 shares in the last quarter. Institutional investors own 62.23% of the company's stock.

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.