Endava plc (NYSE:DAVA) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Endava plc (NYSE:DAVA - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $40.91.

Several research firms have recently weighed in on DAVA. Needham & Company LLC upped their price objective on Endava from $33.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Guggenheim dropped their price objective on Endava from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Citigroup reduced their target price on shares of Endava from $30.00 to $27.00 and set a "neutral" rating for the company in a report on Monday, October 28th. JPMorgan Chase & Co. lifted their target price on Endava from $41.00 to $47.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Finally, TD Cowen boosted their target price on shares of Endava from $35.00 to $36.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th.

Endava Stock Up 2.3 %

Shares of DAVA traded up $0.61 during midday trading on Wednesday, reaching $26.76. 553,763 shares of the stock were exchanged, compared to its average volume of 537,695. 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 market cap of $1.55 billion, a price-to-earnings ratio of 187.86 and a beta of 1.21. Endava has a 12-month low of $23.28 and a 12-month high of $81.06. The firm has a 50 day simple moving average of $26.46 and a 200-day simple moving average of $28.43.

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

Hedge Funds Weigh In On Endava

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mawer Investment Management Ltd. raised its holdings in Endava by 613.0% in the third quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company's stock worth $30,610,000 after purchasing an additional 1,030,403 shares in the last quarter. Paradice Investment Management LLC bought a new position in shares of Endava during the second quarter valued at approximately $18,695,000. Fourth Sail Capital LP lifted its holdings in shares of Endava by 36.2% during the third quarter. Fourth Sail Capital LP now owns 931,151 shares of the company's stock valued at $23,782,000 after purchasing an additional 247,418 shares during the last quarter. Millennium Management LLC boosted its position in shares of Endava by 64.5% in the 2nd quarter. Millennium Management LLC now owns 571,021 shares of the company's stock worth $16,697,000 after purchasing an additional 223,964 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Endava by 15,560.6% in the 1st quarter. Lazard Asset Management LLC now owns 171,170 shares of the company's stock worth $6,511,000 after buying an additional 170,077 shares during the last quarter. 62.23% of the stock is currently 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.