Zacks Investment Research Downgrades Endava (NYSE:DAVA) to Hold

Endava (NYSE:DAVA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

According to Zacks, “Endava Plc provides information technology services. It offers software engineering, cloud transformation, test automation, technology consulting and other related services. The company serves finance, insurance and healthcare, retail and consumer goods, media and technology and communication industry. Endava Plc is based in London, United Kingdom. “

Several other equities research analysts have also recently weighed in on the company. Wedbush assumed coverage on Endava in a report on Tuesday, May 26th. They issued an “outperform” rating and a $60.00 target price for the company. ValuEngine raised shares of Endava from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Morgan Stanley started coverage on shares of Endava in a report on Monday, June 15th. They set an “equal weight” rating and a $54.00 target price on the stock. Needham & Company LLC boosted their price target on shares of Endava from $40.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Finally, Citigroup lowered their price target on shares of Endava from $56.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, April 29th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Endava has an average rating of “Hold” and an average price target of $52.00.

DAVA stock opened at $48.30 on Monday. Endava has a 12 month low of $27.21 and a 12 month high of $56.76. The firm’s 50-day moving average is $47.68 and its 200 day moving average is $45.37. The company has a market capitalization of $2.68 billion, a PE ratio of 92.89, a P/E/G ratio of 2.78 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.08.

Endava (NYSE:DAVA) last issued its earnings results on Thursday, May 21st. The company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. The business had revenue of $92.20 million for the quarter, compared to analyst estimates of $87.64 million. Endava had a net margin of 6.85% and a return on equity of 13.83%. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period last year, the company posted $0.19 earnings per share. Sell-side analysts forecast that Endava will post 0.91 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its stake in Endava by 1.8% in the 4th quarter. FMR LLC now owns 1,733,113 shares of the company’s stock worth $80,763,000 after purchasing an additional 31,229 shares in the last quarter. Grandeur Peak Global Advisors LLC grew its holdings in shares of Endava by 52.8% during the first quarter. Grandeur Peak Global Advisors LLC now owns 1,156,775 shares of the company’s stock valued at $40,672,000 after buying an additional 399,764 shares during the last quarter. Driehaus Capital Management LLC increased its position in shares of Endava by 3.6% in the 1st quarter. Driehaus Capital Management LLC now owns 929,950 shares of the company’s stock valued at $32,697,000 after acquiring an additional 32,116 shares during the period. CDAM UK Ltd raised its stake in Endava by 242.3% in the 1st quarter. CDAM UK Ltd now owns 924,473 shares of the company’s stock worth $32,745,000 after acquiring an additional 654,410 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Endava by 21.9% during the 1st quarter. Wellington Management Group LLP now owns 528,273 shares of the company’s stock worth $18,575,000 after acquiring an additional 94,841 shares during the period. Hedge funds and other institutional investors own 33.49% of the company’s stock.

About Endava

Endava plc provides technology services for clients in the consumer products, healthcare, logistics, and retail verticals in Europe, Latin America, and the United States. It offers strategy, creative and user experience, insights through data, mobile and Internet of Things, architecture, smart automation, software engineering, test automation and engineering, continuous delivery, cloud, applications management, and smart desk services across the digital evolution, agile transformation, and automation solution areas.

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