Endava (NYSE:DAVA) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a research note issued on Wednesday, 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 analysts also recently weighed in on DAVA. Citigroup upgraded Endava from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $57.00 to $67.00 in a research report on Wednesday. Morgan Stanley upped their target price on Endava from $54.00 to $59.00 and gave the company an "equal weight" rating in a report on Wednesday. Deutsche Bank upped their target price on Endava from $56.00 to $62.00 and gave the company a "hold" rating in a report on Wednesday. Needham & Company LLC upped their target price on Endava from $58.00 to $67.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Wedbush began coverage on Endava in a report on Tuesday, May 26th. They set an "outperform" rating and a $60.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of "Hold" and a consensus price target of $61.50.
NYSE:DAVA traded up $0.43 during mid-day trading on Wednesday, reaching $57.18. The stock had a trading volume of 289,196 shares, compared to its average volume of 164,344. The firm has a 50 day moving average price of $53.54 and a two-hundred day moving average price of $47.19. The stock has a market capitalization of $3.03 billion, a P/E ratio of 109.96, a P/E/G ratio of 3.10 and a beta of 1.16. Endava has a one year low of $27.21 and a one year high of $59.55. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.08 and a current ratio of 2.09.
Endava (NYSE:DAVA) last announced its quarterly earnings data on Tuesday, September 15th. The company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.16 by $0.07. Endava had a return on equity of 13.83% and a net margin of 6.85%. The firm had revenue of $90.50 million during the quarter, compared to the consensus estimate of $86.84 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The business's revenue was up 18.1% on a year-over-year basis. Research analysts forecast that Endava will post 0.91 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. grew its stake in shares of Endava by 17.2% in the second quarter. Federated Hermes Inc. now owns 486,374 shares of the company's stock worth $23,492,000 after acquiring an additional 71,226 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of Endava in the first quarter worth $3,807,000. Wells Fargo & Company MN grew its stake in shares of Endava by 13.1% in the first quarter. Wells Fargo & Company MN now owns 394,953 shares of the company's stock worth $13,886,000 after acquiring an additional 45,807 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Endava in the first quarter worth $259,000. Finally, Two Sigma Advisers LP grew its stake in shares of Endava by 113.4% in the first quarter. Two Sigma Advisers LP now owns 49,300 shares of the company's stock worth $1,733,000 after acquiring an additional 26,200 shares during the last quarter. 36.87% of the stock is currently owned by institutional investors.
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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