Endava (NYSE:DAVA) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a report released 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 research firms have also recently issued reports on DAVA. Wedbush initiated coverage on Endava in a research report on Tuesday, May 26th. They set an "outperform" rating and a $60.00 target price on the stock. Citigroup lowered their price target on shares of Endava from $56.00 to $44.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 29th. Morgan Stanley began coverage on shares of Endava in a report on Monday, June 15th. They issued an "equal weight" rating and a $54.00 target price for the company. Needham & Company LLC raised their price objective on Endava from $40.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. Finally, ValuEngine upgraded Endava from a "sell" rating to a "hold" rating in a report on Tuesday, March 3rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of "Hold" and an average price target of $52.00.
Shares of DAVA traded down $2.17 during mid-day trading on Monday, hitting $48.41. 505,642 shares of the company's stock were exchanged, compared to its average volume of 173,377. The stock's 50-day moving average is $47.66 and its 200-day moving average is $45.36. 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 has a fifty-two week low of $27.21 and a fifty-two week high of $56.76. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 93.10, a P/E/G ratio of 2.78 and a beta of 1.23.
Endava (NYSE:DAVA) last posted its quarterly earnings results on Thursday, May 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.01. The company had revenue of $92.20 million for the quarter, compared to analyst estimates of $87.64 million. Endava had a return on equity of 13.83% and a net margin of 6.85%. Endava's revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 EPS. As a group, equities research analysts anticipate that Endava will post 0.91 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Group Inc. bought a new position in Endava during the fourth quarter valued at $28,000. Royal Bank of Canada bought a new position in shares of Endava during the first quarter valued at approximately $28,000. US Bancorp DE purchased a new stake in Endava in the first quarter worth $33,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Endava in the first quarter worth $56,000. Finally, Bank of America Corp DE boosted its holdings in shares of Endava by 294.3% during the 4th quarter. Bank of America Corp DE now owns 1,325 shares of the company's stock valued at $62,000 after acquiring an additional 989 shares during the last quarter. Hedge funds and other institutional investors own 33.49% of the company's stock.
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.
See Also: Consumer Price Index (CPI)
Get a free copy of the Zacks research report on Endava (DAVA)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
10 Rock-Solid Dividend Paying Stocks to Own
Historically low interest rates have made it difficult over the last decade for income-oriented investors that want to generate safe cash flow for their retirements.
Dividend-paying stocks have become more appealing to income investors because of their competitive yields, the favorite tax treatment that dividends receive and their ability to grow their payouts over time. While fixed interest rates from bond investments will lose purchasing power to inflation over time, the purchasing power of income from dividend growth stocks is more protected because companies tend raise their dividend payments every year.
In this slideshow, we look at ten of the best high-dividend stocks that offer strong yields (above 3.5%), have consistent cashflow and a strong track record of dividend growth. The companies in this slideshow have all raised their dividend every year for the last ten years.
These companies also have low payout ratios (below 75%), meaning that they will have the ability to continue to pay their dividend if their earnings have a temporary dip.
Stock prices will always fluctuate, but the dividends paid by these rock-solid dividend payers should remain secure with moderate earnings growth.
View the "10 Rock-Solid Dividend Paying Stocks to Own".