Endava plc (NYSE:DAVA) Receives $60.78 Average PT from Analysts

Shares of Endava plc (NYSE:DAVA) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $60.78.

A number of brokerages recently issued reports on DAVA. Guggenheim initiated coverage on shares of Endava in a report on Tuesday, March 19th. They issued a “buy” rating and a $60.00 price objective for the company. HSBC lowered shares of Endava from a “buy” rating to a “hold” rating and lifted their price target for the company from $68.00 to $80.00 in a research report on Monday, January 8th. Citigroup reiterated a “neutral” rating and issued a $40.00 price objective (down from $90.00) on shares of Endava in a report on Friday, March 1st. TD Cowen cut their target price on Endava from $85.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. raised Endava from a “neutral” rating to an “overweight” rating and set a $49.00 price target on the stock in a research note on Tuesday, March 19th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DAVA. Price T Rowe Associates Inc. MD lifted its stake in Endava by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,588,111 shares of the company’s stock worth $576,950,000 after acquiring an additional 333,749 shares in the last quarter. Capital International Investors lifted its position in shares of Endava by 3.2% during the fourth quarter. Capital International Investors now owns 2,115,202 shares of the company’s stock worth $164,668,000 after purchasing an additional 65,794 shares in the last quarter. FMR LLC grew its holdings in shares of Endava by 16.5% in the third quarter. FMR LLC now owns 1,807,318 shares of the company’s stock valued at $103,650,000 after purchasing an additional 256,250 shares in the last quarter. CDAM UK Ltd increased its stake in Endava by 1.8% during the 4th quarter. CDAM UK Ltd now owns 1,451,449 shares of the company’s stock worth $112,995,000 after buying an additional 25,570 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Endava during the 3rd quarter worth approximately $58,433,000. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

Endava Price Performance

Shares of Endava stock opened at $30.61 on Tuesday. The stock’s 50 day simple moving average is $46.78 and its 200-day simple moving average is $59.13. The stock has a market cap of $1.77 billion, a P/E ratio of 21.11 and a beta of 1.10. Endava has a 1-year low of $29.69 and a 1-year high of $81.06.

Endava (NYSE:DAVA) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $227.96 million for the quarter, compared to analysts’ expectations of $231.07 million. Endava had a return on equity of 11.77% and a net margin of 8.88%. As a group, research analysts expect that Endava will post 0.66 EPS for the current fiscal year.

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.