Endava’s (DAVA) “Equal Weight” Rating Reiterated at Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Endava (NYSE:DAVA) in a report published on Monday, Benzinga reports. They currently have a $40.00 price target on the stock.

DAVA has been the topic of a number of other research reports. Guggenheim began coverage on Endava in a report on Tuesday, March 19th. They issued a buy rating and a $60.00 target price on the stock. JPMorgan Chase & Co. raised Endava from a neutral rating to an overweight rating and set a $49.00 target price on the stock in a report on Tuesday, March 19th. Citigroup decreased their price target on Endava from $40.00 to $33.00 and set a neutral rating on the stock in a research note on Monday. TD Cowen decreased their price target on Endava from $85.00 to $52.00 and set an outperform rating on the stock in a research note on Friday, March 1st. Finally, HSBC downgraded 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 note on Monday, January 8th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $55.56.

Endava Trading Down 1.1 %

NYSE:DAVA opened at $29.98 on Monday. The firm has a market cap of $1.73 billion, a P/E ratio of 20.68 and a beta of 1.10. The stock’s 50 day simple moving average is $41.39 and its 200-day simple moving average is $57.81. Endava has a 12-month low of $29.54 and a 12-month high of $81.06.

Endava (NYSE:DAVA) last released its earnings results on Thursday, February 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $227.96 million during the quarter, compared to analyst estimates of $231.07 million. Endava had a net margin of 8.88% and a return on equity of 11.77%. Research analysts forecast that Endava will post 0.62 EPS for the current fiscal year.

Institutional Trading of Endava

A number of institutional investors have recently bought and sold shares of the company. Assetmark Inc. raised its holdings in shares of Endava by 47.8% in the 4th quarter. Assetmark Inc. now owns 510 shares of the company’s stock worth $40,000 after purchasing an additional 165 shares during the period. Global Retirement Partners LLC raised its holdings in shares of Endava by 41.8% during the 3rd quarter. Global Retirement Partners LLC now owns 1,234 shares of the company’s stock valued at $69,000 after buying an additional 364 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Endava by 34.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,424 shares of the company’s stock valued at $111,000 after buying an additional 368 shares during the period. Verdence Capital Advisors LLC raised its holdings in shares of Endava by 8.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 5,604 shares of the company’s stock valued at $321,000 after buying an additional 437 shares during the period. Finally, Capital International Sarl raised its holdings in shares of Endava by 4.3% during the 4th quarter. Capital International Sarl now owns 16,996 shares of the company’s stock valued at $1,323,000 after buying an additional 708 shares during the period. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

Endava Company Profile

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.