Endava (DAVA) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Endava (NYSE:DAVA) from a strong-buy rating to a hold rating in a research note issued to 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. “

DAVA stock opened at $32.97 on Monday. The company has a market capitalization of $1.80 billion and a P/E ratio of 46.44. Endava has a 52 week low of $21.13 and a 52 week high of $34.50.

Endava (NYSE:DAVA) last released its earnings results on Thursday, February 28th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. The company had revenue of $92.41 million during the quarter, compared to analyst estimates of $76.46 million. Analysts anticipate that Endava will post 0.85 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC acquired a new stake in Endava during the 1st quarter valued at approximately $217,000. Pendal Group Ltd lifted its stake in Endava by 27.8% during the 4th quarter. Pendal Group Ltd now owns 14,710 shares of the company’s stock valued at $357,000 after acquiring an additional 3,197 shares during the period. Marshall Wace North America L.P. acquired a new stake in Endava during the 3rd quarter valued at approximately $608,000. JPMorgan Chase & Co. lifted its stake in Endava by 440.6% during the 1st quarter. JPMorgan Chase & Co. now owns 31,219 shares of the company’s stock valued at $859,000 after acquiring an additional 25,444 shares during the period. Finally, Wasatch Advisors Inc. lifted its stake in Endava by 46.0% during the 1st quarter. Wasatch Advisors Inc. now owns 162,129 shares of the company’s stock valued at $4,459,000 after acquiring an additional 51,077 shares during the period. Institutional investors and hedge funds own 12.51% of the company’s stock.

Endava Company Profile

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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