Endava (NYSE:DAVA) Upgraded to Buy by ValuEngine

ValuEngine upgraded shares of Endava (NYSE:DAVA) from a hold rating to a buy rating in a report released on Monday, ValuEngine reports.

A number of other research analysts have also issued reports on DAVA. KeyCorp began coverage on Endava in a research report on Thursday, June 6th. They set a sector weight rating and a $38.26 price objective for the company. Zacks Investment Research upgraded Endava from a sell rating to a hold rating in a research report on Tuesday, July 23rd. Finally, Morgan Stanley boosted their price objective on Endava from $33.00 to $37.00 and gave the company an equal weight rating in a research report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $31.32.

Shares of DAVA traded down $0.55 during mid-day trading on Monday, hitting $36.51. The stock had a trading volume of 5,687 shares, compared to its average volume of 65,445. The stock has a market capitalization of $1.99 billion and a P/E ratio of 51.42. The company’s fifty day moving average price is $38.95. Endava has a fifty-two week low of $21.13 and a fifty-two week high of $43.93.

Endava (NYSE:DAVA) last issued its earnings results on Tuesday, May 21st. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.22 by $0.03. The company had revenue of $73.06 million during the quarter, compared to analyst estimates of $71.82 million. Endava had a return on equity of 30.34% and a net margin of 9.59%. The business’s revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 EPS. Analysts forecast that Endava will post 0.8 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Wasatch Advisors Inc. raised 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 in the last quarter. Kornitzer Capital Management Inc. KS bought a new stake in Endava during the 2nd quarter valued at $2,766,000. MYDA Advisors LLC bought a new stake in Endava during the 1st quarter valued at $1,430,000. Marshall Wace LLP raised its stake in Endava by 52.6% during the 1st quarter. Marshall Wace LLP now owns 45,007 shares of the company’s stock valued at $1,238,000 after acquiring an additional 15,519 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Endava during the 2nd quarter valued at $1,196,000. Institutional investors and hedge funds own 13.77% 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.

Recommended Story: Conference Calls and Individual Investors

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Endava (NYSE:DAVA)

Receive News & Ratings for Endava Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Endava and related companies with MarketBeat.com's FREE daily email newsletter.