Zacks Investment Research Lowers Endava (DAVA) to Sell

Zacks Investment Research downgraded shares of Endava (NYSE:DAVA) from a hold rating to a sell rating in a research report released on Wednesday morning.

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. “

Other equities analysts also recently issued reports about the stock. Citigroup began coverage on shares of Endava in a report on Tuesday, August 21st. They set a neutral rating and a $30.00 price objective on the stock. Cowen began coverage on shares of Endava in a report on Tuesday, August 21st. They set an outperform rating and a $27.00 price objective on the stock. Credit Suisse Group began coverage on shares of Endava in a report on Tuesday, August 21st. They set a neutral rating and a $27.00 price objective on the stock. Deutsche Bank began coverage on shares of Endava in a report on Wednesday, August 22nd. They set a hold rating and a $29.00 price objective on the stock. Finally, Morgan Stanley assumed coverage on shares of Endava in a report on Tuesday, August 21st. They set a weight rating and a $29.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $28.00.

DAVA opened at $24.70 on Wednesday. The firm has a market cap of $1.32 billion and a price-to-earnings ratio of 34.79. Endava has a 52-week low of $21.13 and a 52-week high of $31.50.

Endava (NYSE:DAVA) last posted its quarterly earnings data on Thursday, November 29th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.08. The company had revenue of $66.40 million for the quarter, compared to analysts’ expectations of $62.26 million. The firm’s revenue for the quarter was up 39.8% compared to the same quarter last year. As a group, equities research analysts predict that Endava will post 0.83 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Grandeur Peak Global Advisors LLC acquired a new stake in shares of Endava in the third quarter valued at about $3,183,000. Zimmer Partners LP acquired a new stake in shares of Endava in the third quarter valued at about $856,000. Pentwater Capital Management LP acquired a new stake in shares of Endava in the third quarter valued at about $485,000. Capital World Investors acquired a new stake in shares of Endava in the third quarter valued at about $20,555,000. Finally, Bamco Inc. NY acquired a new stake in shares of Endava in the third quarter valued at about $8,939,000. Institutional investors and hedge funds own 5.30% of the company’s stock.

Endava Company Profile

Endava plc provides IT service to finance, insurance and healthcare, retail and consumer goods, telecommunications, media, and technology industries in the United Kingdom. It offers architecture solutions; AI and Intelligent Automation, bots and natural language interfaces, and Robotic Process Automation; software engineering; testing solutions; cloud services; and application management services.

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