JPMorgan Chase & Co. Reaffirms Neutral Rating for Endava (NYSE:DAVA)

Endava (NYSE:DAVA)‘s stock had its “neutral” rating reissued by JPMorgan Chase & Co. in a research report issued on Monday, Marketbeat reports. They presently have a $18.00 target price on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 19.68% from the stock’s previous close.

A number of other equities research analysts have also recently commented on DAVA. Susquehanna lowered their price target on shares of Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a report on Friday, February 21st. Needham & Company LLC lowered their target price on Endava from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, May 15th. Morgan Stanley increased their price target on Endava from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Guggenheim lowered their price objective on Endava from $40.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Finally, TD Cowen lowered shares of Endava from a “buy” rating to a “hold” rating and set a $17.00 target price for the company. in a research report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $29.71.

Endava Stock Down 2.0%

Shares of NYSE DAVA opened at $15.04 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21. The firm has a market cap of $887.83 million, a PE ratio of 136.73, a P/E/G ratio of 2.26 and a beta of 1.25. The company’s fifty day simple moving average is $18.76 and its 200 day simple moving average is $25.60. Endava has a 12-month low of $14.32 and a 12-month high of $34.94.

Endava (NYSE:DAVA) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.18). Endava had a return on equity of 0.89% and a net margin of 0.74%. The company had revenue of $250.63 million for the quarter, compared to the consensus estimate of $197.33 million. As a group, sell-side analysts forecast that Endava will post 0.57 earnings per share for the current fiscal year.

Institutional Trading of Endava

Institutional investors have recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Endava by 36.7% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,198,846 shares of the company’s stock valued at $120,939,000 after acquiring an additional 1,665,735 shares during the last quarter. Invesco Ltd. lifted its position in Endava by 5.0% in the first quarter. Invesco Ltd. now owns 3,440,658 shares of the company’s stock valued at $67,127,000 after purchasing an additional 164,475 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Endava by 7.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,549,317 shares of the company’s stock valued at $78,774,000 after purchasing an additional 171,048 shares during the last quarter. CDAM UK Ltd boosted its stake in shares of Endava by 7.8% during the fourth quarter. CDAM UK Ltd now owns 2,348,674 shares of the company’s stock valued at $72,574,000 after purchasing an additional 169,147 shares during the period. Finally, Alyeska Investment Group L.P. grew its holdings in shares of Endava by 80.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,806,044 shares of the company’s stock worth $55,807,000 after purchasing an additional 805,903 shares during the last quarter. 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.