Endava (DAVA) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Endava (NYSE:DAVA) from a sell rating to a hold rating in a research report sent to investors 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 research reports about the stock. Citigroup began coverage on shares of Endava in a research note on Tuesday, August 21st. They set a neutral rating and a $30.00 target price for the company. Cowen assumed coverage on shares of Endava in a research report on Tuesday, August 21st. They set an outperform rating and a $27.00 price target for the company. Credit Suisse Group assumed coverage on shares of Endava in a research report on Tuesday, August 21st. They set a neutral rating and a $27.00 price target for the company. Deutsche Bank assumed coverage on shares of Endava in a research report on Wednesday, August 22nd. They set a hold rating and a $29.00 price target for the company. Finally, Morgan Stanley assumed coverage on shares of Endava in a research report on Tuesday, August 21st. They set a weight rating and a $29.00 price target for the company. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $27.80.

Shares of NYSE DAVA opened at $25.50 on Wednesday. Endava has a fifty-two week low of $21.13 and a fifty-two week high of $31.50.

Endava (NYSE:DAVA) last announced its earnings results on Thursday, October 11th. The company reported $0.20 earnings per share for the quarter. The business had revenue of $8.37 million for the quarter. On average, sell-side analysts expect that Endava will post 0.72 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pendal Group Ltd bought a new stake in shares of Endava during the third quarter valued at approximately $333,000. Pentwater Capital Management LP bought a new stake in shares of Endava during the third quarter valued at approximately $485,000. Zimmer Partners LP bought a new stake in shares of Endava during the third quarter valued at approximately $856,000. Citadel Advisors LLC bought a new stake in shares of Endava during the third quarter valued at approximately $917,000. Finally, Riverhead Capital Management LLC bought a new stake in shares of Endava during the third quarter valued at approximately $1,737,000. 5.30% of the stock is owned by institutional investors.

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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