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 Friday 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. “

A number of other research analysts have also issued reports on the stock. Morgan Stanley initiated coverage on shares of Endava in a report on Tuesday, August 21st. They issued a weight rating and a $29.00 price objective for the company. Credit Suisse Group initiated coverage on shares of Endava in a report on Tuesday, August 21st. They issued a neutral rating and a $27.00 price objective for the company. Citigroup dropped their price objective on shares of Endava from $30.00 to $27.00 and set a neutral rating for the company in a report on Friday, October 12th. Deutsche Bank initiated coverage on shares of Endava in a report on Wednesday, August 22nd. They issued a hold rating and a $29.00 price objective for the company. Finally, Cowen initiated coverage on shares of Endava in a report on Tuesday, August 21st. They issued an outperform rating and a $27.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Endava has a consensus rating of Hold and an average target price of $27.80.

Shares of DAVA stock traded down $0.51 on Friday, reaching $23.95. The company had a trading volume of 28,682 shares, compared to its average volume of 34,669. The stock has a market capitalization of $1.27 billion and a P/E ratio of 33.73. Endava has a one year low of $21.13 and a one year high of $31.50.

Endava (NYSE:DAVA) last posted its earnings results on Thursday, October 11th. The company reported $0.20 EPS for the quarter. The company had revenue of $8.37 million during the quarter. Sell-side analysts forecast that Endava will post 0.72 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. FMR LLC acquired a new stake in Endava during the 3rd quarter valued at approximately $23,755,000. BlackRock Inc. acquired a new stake in Endava during the 3rd quarter valued at approximately $14,213,000. Wells Fargo & Company MN acquired a new stake in Endava during the 3rd quarter valued at approximately $5,996,000. AXA acquired a new stake in Endava during the 3rd quarter valued at approximately $3,144,000. Finally, Pendal Group Ltd acquired a new stake in Endava during the 3rd quarter valued at approximately $333,000. 1.48% of the stock is owned by institutional investors and hedge funds.

About Endava

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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