Endava (NYSE:DAVA) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of GBP 0.17-0.18 for the period, compared to the Thomson Reuters consensus estimate of $0.17. The company issued revenue guidance of GBP 75-76 million, compared to the consensus revenue estimate of $74.83 million.

Separately, Zacks Investment Research lowered Endava from a strong-buy rating to a hold rating in a report on Monday, May 6th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Endava currently has an average rating of Hold and a consensus target price of $29.00.

DAVA stock opened at $32.90 on Tuesday. The stock has a market cap of $1.74 billion and a price-to-earnings ratio of 46.34. Endava has a twelve month low of $21.13 and a twelve month high of $35.50.

Endava (NYSE:DAVA) last posted its earnings results on Thursday, February 28th. The company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.09. The company had revenue of $92.41 million for the quarter, compared to analysts’ expectations of $76.46 million. As a group, equities research analysts expect that Endava will post 0.85 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Endava stock. Morgan Stanley raised its stake in shares of Endava PLC – (NYSE:DAVA) by 179.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,012 shares of the company’s stock after buying an additional 1,936 shares during the quarter. Morgan Stanley’s holdings in Endava were worth $83,000 at the end of the most recent reporting period. 12.56% of the stock is owned by institutional investors.

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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.

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