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LONDON - Endava plc (NYSE:DAVA), a technology services provider with a market capitalization of $891 million, announced several changes to its executive leadership team on Tuesday as part of a strategic reorganization. The company, which has seen its stock decline by 52% over the past six months, maintains strong liquidity with a current ratio of 2.18.According to InvestingPro analysis, Endava’s financial health is rated as "Fair," with 8 additional key insights available to subscribers.
CEO John Cotterell has taken on additional operational responsibilities for sales and go-to-market strategy, following the retirement of Chief Operating Officer Julian Bull. The company described this as a move toward a more centralized leadership model.
Alastair Lukies CBE has joined Endava as Chief Engagement Officer, focusing on deepening stakeholder engagement both externally and internally. Lukies will also chair Endava’s recently announced Global Advisory Board, which the company has established to support its AI-driven growth initiatives.
Rob Machin, a former COO of the company, has returned to a senior leadership role as Chief People and Locations Officer. Machin succeeds David Churchill, who has stepped down as Chief People Officer and will be leaving the company. In his new role, Machin will focus on building upon Endava’s engineering culture to deliver value to clients in core systems modernization and AI technologies implementation.
"These changes mark an exciting new chapter for Endava," Cotterell said in a statement. "I am delighted to welcome Alastair Lukies as our Chief Engagement Officer."
As of March 31, 2025, Endava reported having 11,365 employees serving clients across various industries including payments, insurance, finance, technology, healthcare, and retail.
The information in this article is based on a press release issued by Endava.
In other recent news, Endava has formed a global advisory board to enhance its AI-focused business transformation services. This board, chaired by Alastair Lukies CBE and co-chaired by Dame Alison Rose, includes 12 industry experts who will guide the company on growth strategies and market opportunities. Meanwhile, JPMorgan has downgraded Endava’s stock rating from Overweight to Neutral, setting a new price target of $18. This decision follows disappointing financial results and a reduced outlook, with the company facing growth challenges in its Payments/TMT sectors.
Needham also adjusted its price target for Endava from $22 to $18, though it maintained a Buy rating, citing potential benefits from AI adoption and increased demand for digital transformation services. On the other hand, TD Cowen downgraded the stock from Buy to Hold, reducing the price target to $17 due to a challenging market environment and limited growth prospects. BofA Securities maintained a Neutral rating with a $20 price target, highlighting ongoing demand softness and difficulties in converting business pipelines into sales.
Endava’s third-quarter fiscal year 2025 earnings missed revenue expectations, prompting a downward revision of its full-year guidance. In response, the company has increased its share repurchase authorization by $50 million to mitigate potential stock price declines. Despite the challenges, some analysts remain optimistic about Endava’s long-term potential, particularly with AI and digital transformation opportunities on the horizon.
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