Endava (NYSE:DAVA) Cut to Hold at TD Cowen

TD Cowen cut shares of Endava (NYSE:DAVA) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, MarketBeat.com reports. They currently have $17.00 price objective on the stock.

Several other research analysts have also recently issued reports on the company. Morgan Stanley increased their price objective on Endava from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Needham & Company LLC lowered their price target on shares of Endava from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday. Guggenheim reduced their price objective on shares of Endava from $40.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Finally, Susquehanna lowered their target price on shares of Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a research report on Friday, February 21st. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.41.

Endava Trading Up 2.0%

NYSE DAVA opened at $15.08 on Thursday. 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 stock has a market capitalization of $889.89 million, a P/E ratio of 137.05, a P/E/G ratio of 2.26 and a beta of 1.25. Endava has a 52-week low of $14.32 and a 52-week high of $34.94. The firm has a 50-day moving average price of $18.99 and a 200 day moving average price of $25.72.

Endava (NYSE:DAVA) last released its earnings results on Wednesday, May 14th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.06). Endava had a return on equity of 0.89% and a net margin of 0.74%. Equities research analysts expect that Endava will post 0.57 EPS for the current year.

Hedge Funds Weigh In On Endava

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAVA. Oppenheimer Asset Management Inc. purchased a new position in shares of Endava during the 4th quarter worth approximately $215,000. Natixis Advisors LLC raised its holdings in shares of Endava by 44.8% in the fourth quarter. Natixis Advisors LLC now owns 45,340 shares of the company’s stock worth $1,401,000 after acquiring an additional 14,023 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Endava by 13.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 204,300 shares of the company’s stock valued at $6,313,000 after acquiring an additional 25,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Endava by 35.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,289 shares of the company’s stock valued at $843,000 after acquiring an additional 7,124 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Endava by 26.1% during the fourth quarter. Sei Investments Co. now owns 118,095 shares of the company’s stock valued at $3,649,000 after acquiring an additional 24,426 shares during the last quarter. Institutional investors and hedge funds own 62.23% of the company’s stock.

About Endava

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.