Endava (NYSE:DAVA) Downgraded to “Hold” Rating by Wall Street Zen

Endava (NYSE:DAVA) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Other equities research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft initiated coverage on Endava in a research report on Thursday, July 17th. They issued a “hold” rating and a $14.00 price objective on the stock. Guggenheim reiterated a “buy” rating and issued a $25.00 price objective on shares of Endava in a research report on Tuesday, June 10th. Susquehanna cut their price objective on Endava from $50.00 to $42.00 and set a “positive” rating on the stock in a research report on Tuesday, May 20th. TD Cowen lowered Endava from a “buy” rating to a “hold” rating and set a $17.00 price objective on the stock. in a research report on Thursday, May 15th. Finally, Cowen cut Endava from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $25.22.

Endava Price Performance

Shares of DAVA stock opened at $12.60 on Friday. The firm has a market cap of $743.78 million, a P/E ratio of 33.16 and a beta of 1.12. Endava has a fifty-two week low of $11.63 and a fifty-two week high of $34.94. The business’s 50 day moving average price is $14.23 and its 200-day moving average price is $19.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.18 and a current ratio of 2.18.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DAVA. Quantbot Technologies LP purchased a new position in Endava during the first quarter valued at $25,000. GAMMA Investing LLC raised its stake in Endava by 81.0% during the second quarter. GAMMA Investing LLC now owns 1,683 shares of the company’s stock valued at $26,000 after buying an additional 753 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Endava by 733.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,909 shares of the company’s stock valued at $29,000 after buying an additional 1,680 shares during the last quarter. State of Wyoming raised its stake in Endava by 112.7% during the first quarter. State of Wyoming now owns 2,367 shares of the company’s stock valued at $46,000 after buying an additional 1,254 shares during the last quarter. Finally, State of Tennessee Department of Treasury purchased a new position in Endava during the fourth quarter valued at $100,000. Hedge funds and other institutional investors own 62.23% of the company’s stock.

Endava Company Profile

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.