Endava PLC Sponsored ADR (NYSE:DAVA) Receives Consensus Rating of “Hold” from Analysts

Endava PLC Sponsored ADR (NYSE:DAVA) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $15.7143.

DAVA has been the subject of a number of research analyst reports. Guggenheim lowered their price target on Endava from $15.00 to $13.00 and set a “buy” rating for the company in a report on Friday, February 13th. Needham & Company LLC reduced their price objective on Endava from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. JPMorgan Chase & Co. decreased their target price on Endava from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. Finally, Wall Street Zen raised Endava from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th.

Hedge Funds Weigh In On Endava

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alberta Investment Management Corp boosted its holdings in shares of Endava by 35.6% during the 2nd quarter. Alberta Investment Management Corp now owns 1,288,334 shares of the company’s stock valued at $19,737,000 after acquiring an additional 338,334 shares in the last quarter. Paradice Investment Management LLC increased its holdings in Endava by 19.5% in the 3rd quarter. Paradice Investment Management LLC now owns 1,871,926 shares of the company’s stock worth $17,035,000 after purchasing an additional 306,066 shares in the last quarter. Ensign Peak Advisors Inc raised its position in Endava by 16.0% in the second quarter. Ensign Peak Advisors Inc now owns 1,271,881 shares of the company’s stock valued at $19,485,000 after purchasing an additional 175,868 shares during the last quarter. Prescott Group Capital Management L.L.C. boosted its stake in shares of Endava by 100.3% during the third quarter. Prescott Group Capital Management L.L.C. now owns 1,216,354 shares of the company’s stock valued at $11,069,000 after purchasing an additional 609,215 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Endava by 17.3% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 454,536 shares of the company’s stock valued at $6,963,000 after purchasing an additional 66,979 shares in the last quarter. Institutional investors own 62.23% of the company’s stock.

Endava Stock Down 1.3%

Shares of DAVA opened at $4.85 on Tuesday. The firm has a 50 day simple moving average of $5.76 and a two-hundred day simple moving average of $7.49. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.39 and a quick ratio of 2.39. Endava has a one year low of $4.38 and a one year high of $22.94. The company has a market cap of $272.33 million, a P/E ratio of -44.05 and a beta of 1.28.

About Endava

Endava PLC is a publicly traded technology services company specializing in digital transformation and agile software development. The firm helps enterprise clients design, build and manage custom software solutions across industries such as financial services, payments, retail, telecommunications and media. Its service offerings span end-to-end product design, customer experience, application development, quality engineering, DevOps, automation and artificial intelligence, all delivered through agile methodologies.

Founded in 2000, Endava has grown from a small software provider into a global IT partner.