Endava PLC Sponsored ADR (NYSE:DAVA) Given Average Rating of “Reduce” by Brokerages

Endava PLC Sponsored ADR (NYSE:DAVA) has been assigned an average recommendation of “Reduce” from the eight analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $5.50.

Several research analysts recently issued reports on DAVA shares. CLSA set a $5.00 price objective on Endava in a research report on Friday, May 22nd. Morgan Stanley lowered their target price on Endava from $8.00 to $4.00 and set an “equal weight” rating on the stock in a report on Friday, May 22nd. Weiss Ratings downgraded Endava from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft set a $3.00 price target on Endava in a report on Friday, July 10th. Finally, JPMorgan Chase & Co. downgraded Endava from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $9.00 to $5.00 in a research report on Friday, May 22nd.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DAVA. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Endava during the 4th quarter worth about $24,563,000. Invesco Ltd. raised its position in shares of Endava by 6.4% in the second quarter. Invesco Ltd. now owns 3,661,123 shares of the company’s stock valued at $56,088,000 after buying an additional 220,465 shares during the last quarter. CDAM UK Ltd raised its position in shares of Endava by 28.2% in the fourth quarter. CDAM UK Ltd now owns 2,979,658 shares of the company’s stock valued at $18,831,000 after buying an additional 655,078 shares during the last quarter. Prescott Group Capital Management L.L.C. lifted its stake in shares of Endava by 32.1% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 1,606,324 shares of the company’s stock valued at $10,152,000 after buying an additional 389,970 shares during the period. Finally, UBS Group AG lifted its stake in shares of Endava by 128.4% during the third quarter. UBS Group AG now owns 756,082 shares of the company’s stock valued at $6,880,000 after buying an additional 425,106 shares during the period. Institutional investors and hedge funds own 62.23% of the company’s stock.

Endava Stock Up 0.3%

Shares of NYSE DAVA opened at $3.07 on Tuesday. The firm’s 50-day moving average is $2.98 and its two-hundred day moving average is $3.67. The company has a market capitalization of $172.56 million, a PE ratio of -0.29 and a beta of 1.03. Endava has a 12-month low of $2.55 and a 12-month high of $10.29. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.07 and a quick ratio of 2.07.

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.