Endava (NYSE:DAVA) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Endava (NYSE:DAVA) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Several other equities research analysts have also recently commented on the company. Needham & Company LLC cut their price target on Endava from $12.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Guggenheim reduced their price target on Endava from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Morgan Stanley lowered their price target on shares of Endava from $11.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 13th. William Blair cut shares of Endava from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Endava from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.43.

Endava Price Performance

Shares of NYSE DAVA opened at $6.31 on Friday. The firm has a 50-day simple moving average of $6.60 and a 200-day simple moving average of $9.19. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $354.69 million, a price-to-earnings ratio of 31.55 and a beta of 1.24. Endava has a 52 week low of $6.02 and a 52 week high of $34.94.

Hedge Funds Weigh In On Endava

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Alberta Investment Management Corp increased its position in Endava by 35.6% in 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 during the period. Prescott Group Capital Management L.L.C. grew its stake in shares of Endava by 107.8% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 607,139 shares of the company’s stock valued at $9,301,000 after purchasing an additional 315,000 shares during the last quarter. Paradice Investment Management LLC increased its holdings in shares of Endava by 19.5% in the third quarter. Paradice Investment Management LLC now owns 1,871,926 shares of the company’s stock valued at $17,035,000 after purchasing an additional 306,066 shares during the period. Ensign Peak Advisors Inc raised its stake in shares of Endava by 16.0% during the second quarter. Ensign Peak Advisors Inc now owns 1,271,881 shares of the company’s stock worth $19,485,000 after purchasing an additional 175,868 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Endava by 27.3% during the second quarter. Acadian Asset Management LLC now owns 197,025 shares of the company’s stock worth $3,010,000 after purchasing an additional 42,306 shares during the period. 62.23% of the stock is owned by institutional investors and hedge funds.

Endava Company Profile

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.