Endava (NYSE:DAVA) Rating Lowered to “Sell” at Wall Street Zen

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

A number of other analysts have also weighed in on the stock. Needham & Company LLC lowered their price target on shares of Endava from $12.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. JPMorgan Chase & Co. dropped their price target on shares of Endava from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. Zacks Research upgraded shares of Endava from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Guggenheim lowered their target price on shares of Endava from $18.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Finally, Morgan Stanley dropped their target price on shares of Endava from $11.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, November 13th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Endava has a consensus rating of “Hold” and a consensus target price of $16.43.

Endava Stock Down 3.4%

Shares of NYSE:DAVA opened at $6.11 on Friday. 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 firm has a market cap of $343.16 million, a P/E ratio of 30.53 and a beta of 1.24. Endava has a 12 month low of $6.02 and a 12 month high of $34.94. The company’s 50-day moving average price is $7.12 and its two-hundred day moving average price is $10.28.

Institutional Investors Weigh In On Endava

Large investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in shares of Endava by 81.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,683 shares of the company’s stock valued at $26,000 after purchasing an additional 753 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Endava by 733.6% in 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 in the last quarter. State of Wyoming boosted its holdings in shares of Endava by 112.7% in 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 period. Advisory Services Network LLC bought a new stake in shares of Endava during the third quarter worth $28,000. Finally, Vident Advisory LLC bought a new stake in shares of Endava during the second quarter worth $160,000. 62.23% of the stock is currently owned by institutional investors.

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.