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

Endava PLC Sponsored ADR (NYSE:DAVA) has received a consensus recommendation of “Reduce” from the eight ratings firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $5.50.

A number of brokerages have recently weighed in on DAVA. Weiss Ratings lowered shares of Endava from a “sell (d)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Guggenheim cut Endava from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 27th. JPMorgan Chase & Co. downgraded Endava from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $9.00 to $5.00 in a report on Friday, May 22nd. CLSA set a $5.00 price objective on Endava in a report on Friday, May 22nd. Finally, TD Cowen cut their target price on Endava from $4.00 to $3.50 and set a “hold” rating on the stock in a research report on Thursday, July 9th.

Institutional Investors Weigh In On Endava

A number of institutional investors and hedge funds have recently bought and sold shares of DAVA. T. Rowe Price Investment Management Inc. acquired a new position in Endava in the fourth quarter valued at $24,563,000. Invesco Ltd. grew its holdings in shares of Endava by 6.4% during the second quarter. Invesco Ltd. now owns 3,661,123 shares of the company’s stock worth $56,088,000 after buying an additional 220,465 shares during the last quarter. CDAM UK Ltd grew its holdings in shares of Endava by 28.2% during the fourth quarter. CDAM UK Ltd now owns 2,979,658 shares of the company’s stock worth $18,831,000 after buying an additional 655,078 shares during the last quarter. Prescott Group Capital Management L.L.C. increased its position in Endava by 32.1% in the 4th 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 acquiring an additional 389,970 shares during the period. Finally, UBS Group AG raised its stake in Endava by 128.4% during the 3rd quarter. UBS Group AG now owns 756,082 shares of the company’s stock valued at $6,880,000 after acquiring an additional 425,106 shares during the last quarter. 62.23% of the stock is owned by hedge funds and other institutional investors.

Endava Stock Up 3.1%

DAVA stock opened at $3.31 on Tuesday. The company’s 50 day moving average price is $2.95 and its 200 day moving average price is $3.74. The firm has a market capitalization of $186.06 million, a price-to-earnings ratio of -0.31 and a beta of 1.02. Endava has a fifty-two week low of $2.55 and a fifty-two week high of $14.99. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.07 and a current 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.