Endava (NYSE:DAVA) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Endava (NYSE:DAVA) from a buy rating to a hold rating in a report published on Saturday.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Endava in a research note on Thursday, July 17th. They issued a “hold” rating and a $14.00 price target on the stock. Needham & Company LLC upped their price target on shares of Endava from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Guggenheim reiterated a “buy” rating and set a $25.00 price objective on shares of Endava in a research note on Tuesday, June 10th. Cowen downgraded shares of Endava from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $18.00 price objective on shares of Endava in a research note on Monday, May 19th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.22.

Endava Trading Up 1.5%

DAVA stock opened at $12.78 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.18 and a current ratio of 2.18. The company’s 50-day simple moving average is $14.15 and its 200 day simple moving average is $18.67. Endava has a 52 week low of $11.63 and a 52 week high of $34.94. The company has a market capitalization of $754.40 million, a PE ratio of 33.63 and a beta of 1.12.

Institutional Investors Weigh In On Endava

Hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in Endava in the 1st quarter valued at approximately $25,000. GAMMA Investing LLC raised its holdings in Endava by 81.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,683 shares of the company’s stock valued at $26,000 after buying an additional 753 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Endava by 733.6% in the 2nd 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 during the last quarter. State of Wyoming raised its holdings in Endava by 112.7% in the 1st 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 last quarter. Finally, State of Tennessee Department of Treasury bought a new position in Endava in the 4th quarter valued at approximately $100,000. 62.23% of the stock is currently owned by institutional investors and hedge funds.

About Endava

Endava plc provides technology services for clients in the consumer products, healthcare, mobility, and retail verticals in North America, Europe, the United Kingdom, and internationally. It offers ideation and production services in the payments and financial services, telecommunications, media, and technology verticals; and business analysis, data analytics, program management, digital product strategy, private equity value enhancement, IT strategy, architecture, extended reality, machine learning and artificial intelligence, product design, and user experience and visual design services.