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

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

DAVA has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased 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. Morgan Stanley reduced their target price on shares of Endava from $11.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday, November 13th. William Blair lowered Endava from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 11th. Weiss Ratings restated a “sell (d)” rating on shares of Endava in a research report on Wednesday, October 8th. Finally, Zacks Research raised Endava from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $16.43.

Endava Price Performance

DAVA stock opened at $6.40 on Friday. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $359.46 million, a P/E ratio of 31.98 and a beta of 1.24. The business has a 50 day simple moving average of $7.06 and a 200-day simple moving average of $10.22. Endava has a twelve month low of $6.02 and a twelve month high of $34.94.

Hedge Funds Weigh In On Endava

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAVA. Prescott Group Capital Management L.L.C. lifted its holdings in shares of Endava by 100.3% in the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 1,216,354 shares of the company’s stock valued at $11,069,000 after buying an additional 609,215 shares during the period. UBS Group AG lifted its holdings in Endava by 128.4% in the third 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 period. Paradice Investment Management LLC boosted its position in shares of Endava by 29.2% during the 2nd quarter. Paradice Investment Management LLC now owns 1,565,860 shares of the company’s stock worth $23,989,000 after purchasing an additional 353,587 shares in the last quarter. Alberta Investment Management Corp grew its stake in shares of Endava by 35.6% during the 2nd quarter. Alberta Investment Management Corp now owns 1,288,334 shares of the company’s stock worth $19,737,000 after purchasing an additional 338,334 shares during the period. Finally, Barclays PLC purchased a new position in shares of Endava in the 3rd quarter valued at about $2,356,000. Institutional investors and hedge funds own 62.23% of the company’s stock.

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.