Endava (NYSE:DAVA) Stock Rating Reaffirmed as Hold by TD Cowen

Endava (NYSE:DAVA)‘s stock had its “hold” rating reaffirmed by stock analysts at TD Cowen in a research note issued on Tuesday, September 22nd, Benzinga reports. They presently have a $3.50 price target on the stock. TD Cowen’s price objective points to a potential upside of 114.07% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Zacks Research upgraded shares of Endava from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. William Blair cut shares of Endava from a “market perform” rating to an “underperform” rating in a research note on Tuesday, September 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Endava from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Tuesday, September 22nd. Guggenheim cut shares of Endava from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Endava in a research note on Tuesday, September 8th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $5.36.

Endava Stock Performance

Shares of Endava stock traded down $0.07 on Tuesday, hitting $1.64. 1,264,673 shares of the company’s stock were exchanged, compared to its average volume of 412,717. The company has a 50-day simple moving average of $2.89 and a 200-day simple moving average of $3.41. The stock has a market capitalization of $91.90 million, a PE ratio of -0.16 and a beta of 1.03. Endava has a 1 year low of $1.60 and a 1 year high of $9.88. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.07 and a current ratio of 2.07.

Institutional Trading of Endava

Hedge funds have recently bought and sold shares of the stock. CDAM UK Ltd lifted its stake in Endava by 28.2% in the 4th quarter. CDAM UK Ltd now owns 2,979,658 shares of the company’s stock worth $18,831,000 after purchasing an additional 655,078 shares in the last quarter. Barometer Capital Management Inc. lifted its stake in Endava by 32.5% in the 1st quarter. Barometer Capital Management Inc. now owns 106,300 shares of the company’s stock worth $470,000 after purchasing an additional 26,080 shares in the last quarter. SmartHarvest Portfolios LLC purchased a new stake in Endava in the 1st quarter worth $84,000. Alpine Global Management LLC purchased a new stake in Endava in the 4th quarter worth $87,000. Finally, Savant Capital LLC purchased a new stake in Endava in the 4th quarter worth $76,000. Hedge funds and other institutional investors own 62.23% of the company’s stock.

About Endava

Endava plc is a technology services company that helps organizations design, build and operate digital products and technology platforms. Its services include software engineering, cloud modernization, data and analytics, artificial intelligence, customer experience, cybersecurity and technology consulting.

The company works with clients across industries such as payments, banking, insurance, telecommunications, media, retail, mobility, healthcare and technology. Endava supports projects ranging from digital transformation and application development to platform modernization and ongoing technology operations.

Founded in 2000 and headquartered in London, Endava serves clients across Europe, North America, Latin America and the Asia-Pacific region.