Endava’s (DAVA) Hold Rating Reiterated at TD Cowen

TD Cowen restated their hold rating on shares of Endava (NYSE:DAVA) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $3.50 price target on the stock.

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

Endava Price Performance

Endava stock opened at $1.70 on Tuesday. The company has a fifty day simple moving average of $2.93 and a 200-day simple moving average of $3.46. The firm has a market capitalization of $95.28 million, a price-to-earnings ratio of -0.16 and a beta of 1.03. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 1.13. Endava has a 52-week low of $1.68 and a 52-week high of $9.88.

Institutional Investors Weigh In On Endava

A number of institutional investors have recently made changes to their positions in the stock. Savant Capital LLC acquired a new stake in shares of Endava in the fourth quarter worth approximately $76,000. Alpine Global Management LLC acquired a new position in Endava during the fourth quarter worth approximately $87,000. SmartHarvest Portfolios LLC acquired a new position in Endava during the first quarter worth approximately $84,000. Barometer Capital Management Inc. raised its stake in Endava by 32.5% during the first 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 during the period. Finally, CDAM UK Ltd raised its stake in 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 purchasing an additional 655,078 shares during the period. 62.23% of the stock is currently owned by institutional investors and hedge funds.

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.