Endava (NYSE:DAVA) Stock Rating Lowered by TD Cowen

Endava (NYSE:DAVA) was downgraded by research analysts at TD Cowen from a “buy” rating to a “hold” rating in a report released on Thursday, Marketbeat reports. They presently have a $17.00 price objective on the stock. TD Cowen’s price objective suggests a potential upside of 12.77% from the stock’s previous close.

Several other research firms have also recently weighed in on DAVA. Guggenheim lowered their price objective on shares of Endava from $40.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday. Needham & Company LLC reduced their target price on Endava from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday. Morgan Stanley lifted their price target on Endava from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, Susquehanna cut their price objective on Endava from $55.00 to $50.00 and set a “positive” rating for the company in a report on Friday, February 21st. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.41.

Endava Price Performance

Shares of NYSE DAVA opened at $15.08 on Thursday. The stock’s 50-day simple moving average is $18.99 and its two-hundred day simple moving average is $25.71. Endava has a twelve month low of $14.32 and a twelve month high of $34.94. The firm has a market capitalization of $889.89 million, a P/E ratio of 137.05, a P/E/G ratio of 2.26 and a beta of 1.25. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21.

Endava (NYSE:DAVA) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.06). Endava had a return on equity of 0.89% and a net margin of 0.74%. As a group, equities analysts anticipate that Endava will post 0.57 EPS for the current fiscal year.

Institutional Trading of Endava

Several institutional investors have recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Endava by 36.7% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,198,846 shares of the company’s stock valued at $120,939,000 after buying an additional 1,665,735 shares during the last quarter. Invesco Ltd. boosted its holdings in Endava by 5.0% during the 1st quarter. Invesco Ltd. now owns 3,440,658 shares of the company’s stock valued at $67,127,000 after acquiring an additional 164,475 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in Endava by 7.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,549,317 shares of the company’s stock valued at $78,774,000 after acquiring an additional 171,048 shares during the period. CDAM UK Ltd grew its position in Endava by 7.8% during the 4th quarter. CDAM UK Ltd now owns 2,348,674 shares of the company’s stock worth $72,574,000 after acquiring an additional 169,147 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in Endava by 80.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,806,044 shares of the company’s stock worth $55,807,000 after purchasing an additional 805,903 shares during the period. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

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.