Endava PLC Sponsored ADR (NYSE:DAVA) Receives Average Recommendation of “Hold” from Brokerages

Endava PLC Sponsored ADR (NYSE:DAVA) has earned a consensus recommendation of “Hold” from the eleven brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $16.4286.

DAVA has been the subject of a number of recent analyst reports. Cowen restated a “hold” rating on shares of Endava in a report on Friday, September 5th. JPMorgan Chase & Co. decreased their price target on Endava from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Endava in a report on Wednesday, October 8th. Guggenheim reduced their price objective on Endava from $18.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Finally, Morgan Stanley decreased their target price on Endava from $11.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, November 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its stake in shares of Endava by 23.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,620 shares of the company’s stock worth $72,000 after purchasing an additional 689 shares in the last quarter. GAMMA Investing LLC grew its holdings in Endava by 81.0% during the second quarter. GAMMA Investing LLC now owns 1,683 shares of the company’s stock valued at $26,000 after purchasing an additional 753 shares during the period. Investors Research Corp increased its position in Endava by 7.4% in the second quarter. Investors Research Corp now owns 11,950 shares of the company’s stock worth $183,000 after buying an additional 825 shares in the last quarter. Strengthening Families & Communities LLC raised its stake in shares of Endava by 13.0% in the first quarter. Strengthening Families & Communities LLC now owns 9,997 shares of the company’s stock worth $209,000 after buying an additional 1,153 shares during the period. Finally, State of Wyoming raised its stake in shares of Endava by 112.7% in the first quarter. State of Wyoming now owns 2,367 shares of the company’s stock worth $46,000 after buying an additional 1,254 shares during the period. Institutional investors own 62.23% of the company’s stock.

Endava Trading Up 1.9%

Shares of NYSE DAVA opened at $6.46 on Friday. The firm’s 50 day moving average price is $8.29 and its 200-day moving average price is $11.86. Endava has a 52-week low of $6.03 and a 52-week high of $34.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.18 and a current ratio of 2.18. The company has a market cap of $363.12 million, a PE ratio of 32.30 and a beta of 1.18.

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.