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

Endava (NYSE:DAVA) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Other research analysts have also issued research reports about the stock. Guggenheim dropped their price objective on shares of Endava from $18.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Endava in a report on Wednesday, October 8th. Morgan Stanley reduced their price objective on shares of Endava from $11.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 13th. William Blair lowered Endava from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 11th. Finally, Needham & Company LLC reduced their price target on Endava from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $16.43.

Endava Price Performance

DAVA stock opened at $6.31 on Friday. The stock has a market cap of $354.69 million, a price-to-earnings ratio of 31.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.18 and a quick ratio of 2.18. The company has a 50 day simple moving average of $6.60 and a 200 day simple moving average of $9.22. Endava has a 1 year low of $6.02 and a 1 year high of $34.94.

Hedge Funds Weigh In On Endava

Large investors have recently modified their holdings of the company. Invesco Ltd. raised its holdings in Endava by 6.4% during the second quarter. Invesco Ltd. now owns 3,661,123 shares of the company’s stock worth $56,088,000 after buying an additional 220,465 shares during the last quarter. Paradice Investment Management LLC increased its position in shares of Endava by 61.9% during the fourth quarter. Paradice Investment Management LLC now owns 3,029,847 shares of the company’s stock worth $19,149,000 after acquiring an additional 1,157,921 shares in the last quarter. Alberta Investment Management Corp raised its holdings in shares of Endava by 35.6% in the 2nd quarter. Alberta Investment Management Corp now owns 1,288,334 shares of the company’s stock worth $19,737,000 after acquiring an additional 338,334 shares during the last quarter. Ensign Peak Advisors Inc lifted its position in Endava by 16.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 1,271,881 shares of the company’s stock valued at $19,485,000 after acquiring an additional 175,868 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. lifted its position in 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 acquiring an additional 609,215 shares in the last quarter. 62.23% of the stock is currently owned by institutional investors.

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.