Wall Street Zen Upgrades Endava (NYSE:DAVA) to Hold

Endava (NYSE:DAVA) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Friday.

Several other equities analysts also recently weighed in on DAVA. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Endava in a research report on Wednesday, October 8th. William Blair lowered shares of Endava from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 11th. JPMorgan Chase & Co. reduced their target price on shares of Endava from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Morgan Stanley decreased their price target on shares of Endava from $11.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, November 13th. Finally, Guggenheim dropped their price target on shares of Endava from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.43.

Endava Trading Up 2.2%

Shares of NYSE DAVA opened at $6.99 on Friday. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $392.91 million, a PE ratio of 34.95 and a beta of 1.24. Endava has a twelve month low of $6.02 and a twelve month high of $34.94. The stock has a fifty day simple moving average of $6.56 and a 200-day simple moving average of $9.45.

Institutional Investors Weigh In On Endava

Large investors have recently modified their holdings of the company. Alberta Investment Management Corp grew its stake in shares of Endava by 35.6% during the second quarter. Alberta Investment Management Corp now owns 1,288,334 shares of the company’s stock worth $19,737,000 after purchasing an additional 338,334 shares in the last quarter. Prescott Group Capital Management L.L.C. lifted its holdings in Endava by 107.8% during the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 607,139 shares of the company’s stock worth $9,301,000 after buying an additional 315,000 shares during the last quarter. Paradice Investment Management LLC lifted its holdings in Endava by 19.5% during the 3rd quarter. Paradice Investment Management LLC now owns 1,871,926 shares of the company’s stock worth $17,035,000 after buying an additional 306,066 shares during the last quarter. Ensign Peak Advisors Inc boosted its position in shares of Endava by 16.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 1,271,881 shares of the company’s stock worth $19,485,000 after acquiring an additional 175,868 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Endava by 27.3% during the 2nd quarter. Acadian Asset Management LLC now owns 197,025 shares of the company’s stock worth $3,010,000 after acquiring an additional 42,306 shares in the last quarter. 62.23% of the stock is owned by hedge funds and other 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.