Endava PLC Sponsored ADR (NYSE:DAVA) Receives Average Recommendation of "Reduce" from Brokerages

Key Points

• Endava has a consensus “Reduce” rating from nine brokerages: three sell ratings, five holds and one buy. The average 12-month price target is $5.36.
• Recent analyst actions were mixed but largely cautious, including William Blair’s downgrade to “underperform” and Deutsche Bank’s price-target cut to $2.00 while maintaining a “hold” rating.
• Shares opened at $1.81, near their 52-week low of $1.68, while institutional investors and hedge funds collectively own 62.23% of the company.

Endava PLC Sponsored ADR (NYSE:DAVA - Get Free Report) has been assigned a consensus rating of "Reduce" from the nine brokerages that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $5.36.

A number of equities research analysts have recently weighed in on the company. William Blair downgraded Endava from a "market perform" rating to an "underperform" rating in a report on Tuesday. Weiss Ratings restated a "sell (e+)" rating on shares of Endava in a research note on Tuesday, September 8th. TD Cowen reaffirmed a "hold" rating and issued a $3.50 price objective on shares of Endava in a report on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Endava from $3.00 to $2.00 and set a "hold" rating for the company in a report on Tuesday. Finally, Zacks Research raised shares of Endava from a "strong sell" rating to a "hold" rating in a report on Monday, July 20th.

Endava Trading Up 6.8%

Shares of NYSE DAVA opened at $1.81 on Friday. The stock's 50 day moving average price is $2.91 and its two-hundred day moving average price is $3.45. Endava has a 52-week low of $1.68 and a 52-week high of $9.88. The stock has a market capitalization of $102.02 million, a P/E ratio of -0.17 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.

Institutional Investors Weigh In On Endava

Institutional investors and hedge funds have recently bought and sold shares of the business. Savant Capital LLC bought a new position in Endava in the fourth quarter worth about $76,000. Alpine Global Management LLC acquired a new stake in shares of Endava during the 4th quarter worth approximately $87,000. SmartHarvest Portfolios LLC acquired a new stake in shares of Endava during the 1st quarter worth approximately $84,000. Barometer Capital Management Inc. lifted its holdings in shares of Endava by 32.5% in the 1st 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 last quarter. Finally, CDAM UK Ltd boosted its position in Endava by 28.2% during the 4th quarter. CDAM UK Ltd now owns 2,979,658 shares of the company's stock valued at $18,831,000 after purchasing an additional 655,078 shares during the period. Institutional investors and hedge funds own 62.23% of the company's stock.

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.

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