Endava PLC Sponsored ADR (NYSE:DAVA) Stock Has Consensus Price Target of $5.42

Key Points

• Analyst sentiment is cautious: Eight brokerages have an average “Reduce” recommendation, with three sells and five holds; the average 12-month price target is $5.42.
• Endava shares fell 3.6% to $1.47, near their 52-week low of $1.46. Deutsche Bank cut its price target to $2, while TD Cowen maintained a $3.50 target.
• Institutional ownership stands at 62.23%, and several investors increased their holdings in the third quarter, including Marshall Wace and Prescott Group.

Shares of Endava PLC Sponsored ADR (NYSE:DAVA - Get Free Report) have been given an average recommendation of "Reduce" by the eight brokerages that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $5.42.

Several analysts have issued reports on DAVA shares. Zacks Research raised shares of Endava from a "strong sell" rating to a "hold" rating in a research report on Monday, July 20th. William Blair cut shares of Endava from a "market perform" rating to an "underperform" rating in a research report on Tuesday, September 22nd. TD Cowen reissued a "hold" rating and set a $3.50 target price on shares of Endava in a research report on Tuesday, September 22nd. Weiss Ratings restated a "sell (e+)" rating on shares of Endava in a research note on Tuesday, September 8th. Finally, Deutsche Bank lowered their price target on shares of Endava from $3.00 to $2.00 and set a "hold" rating for the company in a report on Tuesday, September 22nd.

Endava Trading Down 3.6%

Shares of NYSE DAVA traded down $0.06 on Friday, reaching $1.47. 433,496 shares of the company traded hands, compared to its average volume of 263,542. Endava has a fifty-two week low of $1.46 and a fifty-two week high of $7.18. The company has a 50 day moving average of $2.08 and a 200 day moving average of $3.42. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $82.35 million, a PE ratio of -0.14 and a beta of 1.07.

Institutional Trading of Endava

Hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP grew its stake in Endava by 137.9% during the 3rd quarter. Marshall Wace LLP now owns 737,983 shares of the company's stock worth $1,321,000 after buying an additional 427,802 shares during the last quarter. Headlands Technologies LLC bought a new stake in Endava in the third quarter valued at $37,000. StoneX Group Inc. acquired a new position in shares of Endava during the third quarter valued at $40,000. Prescott Group Capital Management L.L.C. boosted its holdings in shares of Endava by 19.0% during the third quarter. Prescott Group Capital Management L.L.C. now owns 3,807,848 shares of the company's stock valued at $6,816,000 after acquiring an additional 606,927 shares during the period. Finally, Barometer Capital Management Inc. grew its position in shares of Endava by 32.5% during the first quarter. Barometer Capital Management Inc. now owns 106,300 shares of the company's stock worth $470,000 after acquiring an additional 26,080 shares during the last quarter. 62.23% of the stock is owned by institutional investors.

About Endava

Endava plc is a technology services company that helps organizations design, develop and manage digital products and systems. Its services include technology consulting, software and product engineering, cloud services, data and analytics, and intelligent automation. The company works with clients across industries such as financial services, payments, technology, media and telecommunications, consumer products, healthcare, and mobility. Its teams serve clients in the Americas, Europe and Asia-Pacific.

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