Endava (NYSE:DAVA) Rating Lowered to Hold at Wall Street Zen

Key Points

• Endava has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, signaling a shift in analyst sentiment regarding the stock.
• Despite the downgrade, Guggenheim maintains a "buy" rating with a price target of $25.00, while TD Cowen has set a lower target of $17.00 with a "hold" rating.
• Institutional investors currently hold 62.23% of Endava's stock, indicating substantial support from large financial entities.

Wall Street Zen downgraded shares of Endava (NYSE:DAVA - Free Report) from a buy rating to a hold rating in a research note released on Saturday.

DAVA has been the topic of several other reports. Susquehanna decreased their price target on shares of Endava from $50.00 to $42.00 and set a "positive" rating on the stock in a report on Tuesday, May 20th. Needham & Company LLC lifted their price target on shares of Endava from $18.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $18.00 price target on shares of Endava in a report on Monday, May 19th. Cowen lowered shares of Endava from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, TD Cowen lowered shares of Endava from a "buy" rating to a "hold" rating and set a $17.00 price target on the stock. in a report on Thursday, May 15th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Endava has an average rating of "Hold" and an average price target of $25.11.

Endava Price Performance

Shares of Endava stock traded down $0.1350 during midday trading on Friday, hitting $12.6650. 717,297 shares of the company traded hands, compared to its average volume of 728,219. The stock has a market cap of $747.61 million, a price-to-earnings ratio of 33.33 and a beta of 1.12. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.18 and a current ratio of 2.18. The firm's fifty day moving average price is $13.99 and its 200-day moving average price is $18.59. Endava has a 12 month low of $11.63 and a 12 month high of $34.94.

Institutional Investors Weigh In On Endava

Hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new stake in Endava during the 1st quarter worth approximately $25,000. GAMMA Investing LLC lifted its position in shares of Endava by 81.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,683 shares of the company's stock worth $26,000 after purchasing an additional 753 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Endava by 733.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,909 shares of the company's stock worth $29,000 after purchasing an additional 1,680 shares during the period. State of Wyoming lifted its position in shares of Endava by 112.7% in the 1st quarter. State of Wyoming now owns 2,367 shares of the company's stock worth $46,000 after purchasing an additional 1,254 shares during the period. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Endava in the 4th quarter worth approximately $100,000. 62.23% of the stock is currently owned by institutional investors and hedge funds.

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.