Endava (NYSE:DAVA) Receives "Sell (D)" Rating from Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "Sell (D)" rating for Endava's stock, indicating ongoing concerns about its performance.
• Investment analysts have set a mixed outlook for Endava, with a majority issuing "Hold" ratings and a price target averaging around $20.78.
• Endava's stock price recently fell to $8.93, reflecting a trading volume below its average, amidst shifts in institutional investment patterns.

Endava (NYSE:DAVA - Get Free Report)'s stock had its "sell (d)" rating reiterated by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

DAVA has been the subject of a number of other reports. JPMorgan Chase & Co. lowered their price objective on Endava from $18.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, August 20th. Wall Street Zen cut Endava from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Deutsche Bank Aktiengesellschaft started coverage on Endava in a research note on Thursday, July 17th. They set a "hold" rating and a $14.00 price target for the company. Cowen reiterated a "hold" rating on shares of Endava in a research report on Friday, September 5th. Finally, Guggenheim dropped their price target on Endava from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $20.78.

Endava Trading Down 0.4%

DAVA traded down $0.04 on Wednesday, hitting $8.93. The company had a trading volume of 982,611 shares, compared to its average volume of 1,315,957. The firm has a market cap of $501.96 million, a P/E ratio of 19.84 and a beta of 1.15. Endava has a 1 year low of $8.70 and a 1 year high of $34.94. The company's fifty day moving average price is $11.29 and its 200 day moving average price is $14.70. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On Endava

Several large investors have recently added to or reduced their stakes in DAVA. GAMMA Investing LLC boosted its position in shares of Endava by 1,029.1% in the 1st quarter. GAMMA Investing LLC now owns 18,144 shares of the company's stock worth $354,000 after purchasing an additional 16,537 shares during the last quarter. Portside Wealth Group LLC lifted its stake in shares of Endava by 75.0% during the 1st quarter. Portside Wealth Group LLC now owns 22,712 shares of the company's stock worth $443,000 after buying an additional 9,736 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its stake in shares of Endava by 63.4% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 61,028 shares of the company's stock worth $1,191,000 after buying an additional 23,674 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Endava by 85.9% during the first quarter. Janney Montgomery Scott LLC now owns 47,125 shares of the company's stock worth $919,000 after acquiring an additional 21,773 shares during the period. Finally, Precision Wealth Strategies LLC raised its position in shares of Endava by 41.0% in the 1st quarter. Precision Wealth Strategies LLC now owns 12,622 shares of the company's stock valued at $246,000 after buying an additional 3,668 shares in the last quarter. Institutional investors and hedge funds own 62.23% of the company's stock.

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.

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