Endava (NYSE:DAVA) Sees Unusually-High Trading Volume - Time to Buy?

Endava plc (NYSE:DAVA - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 1,698,507 shares changed hands during mid-day trading, an increase of 219% from the previous session's volume of 532,593 shares.The stock last traded at $15.32 and had previously closed at $14.79.

Analyst Ratings Changes

Several research analysts recently weighed in on DAVA shares. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $18.00 price objective on shares of Endava in a research report on Monday, May 19th. TD Cowen lowered Endava from a "buy" rating to a "hold" rating and set a $17.00 price objective for the company. in a research report on Thursday, May 15th. Guggenheim lowered their price objective on Endava from $40.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Cowen lowered Endava from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Susquehanna lowered their price objective on Endava from $50.00 to $42.00 and set a "positive" rating for the company in a research report on Tuesday, May 20th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $26.75.

Endava Stock Performance

The firm has a 50-day moving average price of $17.68 and a 200 day moving average price of $24.98. The firm has a market capitalization of $910.85 million, a PE ratio of 140.27, a price-to-earnings-growth ratio of 2.26 and a beta of 1.25. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21.

Institutional Investors Weigh In On Endava

Hedge funds have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. acquired a new stake in Endava in the 4th quarter valued at about $215,000. Natixis Advisors LLC raised its position in Endava by 44.8% in the 4th quarter. Natixis Advisors LLC now owns 45,340 shares of the company's stock valued at $1,401,000 after purchasing an additional 14,023 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Endava by 13.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 204,300 shares of the company's stock valued at $6,313,000 after purchasing an additional 25,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Endava by 35.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,289 shares of the company's stock valued at $843,000 after purchasing an additional 7,124 shares in the last quarter. Finally, Sei Investments Co. raised its position in Endava by 26.1% in the 4th quarter. Sei Investments Co. now owns 118,095 shares of the company's stock valued at $3,649,000 after purchasing an additional 24,426 shares in the last quarter. Institutional investors and hedge funds own 62.23% of the company's stock.

Endava Company Profile

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.