Endava (NYSE:DAVA) Sees Large Volume Increase - Still a Buy?

Endava plc (NYSE:DAVA - Get Free Report) shares saw strong trading volume on Thursday . 1,698,507 shares traded 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Cowen cut Endava from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Susquehanna cut their price target on Endava from $50.00 to $42.00 and set a "positive" rating on the stock in a report on Tuesday, May 20th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $18.00 price objective on shares of Endava in a research note on Monday, May 19th. Needham & Company LLC dropped their target price on shares of Endava from $22.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. Finally, TD Cowen lowered shares of Endava from a "buy" rating to a "hold" rating and set a $17.00 target price on the stock. in a research note on Thursday, May 15th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $26.75.

Endava Price Performance

The firm has a market cap of $888.00 million, a P/E ratio of 136.75, a P/E/G ratio of 2.26 and a beta of 1.25. The company has a fifty day moving average of $17.68 and a 200-day moving average of $24.93. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90.

Institutional Trading of Endava

A number of hedge funds have recently bought and sold shares of DAVA. Assetmark Inc. increased its position in shares of Endava by 93.1% during the 4th quarter. Assetmark Inc. now owns 985 shares of the company's stock valued at $30,000 after purchasing an additional 475 shares during the last quarter. Quantbot Technologies LP bought a new position in Endava during the first quarter valued at about $25,000. Quadrant Capital Group LLC increased its holdings in Endava by 114.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company's stock worth $46,000 after buying an additional 786 shares during the last quarter. Blue Trust Inc. raised its position in Endava by 28.5% in the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the company's stock worth $46,000 after acquiring an additional 331 shares during the period. Finally, State of Wyoming boosted its stake in Endava by 112.7% in the first quarter. State of Wyoming now owns 2,367 shares of the company's stock valued at $46,000 after acquiring an additional 1,254 shares during the last quarter. 62.23% of the stock is currently owned by institutional investors.

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.