Endava PLC Sponsored ADR (NYSE:DAVA) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analysts give Endava a consensus "Hold" rating (1 sell, 5 hold, 4 buy) with an average 12-month price target of about $14.14.
• The stock is trading near $4.21 with a market cap of ~$236.8M, a negative P/E, and a 52-week range of $4.11–$21.81, indicating it is priced well below analyst targets and recent historical highs.
• Institutional investors hold about 62.2% of the shares, with notable recent activity including a new ~$24.6M position by T. Rowe Price and sizable increases by Paradice and other funds.

Endava PLC Sponsored ADR (NYSE:DAVA - Get Free Report) has earned a consensus rating of "Hold" from the ten analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $14.1429.

Several brokerages have commented on DAVA. Wall Street Zen raised Endava from a "sell" rating to a "hold" rating in a research note on Sunday, February 8th. Weiss Ratings reissued a "sell (d)" rating on shares of Endava in a research note on Tuesday, April 7th. Needham & Company LLC lowered their target price on Endava from $9.00 to $7.00 and set a "buy" rating for the company in a research note on Thursday, February 19th. Guggenheim lowered their target price on Endava from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Friday, February 13th. Finally, JPMorgan Chase & Co. lowered their target price on Endava from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Friday, February 20th.

Endava Stock Down 0.7%

DAVA stock opened at $4.21 on Wednesday. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.36. The company has a market cap of $236.76 million, a PE ratio of -38.29 and a beta of 1.26. Endava has a 52 week low of $4.11 and a 52 week high of $21.81. The business has a 50-day simple moving average of $4.68 and a 200 day simple moving average of $6.17.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DAVA. T. Rowe Price Investment Management Inc. acquired a new position in Endava during the fourth quarter worth about $24,563,000. Paradice Investment Management LLC grew its holdings in shares of Endava by 61.9% during the fourth quarter. Paradice Investment Management LLC now owns 3,029,847 shares of the company's stock worth $19,149,000 after purchasing an additional 1,157,921 shares during the last quarter. Invenomic Capital Management LP bought a new stake in shares of Endava during the fourth quarter worth about $4,691,000. CDAM UK Ltd grew its holdings in shares of Endava by 28.2% during the fourth quarter. CDAM UK Ltd now owns 2,979,658 shares of the company's stock worth $18,831,000 after purchasing an additional 655,078 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. grew its holdings in shares of Endava by 100.3% during the third quarter. Prescott Group Capital Management L.L.C. now owns 1,216,354 shares of the company's stock worth $11,069,000 after purchasing an additional 609,215 shares during the last quarter. Institutional investors and hedge funds own 62.23% of the company's stock.

Endava Company Profile

Endava PLC is a publicly traded technology services company specializing in digital transformation and agile software development. The firm helps enterprise clients design, build and manage custom software solutions across industries such as financial services, payments, retail, telecommunications and media. Its service offerings span end-to-end product design, customer experience, application development, quality engineering, DevOps, automation and artificial intelligence, all delivered through agile methodologies.

Founded in 2000, Endava has grown from a small software provider into a global IT partner.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.