Endava PLC Sponsored ADR (NYSE:DAVA) Receives Average Rating of "Hold" from Analysts

Key Points

• Endava PLC (NYSE:DAVA) has received an average rating of "Hold" from eleven analysts, with one sell recommendation, seven holds, and three buys.
• The average 12-month price target for the stock is $20.78, significantly lower than prior estimates following recent downgrades from Morgan Stanley and others.
• Endava's shares have seen significant institutional interest, with 62.23% of the stock currently owned by institutional investors and hedge funds.

Shares of Endava PLC Sponsored ADR (NYSE:DAVA - Get Free Report) have been given an average recommendation of "Hold" by the eleven ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $20.7778.

DAVA has been the subject of a number of recent research reports. Morgan Stanley decreased their price objective on Endava from $17.00 to $11.00 and set an "equal weight" rating for the company in a report on Friday, September 5th. Guggenheim decreased their price target on Endava from $20.00 to $18.00 and set a "buy" rating for the company in a report on Friday, September 5th. Wall Street Zen downgraded Endava from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Weiss Ratings reiterated a "sell (d)" rating on shares of Endava in a report on Wednesday. Finally, Needham & Company LLC decreased their price target on Endava from $20.00 to $12.00 and set a "buy" rating for the company in a report on Friday, September 5th.

Endava Stock Performance

NYSE DAVA opened at $8.32 on Friday. The company has a market capitalization of $467.84 million, a price-to-earnings ratio of 18.50 and a beta of 1.15. Endava has a twelve month low of $8.29 and a twelve month high of $34.94. The stock has a fifty day simple moving average of $11.14 and a 200 day simple moving average of $14.53. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.31.

Institutional Trading of Endava

A number of large investors have recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Endava by 36.7% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,198,846 shares of the company's stock worth $120,939,000 after acquiring an additional 1,665,735 shares during the period. Invesco Ltd. grew its stake in shares of Endava by 6.4% in the 2nd quarter. Invesco Ltd. now owns 3,661,123 shares of the company's stock valued at $56,088,000 after buying an additional 220,465 shares during the period. Paradice Investment Management LLC grew its stake in shares of Endava by 29.2% in the 2nd quarter. Paradice Investment Management LLC now owns 1,565,860 shares of the company's stock valued at $23,989,000 after buying an additional 353,587 shares during the period. Fourth Sail Capital LP grew its stake in shares of Endava by 52.9% in the 1st quarter. Fourth Sail Capital LP now owns 1,406,223 shares of the company's stock valued at $27,435,000 after buying an additional 486,604 shares during the period. Finally, Alberta Investment Management Corp grew its stake in shares of Endava by 35.6% in the 2nd quarter. Alberta Investment Management Corp now owns 1,288,334 shares of the company's stock valued at $19,737,000 after buying an additional 338,334 shares during the period. 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.

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