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

Key Points

• Endava PLC Sponsored ADR (NYSE:DAVA) has received a consensus rating of "Hold" from ten research firms, with seven recommending hold and three recommending buy.
• The average 12-month price objective among brokerages for Endava is $25.11, with target prices ranging from $17.00 to $42.00.
• Approximately 62.23% of Endava's stock is currently owned by institutional investors and hedge funds, indicating strong institutional interest in the company.

Shares of Endava PLC Sponsored ADR (NYSE:DAVA - Get Free Report) have been given an average rating of "Hold" by the ten ratings firms that are presently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $25.1111.

Several equities research analysts have commented on DAVA shares. Guggenheim restated a "buy" rating and issued a $25.00 target price on shares of Endava in a research note on Tuesday, June 10th. TD Cowen cut 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. Deutsche Bank Aktiengesellschaft began coverage on Endava in a research note on Thursday, July 17th. They set a "hold" rating and a $14.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on Endava from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 20th. Finally, Needham & Company LLC upped their price objective on Endava from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th.

Institutional Investors Weigh In On Endava

A number of large investors have recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC raised its stake in Endava by 36.7% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,198,846 shares of the company's stock valued at $120,939,000 after acquiring an additional 1,665,735 shares during the period. Invesco Ltd. grew its holdings in 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 in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Endava by 7.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,549,317 shares of the company's stock valued at $78,774,000 after buying an additional 171,048 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in Endava by 80.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,806,044 shares of the company's stock valued at $55,807,000 after buying an additional 805,903 shares in the last quarter. Finally, Paradice Investment Management LLC grew its holdings in 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 in the last quarter. Institutional investors own 62.23% of the company's stock.

Endava Stock Up 3.8%

Shares of DAVA traded up $0.52 on Friday, hitting $14.14. The company's stock had a trading volume of 140,382 shares, compared to its average volume of 683,700. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. The firm's fifty day moving average price is $13.82 and its 200-day moving average price is $17.96. Endava has a fifty-two week low of $11.63 and a fifty-two week high of $34.94. The firm has a market capitalization of $834.63 million, a price-to-earnings ratio of 37.17 and a beta of 1.12.

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.