Endava (NYSE:DAVA) Stock Rating Upgraded by Wall Street Zen

Endava (NYSE:DAVA) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Friday.

A number of other research firms also recently issued reports on DAVA. Morgan Stanley decreased their price objective on Endava from $11.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday, November 13th. JPMorgan Chase & Co. reduced their price target on Endava from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Guggenheim decreased their price target on shares of Endava from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Endava in a research report on Wednesday, October 8th. Finally, Needham & Company LLC reduced their target price on shares of Endava from $12.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.43.

Endava Stock Up 2.2%

DAVA stock traded up $0.15 during trading hours on Friday, reaching $6.99. 408,663 shares of the stock were exchanged, compared to its average volume of 481,813. The firm’s 50-day moving average is $6.56 and its 200-day moving average is $9.48. Endava has a 12 month low of $6.02 and a 12 month high of $34.94. The company has a market cap of $392.91 million, a price-to-earnings ratio of 34.95 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.18 and a quick ratio of 2.18.

Institutional Investors Weigh In On Endava

Several large investors have recently made changes to their positions in DAVA. Invesco Ltd. increased its holdings in Endava by 6.4% during the second quarter. Invesco Ltd. now owns 3,661,123 shares of the company’s stock worth $56,088,000 after buying an additional 220,465 shares during the last quarter. Paradice Investment Management LLC grew its holdings in Endava by 19.5% during the third quarter. Paradice Investment Management LLC now owns 1,871,926 shares of the company’s stock worth $17,035,000 after purchasing an additional 306,066 shares during the period. Alberta Investment Management Corp increased its holdings in shares of Endava by 35.6% during the 2nd quarter. Alberta Investment Management Corp now owns 1,288,334 shares of the company’s stock worth $19,737,000 after acquiring an additional 338,334 shares during the last quarter. Ensign Peak Advisors Inc lifted its holdings in Endava by 16.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 1,271,881 shares of the company’s stock valued at $19,485,000 after purchasing an additional 175,868 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. lifted its holdings in Endava by 100.3% during the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 1,216,354 shares of the company’s stock valued at $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.

About Endava

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.