Endava (NYSE:DAVA) Cut to Market Perform at William Blair

William Blair downgraded shares of Endava (NYSE:DAVA) from an outperform rating to a market perform rating in a report published on Tuesday morning, Marketbeat.com reports.

Other equities research analysts have also recently issued research reports about the company. Cowen reissued a “hold” rating on shares of Endava in a research note on Friday, September 5th. Zacks Research upgraded Endava from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Weiss Ratings restated a “sell (d)” rating on shares of Endava in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price objective on shares of Endava from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, August 20th. Finally, Needham & Company LLC reduced their price objective on shares of Endava from $20.00 to $12.00 and set a “buy” rating for the company in a report on Friday, September 5th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Endava has an average rating of “Hold” and a consensus price target of $18.00.

Endava Price Performance

DAVA stock opened at $6.89 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.32 and a quick ratio of 2.32. The company’s 50-day moving average is $9.03 and its 200-day moving average is $12.90. The stock has a market capitalization of $387.34 million, a PE ratio of 34.46 and a beta of 1.18. Endava has a 1 year low of $6.64 and a 1 year high of $34.94.

Hedge Funds Weigh In On Endava

A number of hedge funds have recently bought and sold shares of DAVA. Prescott Group Capital Management L.L.C. increased its stake in Endava by 107.8% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 607,139 shares of the company’s stock valued at $9,301,000 after buying an additional 315,000 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Endava by 182.3% in the 1st quarter. M&T Bank Corp now owns 39,499 shares of the company’s stock worth $770,000 after buying an additional 25,506 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Endava in the first quarter valued at approximately $764,000. Ruffer LLP increased its position in shares of Endava by 60.5% during the second quarter. Ruffer LLP now owns 209,187 shares of the company’s stock valued at $3,205,000 after acquiring an additional 78,870 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Endava by 15.4% during the first quarter. Raymond James Financial Inc. now owns 548,963 shares of the company’s stock valued at $10,710,000 after acquiring an additional 73,300 shares during the last quarter. 62.23% of the stock is owned by hedge funds and other institutional investors.

Endava Company Profile

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.