Endava PLC Sponsored ADR (NYSE:DAVA) Given Average Recommendation of “Reduce” by Brokerages

Endava PLC Sponsored ADR (NYSE:DAVA) has been given a consensus rating of “Reduce” by the eight brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $5.50.

Several equities analysts have issued reports on the company. Morgan Stanley dropped their target price on Endava from $8.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft set a $3.00 price target on Endava in a research note on Friday, July 10th. Needham & Company LLC dropped their price objective on Endava from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. TD Cowen cut their price objective on Endava from $4.00 to $3.50 and set a “hold” rating for the company in a research report on Thursday, July 9th. Finally, Zacks Research raised Endava from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th.

Endava Trading Up 3.1%

NYSE DAVA opened at $3.31 on Tuesday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $186.06 million, a P/E ratio of -0.31 and a beta of 1.02. Endava has a 52-week low of $2.55 and a 52-week high of $14.99. The firm has a 50-day moving average price of $2.95 and a 200 day moving average price of $3.74.

Institutional Trading of Endava

Institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its position in Endava by 16.1% during the first quarter. Jane Street Group LLC now owns 10,682 shares of the company’s stock worth $208,000 after buying an additional 1,482 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Endava by 733.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,909 shares of the company’s stock worth $29,000 after acquiring an additional 1,680 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Endava by 22.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,411 shares of the company’s stock worth $85,000 after acquiring an additional 2,493 shares during the period. Advisory Services Network LLC purchased a new position in Endava in the 3rd quarter valued at approximately $28,000. Finally, State Street Corp raised its holdings in Endava by 3.4% during the fourth quarter. State Street Corp now owns 98,936 shares of the company’s stock worth $625,000 after purchasing an additional 3,218 shares during the last quarter. Hedge funds and other institutional investors 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.