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

Endava (NYSE:DAVA) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other research analysts have also recently weighed in on the stock. Zacks Research upgraded shares of Endava from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. JPMorgan Chase & Co. decreased their price target on shares of Endava from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Needham & Company LLC cut their price objective on Endava from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Cowen reiterated a “hold” rating on shares of Endava in a research note on Friday, September 5th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Endava in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.00.

Endava Stock Performance

NYSE DAVA opened at $6.54 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.18 and a quick ratio of 2.18. The company has a market cap of $367.78 million, a P/E ratio of 32.72 and a beta of 1.18. The stock has a 50-day moving average of $8.96 and a two-hundred day moving average of $12.74. Endava has a 1-year low of $6.52 and a 1-year high of $34.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DAVA. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Endava during the 3rd quarter worth about $99,000. Sei Investments Co. increased its stake in Endava by 16.0% in the third quarter. Sei Investments Co. now owns 312,847 shares of the company’s stock valued at $2,847,000 after purchasing an additional 43,122 shares during the last quarter. UBS Group AG raised its holdings in Endava by 128.4% during the third quarter. UBS Group AG now owns 756,082 shares of the company’s stock worth $6,880,000 after purchasing an additional 425,106 shares in the last quarter. Barometer Capital Management Inc. lifted its position in shares of Endava by 77.0% during the 3rd quarter. Barometer Capital Management Inc. now owns 20,000 shares of the company’s stock worth $182,000 after buying an additional 8,700 shares during the last quarter. Finally, Barclays PLC acquired a new position in shares of Endava in the 3rd quarter valued at $2,356,000. 62.23% of the stock is owned by institutional investors and hedge funds.

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.