Endava (NYSE:DAVA) Downgraded by ValuEngine

ValuEngine lowered shares of Endava (NYSE:DAVA) from a hold rating to a sell rating in a report issued on Wednesday, ValuEngine reports.

A number of other research firms have also commented on DAVA. Citigroup lowered their price target on shares of Endava from $44.00 to $42.00 and set a neutral rating on the stock in a research report on Friday, September 27th. Deutsche Bank raised their target price on shares of Endava from $36.00 to $43.00 and gave the company a hold rating in a report on Thursday, September 26th. KeyCorp began coverage on shares of Endava in a report on Thursday, June 6th. They issued a sector weight rating and a $38.26 target price on the stock. Finally, Zacks Investment Research lowered shares of Endava from a hold rating to a sell rating in a report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Endava currently has a consensus rating of Hold and a consensus target price of $38.85.

NYSE:DAVA traded up $0.29 during mid-day trading on Wednesday, reaching $37.83. 46,530 shares of the company’s stock were exchanged, compared to its average volume of 103,486. Endava has a one year low of $21.13 and a one year high of $43.93. The firm has a market capitalization of $1.99 billion, a PE ratio of 38.21, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The business’s fifty day simple moving average is $37.59 and its two-hundred day simple moving average is $35.32.

A number of hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Endava by 333.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,722,012 shares of the company’s stock valued at $69,294,000 after purchasing an additional 1,324,543 shares in the last quarter. Bamco Inc. NY boosted its stake in shares of Endava by 262.1% in the 2nd quarter. Bamco Inc. NY now owns 1,397,732 shares of the company’s stock valued at $56,245,000 after purchasing an additional 1,011,684 shares in the last quarter. Wasatch Advisors Inc. boosted its stake in shares of Endava by 341.8% in the 2nd quarter. Wasatch Advisors Inc. now owns 716,326 shares of the company’s stock valued at $28,825,000 after purchasing an additional 554,197 shares in the last quarter. Grandeur Peak Global Advisors LLC boosted its stake in shares of Endava by 119.6% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 625,911 shares of the company’s stock valued at $25,187,000 after purchasing an additional 340,825 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Endava by 38.9% in the 2nd quarter. BlackRock Inc. now owns 667,162 shares of the company’s stock valued at $26,846,000 after purchasing an additional 186,862 shares in the last quarter. 27.28% of the stock is currently owned by hedge funds and other institutional investors.

Endava Company Profile

Endava plc provides technology services for clients in the consumer products, healthcare, logistics, and retail verticals in Europe, Latin America, and the United States. It offers strategy, creative and user experience, insights through data, mobile and Internet of Things, architecture, smart automation, software engineering, test automation and engineering, continuous delivery, cloud, applications management, and smart desk services across the digital evolution, agile transformation, and automation solution areas.

Featured Story: Operating Income

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Endava Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Endava and related companies with MarketBeat.com's FREE daily email newsletter.