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

Endava (NYSE:DAVA) was downgraded by investment analysts at William Blair from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, MarketBeat reports.

A number of other research analysts also recently issued reports on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Endava in a research report on Wednesday, October 8th. Needham & Company LLC reduced their target price on Endava from $20.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, September 5th. Guggenheim cut their price target on shares of Endava from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Wall Street Zen downgraded Endava from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Morgan Stanley decreased their target price on shares of Endava from $17.00 to $11.00 and set an “equal weight” rating for the company in a research report on Friday, September 5th. Three investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.38.

Endava Price Performance

Shares of DAVA stock opened at $7.34 on Tuesday. The firm’s 50 day moving average is $9.10 and its 200-day moving average is $12.94. Endava has a 1 year low of $6.64 and a 1 year high of $34.94. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $412.30 million, a price-to-earnings ratio of 36.68 and a beta of 1.18.

Institutional Inflows and Outflows

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

About Endava

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.