Endava (NYSE:DAVA) Price Target Cut to $40.00 by Analysts at Guggenheim

Endava (NYSE:DAVA) had its target price reduced by Guggenheim from $45.00 to $40.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

DAVA has been the subject of several other reports. Needham & Company LLC lowered their price target on Endava from $42.00 to $33.00 and set a “buy” rating for the company in a report on Friday, September 20th. Susquehanna dropped their target price on shares of Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a report on Friday, September 20th. JPMorgan Chase & Co. increased their price objective on shares of Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Citigroup cut their price objective on shares of Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.21.

Endava Trading Up 3.4 %

Shares of NYSE:DAVA traded up $0.83 during midday trading on Wednesday, hitting $25.32. The company had a trading volume of 378,361 shares, compared to its average volume of 528,013. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.23. Endava has a 12 month low of $23.28 and a 12 month high of $81.06. The firm has a fifty day simple moving average of $27.11 and a 200 day simple moving average of $28.60. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 70.69 and a beta of 1.21.

Endava (NYSE:DAVA) last announced its quarterly earnings results on Thursday, September 19th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.13). Endava had a net margin of 2.30% and a return on equity of 2.75%. The company had revenue of $245.30 million during the quarter, compared to the consensus estimate of $248.65 million. On average, analysts predict that Endava will post 0.77 EPS for the current year.

Institutional Investors Weigh In On Endava

A number of institutional investors and hedge funds have recently made changes to their positions in DAVA. Paradice Investment Management LLC acquired a new stake in Endava in the second quarter valued at $18,695,000. Millennium Management LLC grew its holdings in Endava by 64.5% during the second quarter. Millennium Management LLC now owns 571,021 shares of the company’s stock worth $16,697,000 after purchasing an additional 223,964 shares during the period. Silvercrest Asset Management Group LLC increased its position in Endava by 9.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 311,992 shares of the company’s stock worth $11,868,000 after buying an additional 27,797 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its stake in Endava by 27.9% in the third quarter. Kornitzer Capital Management Inc. KS now owns 279,565 shares of the company’s stock valued at $7,140,000 after buying an additional 60,941 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc lifted its position in shares of Endava by 8.7% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 245,772 shares of the company’s stock valued at $6,279,000 after buying an additional 19,669 shares during the last quarter. Institutional investors own 62.23% of the company’s stock.

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.