Endava (NYSE:DAVA) Price Target Cut to $45.00

Endava (NYSE:DAVA) had its target price reduced by equities researchers at Guggenheim from $55.00 to $45.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s target price would indicate a potential upside of 52.85% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. Wedbush lowered their price objective on Endava from $65.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Needham & Company LLC dropped their price target on shares of Endava from $50.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, May 24th. JPMorgan Chase & Co. increased their price objective on shares of Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. TD Cowen dropped their target price on shares of Endava from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Finally, Redburn Atlantic assumed coverage on shares of Endava in a research note on Friday, May 24th. They issued a “neutral” rating and a $33.10 target price on the stock. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Endava has an average rating of “Moderate Buy” and a consensus price target of $46.01.

Endava Price Performance

NYSE:DAVA opened at $29.44 on Monday. Endava has a 1-year low of $24.51 and a 1-year high of $81.06. The stock has a market cap of $1.70 billion, a P/E ratio of 32.71 and a beta of 1.22. The firm has a 50-day moving average of $30.71 and a two-hundred day moving average of $31.11.

Hedge Funds Weigh In On Endava

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital International Investors grew its position in shares of Endava by 3.2% during the fourth quarter. Capital International Investors now owns 2,115,202 shares of the company’s stock worth $164,668,000 after acquiring an additional 65,794 shares during the last quarter. CDAM UK Ltd grew its position in Endava by 1.8% in the 4th quarter. CDAM UK Ltd now owns 1,451,449 shares of the company’s stock worth $112,995,000 after purchasing an additional 25,570 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of Endava by 2.0% in the first quarter. Wasatch Advisors LP now owns 1,262,478 shares of the company’s stock valued at $48,025,000 after purchasing an additional 24,699 shares during the period. Capital World Investors raised its holdings in shares of Endava by 39.3% during the fourth quarter. Capital World Investors now owns 987,200 shares of the company’s stock valued at $76,854,000 after buying an additional 278,300 shares during the last quarter. Finally, Fourth Sail Capital LP acquired a new position in shares of Endava during the first quarter worth approximately $27,622,000. 62.23% of the stock is currently 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.