Endava (NYSE:DAVA) Sees Strong Trading Volume

Shares of Endava plc (NYSE:DAVA) saw an uptick in trading volume on Thursday . 394,536 shares changed hands during trading, a decline of 25% from the previous session’s volume of 522,741 shares.The stock last traded at $27.00 and had previously closed at $28.91.

Analyst Ratings Changes

Several equities analysts have issued reports on DAVA shares. TD Cowen cut their price objective on Endava from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Redburn Atlantic assumed coverage on shares of Endava in a research report on Friday, May 24th. They set a “neutral” rating and a $33.10 price target on the stock. Guggenheim lowered their price objective on shares of Endava from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Needham & Company LLC decreased their price target on shares of Endava from $42.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. raised their price target on shares of Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $42.31.

Endava Stock Performance

The firm’s 50-day simple moving average is $30.58 and its 200 day simple moving average is $30.99. The company has a market cap of $1.54 billion, a P/E ratio of 29.62 and a beta of 1.22.

Hedge Funds Weigh In On Endava

Several hedge funds have recently added to or reduced their stakes in DAVA. BNP Paribas Financial Markets grew its holdings in Endava by 13.3% during the fourth quarter. BNP Paribas Financial Markets now owns 8,778 shares of the company’s stock valued at $683,000 after purchasing an additional 1,033 shares during the period. Principal Financial Group Inc. acquired a new stake in Endava during the 4th quarter worth $5,551,000. Janney Montgomery Scott LLC grew its stake in Endava by 62.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,929 shares of the company’s stock valued at $618,000 after acquiring an additional 3,050 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Endava by 34.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,424 shares of the company’s stock worth $111,000 after acquiring an additional 368 shares in the last quarter. Finally, Brown Advisory Inc. bought a new position in shares of Endava during the 4th quarter valued at about $274,000. Institutional investors and hedge funds 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.