Endava (NYSE:DAVA) Given New $9.00 Price Target at Needham & Company LLC

Endava (NYSE:DAVA) had its price objective trimmed by Needham & Company LLC from $12.00 to $9.00 in a research report released on Wednesday morning, MarketBeat.com reports. The firm currently has a buy rating on the stock.

Several other analysts have also commented on DAVA. Cowen reissued a “hold” rating on shares of Endava in a report on Friday, September 5th. JPMorgan Chase & Co. cut their price target on shares of Endava from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, August 20th. Zacks Research upgraded shares of Endava from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th. William Blair downgraded shares of Endava from an “outperform” rating to a “market perform” rating in a report on Tuesday. Finally, Morgan Stanley cut 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 note on Friday, September 5th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Endava currently has an average rating of “Hold” and a consensus price target of $18.00.

Endava Price Performance

Shares of NYSE:DAVA traded down $0.45 during trading on Wednesday, reaching $6.89. 1,740,286 shares of the company’s stock traded hands, compared to its average volume of 866,354. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.31. Endava has a fifty-two week low of $6.64 and a fifty-two week high of $34.94. The company has a 50-day simple moving average of $9.10 and a 200-day simple moving average of $12.94. The firm has a market cap of $387.34 million, a PE ratio of 34.46 and a beta of 1.18.

Institutional Trading of Endava

Large investors have recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Endava by 36.7% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,198,846 shares of the company’s stock valued at $120,939,000 after acquiring an additional 1,665,735 shares during the last quarter. Invesco Ltd. grew its position in shares of Endava by 6.4% in the second quarter. Invesco Ltd. now owns 3,661,123 shares of the company’s stock valued at $56,088,000 after purchasing an additional 220,465 shares in the last quarter. Paradice Investment Management LLC increased its holdings in shares of Endava by 19.5% in the third quarter. Paradice Investment Management LLC now owns 1,871,926 shares of the company’s stock valued at $17,035,000 after purchasing an additional 306,066 shares during the last quarter. Fourth Sail Capital LP lifted its position in Endava by 52.9% during the first quarter. Fourth Sail Capital LP now owns 1,406,223 shares of the company’s stock worth $27,435,000 after buying an additional 486,604 shares in the last quarter. Finally, Alberta Investment Management Corp boosted its stake in Endava by 35.6% during the second quarter. Alberta Investment Management Corp now owns 1,288,334 shares of the company’s stock worth $19,737,000 after buying an additional 338,334 shares during the last quarter. Hedge funds and other institutional investors own 62.23% of the company’s stock.

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.