Endava (NYSE:DAVA) Trading 6.1% Higher

Endava plc (NYSE:DAVA)’s share price was up 6.1% during mid-day trading on Wednesday . The stock traded as high as $32.80 and last traded at $32.66. Approximately 144,729 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 514,864 shares. The stock had previously closed at $30.78.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DAVA shares. TD Cowen decreased their target price on shares of Endava from $46.00 to $42.00 and set a “buy” rating for the company in a report on Friday, May 24th. Needham & Company LLC reduced 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. Guggenheim decreased their price objective on shares of Endava from $60.00 to $55.00 and set a “buy” rating for the company in a report on Friday, May 24th. JPMorgan Chase & Co. lifted their target price 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, Wedbush decreased their target price on shares of Endava from $65.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Endava presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.01.

Endava Price Performance

The business has a 50-day simple moving average of $30.45 and a 200 day simple moving average of $31.87. The firm has a market cap of $1.86 billion, a PE ratio of 36.11 and a beta of 1.22.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DAVA. Assetmark Inc. lifted its position in shares of Endava by 47.8% in the fourth quarter. Assetmark Inc. now owns 510 shares of the company’s stock valued at $40,000 after acquiring an additional 165 shares in the last quarter. Principal Securities Inc. bought a new position in Endava in the 4th quarter worth approximately $99,000. Headlands Technologies LLC purchased a new stake in Endava during the 1st quarter valued at approximately $49,000. Quadrant Capital Group LLC raised its position in shares of Endava by 34.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,424 shares of the company’s stock valued at $111,000 after buying an additional 368 shares during the last quarter. Finally, Truist Financial Corp purchased a new position in shares of Endava in the fourth quarter worth $207,000. 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.