Endava (NYSE:DAVA) Price Target Lowered to $40.00 at Guggenheim

Endava (NYSE:DAVA) had its price objective decreased by Guggenheim from $45.00 to $40.00 in a research note published on Wednesday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. Citigroup decreased their price objective on Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, October 28th. Susquehanna lowered their price objective on Endava from $66.00 to $55.00 and set a “positive” rating for the company in a research report on Friday, September 20th. JPMorgan Chase & Co. boosted 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, Needham & Company LLC cut their price objective on Endava from $42.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $41.21.

Endava Trading Up 1.6 %

DAVA opened at $26.37 on Wednesday. Endava has a one year low of $23.28 and a one year high of $81.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 73.28 and a beta of 1.21. The stock’s 50 day moving average price is $26.87 and its 200-day moving average price is $28.56.

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

Institutional Investors Weigh In On Endava

Institutional investors have recently modified their holdings of the business. Mawer Investment Management Ltd. lifted its stake in Endava by 613.0% in the 3rd quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company’s stock valued at $30,610,000 after buying an additional 1,030,403 shares in the last quarter. Paradice Investment Management LLC purchased a new position in Endava during the second quarter worth about $18,695,000. Fourth Sail Capital LP boosted its position in shares of Endava by 36.2% during the 3rd quarter. Fourth Sail Capital LP now owns 931,151 shares of the company’s stock worth $23,782,000 after purchasing an additional 247,418 shares during the period. Millennium Management LLC grew its stake in shares of Endava by 64.5% in the second quarter. Millennium Management LLC now owns 571,021 shares of the company’s stock valued at $16,697,000 after buying an additional 223,964 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in Endava by 15,560.6% in the 1st quarter. Lazard Asset Management LLC now owns 171,170 shares of the company’s stock valued at $6,511,000 after acquiring an additional 170,077 shares in the last quarter. 62.23% of the stock is currently owned by institutional investors and hedge funds.

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.