Brokerages Set Endava plc (NYSE:DAVA) Price Target at $37.31

Shares of Endava plc (NYSE:DAVA) have been assigned an average rating of “Hold” from the eleven research firms that are covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $29.71.

DAVA has been the subject of a number of research reports. Guggenheim decreased their price objective on Endava from $40.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. TD Cowen downgraded shares of Endava from a “buy” rating to a “hold” rating and set a $17.00 price objective for the company. in a research note on Thursday, May 15th. Morgan Stanley increased their price target on Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.00 price objective on shares of Endava in a report on Monday. Finally, Needham & Company LLC decreased their price objective on shares of Endava from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, May 15th.

Institutional Trading of Endava

Several hedge funds have recently added to or reduced their stakes in DAVA. Assetmark Inc. increased its position in Endava by 93.1% during the 4th quarter. Assetmark Inc. now owns 985 shares of the company’s stock worth $30,000 after buying an additional 475 shares during the period. Quantbot Technologies LP bought a new position in Endava during the first quarter worth about $25,000. Quadrant Capital Group LLC raised its stake in Endava by 114.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company’s stock worth $46,000 after purchasing an additional 786 shares in the last quarter. Blue Trust Inc. boosted its holdings in Endava by 28.5% in the 4th quarter. Blue Trust Inc. now owns 1,494 shares of the company’s stock valued at $46,000 after purchasing an additional 331 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Endava by 86.4% during the 4th quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $50,000 after purchasing an additional 745 shares in the last quarter. 62.23% of the stock is owned by institutional investors and hedge funds.

Endava Trading Down 2.0%

NYSE:DAVA opened at $15.04 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90. The business’s 50-day simple moving average is $18.76 and its 200-day simple moving average is $25.60. Endava has a fifty-two week low of $14.32 and a fifty-two week high of $34.94. The stock has a market capitalization of $887.83 million, a PE ratio of 136.73, a price-to-earnings-growth ratio of 2.26 and a beta of 1.25.

Endava (NYSE:DAVA) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.18). Endava had a net margin of 0.74% and a return on equity of 0.89%. The company had revenue of $250.63 million during the quarter, compared to analyst estimates of $197.33 million. Sell-side analysts expect that Endava will post 0.57 earnings per share for the current fiscal year.

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.