Endava (NYSE:DAVA) Given New $13.00 Price Target at Guggenheim

Endava (NYSE:DAVA) had its price objective reduced by Guggenheim from $15.00 to $13.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

DAVA has been the subject of several other reports. Zacks Research raised Endava from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Morgan Stanley lowered their price target on Endava from $11.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday, November 13th. William Blair cut Endava from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 11th. Needham & Company LLC lowered their target price on shares of Endava from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Endava from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.14.

Endava Trading Up 2.1%

NYSE DAVA opened at $5.12 on Friday. The company’s fifty day moving average price is $6.42 and its two-hundred day moving average price is $8.62. The company has a market capitalization of $287.51 million, a price-to-earnings ratio of 25.58 and a beta of 1.26. Endava has a 12 month low of $4.84 and a 12 month high of $34.73. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.18 and a quick ratio of 2.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Alberta Investment Management Corp raised its holdings in shares of Endava by 35.6% during the second quarter. Alberta Investment Management Corp now owns 1,288,334 shares of the company’s stock valued at $19,737,000 after buying an additional 338,334 shares during the last quarter. Prescott Group Capital Management L.L.C. increased its position in Endava by 107.8% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 607,139 shares of the company’s stock valued at $9,301,000 after acquiring an additional 315,000 shares during the period. Paradice Investment Management LLC raised its stake in Endava by 19.5% during the 3rd quarter. Paradice Investment Management LLC now owns 1,871,926 shares of the company’s stock valued at $17,035,000 after acquiring an additional 306,066 shares in the last quarter. Ensign Peak Advisors Inc boosted its position in Endava by 16.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 1,271,881 shares of the company’s stock worth $19,485,000 after acquiring an additional 175,868 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Endava by 17.3% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 454,536 shares of the company’s stock worth $6,963,000 after purchasing an additional 66,979 shares in the last quarter. 62.23% of the stock is owned by institutional investors and hedge funds.

Endava Company Profile

Endava PLC is a publicly traded technology services company specializing in digital transformation and agile software development. The firm helps enterprise clients design, build and manage custom software solutions across industries such as financial services, payments, retail, telecommunications and media. Its service offerings span end-to-end product design, customer experience, application development, quality engineering, DevOps, automation and artificial intelligence, all delivered through agile methodologies.

Founded in 2000, Endava has grown from a small software provider into a global IT partner.