Guggenheim Cuts Endava (NYSE:DAVA) Price Target to $18.00

Endava (NYSE:DAVA) had its price objective cut by Guggenheim from $20.00 to $18.00 in a report published on Friday morning, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC lowered their price target on Endava from $20.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday. Cowen lowered Endava from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Susquehanna dropped their target price on Endava from $50.00 to $42.00 and set a “positive” rating for the company in a research report on Tuesday, May 20th. JPMorgan Chase & Co. reduced their price target on shares of Endava from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Endava in a research note on Thursday, July 17th. They set a “hold” rating and a $14.00 price target on the stock. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Endava currently has a consensus rating of “Hold” and a consensus price target of $20.78.

Endava Stock Performance

Endava stock opened at $10.14 on Friday. Endava has a fifty-two week low of $9.84 and a fifty-two week high of $34.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 2.32. The stock has a market cap of $598.27 million, a P/E ratio of 22.52 and a beta of 1.13. The firm’s fifty day moving average price is $13.64 and its 200-day moving average price is $16.77.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DAVA. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Endava by 36.7% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,198,846 shares of the company’s stock worth $120,939,000 after buying an additional 1,665,735 shares during the period. Invesco Ltd. grew its holdings in Endava by 6.4% in the 2nd quarter. Invesco Ltd. now owns 3,661,123 shares of the company’s stock worth $56,088,000 after acquiring an additional 220,465 shares during the last quarter. Paradice Investment Management LLC increased its position in shares of Endava by 29.2% in the second quarter. Paradice Investment Management LLC now owns 1,565,860 shares of the company’s stock valued at $23,989,000 after acquiring an additional 353,587 shares during the period. Fourth Sail Capital LP raised its stake in shares of Endava by 52.9% during the first quarter. Fourth Sail Capital LP now owns 1,406,223 shares of the company’s stock valued at $27,435,000 after acquiring an additional 486,604 shares during the last quarter. Finally, Alberta Investment Management Corp boosted 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 worth $19,737,000 after purchasing an additional 338,334 shares during the period. 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.