Guggenheim Cuts Endava (NYSE:DAVA) Price Target to $13.00

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

Several other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Endava from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. Wall Street Zen raised shares of Endava from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Needham & Company LLC reduced their target price on shares of Endava from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. William Blair lowered shares of Endava from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 11th. Finally, Zacks Research upgraded shares of Endava from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.14.

Endava Stock Performance

Endava stock opened at $5.12 on Friday. The company’s 50-day moving average price is $6.42 and its 200-day moving average price is $8.54. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.34. The company has a market cap of $287.51 million, a PE ratio of 25.58 and a beta of 1.26. Endava has a twelve month low of $4.84 and a twelve month high of $34.73.

Institutional Investors Weigh In On Endava

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of Endava by 733.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,909 shares of the company’s stock worth $29,000 after buying an additional 1,680 shares during the period. Advisory Services Network LLC bought a new stake in shares of Endava in the third quarter valued at about $28,000. Quadrant Capital Group LLC lifted its stake in Endava by 901.8% in the fourth quarter. Quadrant Capital Group LLC now owns 6,101 shares of the company’s stock worth $39,000 after acquiring an additional 5,492 shares during the period. Perennial Advisors LLC bought a new position in Endava during the 4th quarter worth about $63,000. Finally, Vident Advisory LLC purchased a new position in Endava during the 2nd quarter valued at about $160,000. Institutional investors own 62.23% of the company’s stock.

About Endava

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.