Endava (NYSE:DAVA) PT Lowered to $33.00 at Needham & Company LLC

Endava (NYSE:DAVA) had its target price lowered by Needham & Company LLC from $42.00 to $33.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently issued reports on the company. Redburn Atlantic initiated coverage on Endava in a research note on Friday, May 24th. They issued a neutral rating and a $33.10 target price on the stock. Wedbush decreased their price objective on shares of Endava from $65.00 to $50.00 and set an outperform rating for the company in a report on Thursday, May 23rd. TD Cowen reduced their price target on shares of Endava from $46.00 to $42.00 and set a buy rating on the stock in a research report on Friday, May 24th. JPMorgan Chase & Co. lifted their price target on Endava from $41.00 to $47.00 and gave the company an overweight rating in a research report on Friday, September 6th. Finally, Guggenheim dropped their price objective on shares of Endava from $55.00 to $45.00 and set a buy rating on the stock in a research note on Monday, September 16th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Endava has a consensus rating of Moderate Buy and a consensus target price of $42.31.

Endava Stock Down 0.4 %

NYSE:DAVA opened at $26.51 on Friday. The firm has a market capitalization of $1.53 billion, a P/E ratio of 29.46 and a beta of 1.22. The company has a fifty day moving average of $30.47 and a 200 day moving average of $30.84. Endava has a 52 week low of $24.51 and a 52 week high of $81.06.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capital International Investors lifted its stake in Endava by 3.2% during the 4th quarter. Capital International Investors now owns 2,115,202 shares of the company’s stock valued at $164,668,000 after acquiring an additional 65,794 shares during the period. CDAM UK Ltd boosted its holdings in Endava by 1.8% in the fourth quarter. CDAM UK Ltd now owns 1,451,449 shares of the company’s stock worth $112,995,000 after purchasing an additional 25,570 shares during the last quarter. Wasatch Advisors LP grew its position in Endava by 2.0% in the 1st quarter. Wasatch Advisors LP now owns 1,262,478 shares of the company’s stock worth $48,025,000 after purchasing an additional 24,699 shares during the period. Capital World Investors raised its stake in Endava by 39.3% during the 4th quarter. Capital World Investors now owns 987,200 shares of the company’s stock valued at $76,854,000 after buying an additional 278,300 shares during the last quarter. Finally, Fourth Sail Capital LP bought a new position in shares of Endava during the 1st quarter valued at $27,622,000. 62.23% of the stock is owned by institutional investors.

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.