Endava (NYSE:DAVA) Given "Buy" Rating at Guggenheim

Endava (NYSE:DAVA - Get Free Report)'s stock had its "buy" rating restated by analysts at Guggenheim in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $25.00 price objective on the stock. Guggenheim's price target would indicate a potential upside of 59.68% from the company's previous close.

A number of other equities research analysts have also recently issued reports on DAVA. Cowen cut shares of Endava from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $18.00 target price on shares of Endava in a research report on Monday, May 19th. Needham & Company LLC upped their price objective on shares of Endava from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday. TD Cowen cut shares of Endava from a "buy" rating to a "hold" rating and set a $17.00 price objective for the company. in a research report on Thursday, May 15th. Finally, Susquehanna cut their price objective on shares of Endava from $50.00 to $42.00 and set a "positive" rating for the company in a research report on Tuesday, May 20th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Endava has a consensus rating of "Hold" and a consensus price target of $26.63.

Endava Stock Performance

Shares of Endava stock traded down $0.61 during trading on Tuesday, reaching $15.66. The company's stock had a trading volume of 690,632 shares, compared to its average volume of 547,446. The business's 50-day moving average price is $17.11 and its 200-day moving average price is $24.17. The firm has a market cap of $924.19 million, a PE ratio of 142.33, a P/E/G ratio of 2.26 and a beta of 1.15. Endava has a 52 week low of $14.00 and a 52 week high of $34.94. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21.

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 valued at $120,939,000 after buying an additional 1,665,735 shares during the period. Alyeska Investment Group L.P. increased its stake in shares of Endava by 80.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,806,044 shares of the company's stock valued at $55,807,000 after buying an additional 805,903 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Endava by 187.5% in the fourth quarter. JPMorgan Chase & Co. now owns 858,894 shares of the company's stock valued at $26,540,000 after buying an additional 560,190 shares during the period. Fourth Sail Capital LP increased its stake in shares of Endava by 52.9% in the first quarter. Fourth Sail Capital LP now owns 1,406,223 shares of the company's stock valued at $27,435,000 after buying an additional 486,604 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Endava in the fourth quarter valued at approximately $14,698,000. Institutional investors and hedge funds own 62.23% of the company's stock.

Endava Company Profile

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.