Guggenheim Cuts Endava (NYSE:DAVA) Price Target to $20.00

Key Points

• Guggenheim has reduced its price target for Endava (NYSE:DAVA) from $25.00 to $20.00 while maintaining a "buy" rating, suggesting a potential upside of 37.54% from the previous close.
• Institutional investors are actively adjusting their positions in Endava, with notable increases in shareholdings from firms like EverSource Wealth Advisors LLC and State of Wyoming.
• Currently, the average rating for Endava stock sits at "Hold" from analysts, with a consensus target price of $24.56 amidst mixed ratings from various brokerages.

Endava (NYSE:DAVA - Get Free Report) had its price objective reduced by Guggenheim from $25.00 to $20.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Guggenheim's price target would suggest a potential upside of 37.54% from the company's previous close.

DAVA has been the subject of a number of other reports. Needham & Company LLC lifted their price objective on Endava from $18.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Susquehanna cut their price target on Endava from $50.00 to $42.00 and set a "positive" rating for the company in a report on Tuesday, May 20th. Wall Street Zen cut Endava from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. TD Cowen cut Endava from a "buy" rating to a "hold" rating and set a $17.00 price target for the company. in a report on Thursday, May 15th. Finally, Cowen cut Endava from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $24.56.

Endava Stock Up 0.9%

Shares of DAVA stock opened at $14.54 on Thursday. The stock has a market cap of $858.36 million, a P/E ratio of 38.41 and a beta of 1.12. The stock has a fifty day moving average price of $13.82 and a 200 day moving average price of $17.93. Endava has a one year low of $11.63 and a one year high of $34.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 2.18.

Hedge Funds Weigh In On Endava

Several institutional investors have recently modified their holdings of DAVA. Quantbot Technologies LP bought a new position in shares of Endava during the 1st quarter valued at about $25,000. GAMMA Investing LLC lifted its holdings in shares of Endava by 81.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,683 shares of the company's stock valued at $26,000 after purchasing an additional 753 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Endava by 733.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,909 shares of the company's stock valued at $29,000 after purchasing an additional 1,680 shares in the last quarter. State of Wyoming lifted its stake in Endava by 112.7% in the 1st quarter. State of Wyoming now owns 2,367 shares of the company's stock valued at $46,000 after acquiring an additional 1,254 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Endava by 23.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,620 shares of the company's stock valued at $72,000 after acquiring an additional 689 shares in the last quarter. 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.

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