Endava (NYSE:DAVA) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Endava (NYSE:DAVA - Get Free Report) had its price objective increased by stock analysts at Needham & Company LLC from $18.00 to $20.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's target price would indicate a potential upside of 27.75% from the company's previous close.

DAVA has been the subject of several other research reports. TD Cowen cut shares of Endava from a "buy" rating to a "hold" rating and set a $17.00 target price for the company. in a report on Thursday, May 15th. Guggenheim cut their target price on shares of Endava from $40.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Susquehanna decreased their price target on shares of Endava from $50.00 to $42.00 and set a "positive" rating on the stock in a research note on Tuesday, May 20th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $18.00 price objective on shares of Endava in a research note on Monday, May 19th. Finally, Cowen downgraded Endava from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $26.63.

Endava Stock Down 3.8%

NYSE:DAVA traded down $0.61 during midday trading on Tuesday, reaching $15.66. The company had a trading volume of 690,632 shares, compared to its average volume of 547,446. The stock's fifty day simple moving average is $17.11 and its 200-day simple moving average is $24.17. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. Endava has a 12-month low of $14.00 and a 12-month high of $34.94. The firm has a market capitalization of $924.19 million, a price-to-earnings ratio of 142.33, a PEG ratio of 2.26 and a beta of 1.15.

Institutional Trading of Endava

Several hedge funds have recently bought and sold shares of DAVA. Kayne Anderson Rudnick Investment Management LLC boosted its position in Endava by 36.7% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,198,846 shares of the company's stock worth $120,939,000 after acquiring an additional 1,665,735 shares during the period. Alyeska Investment Group L.P. raised its stake in shares of Endava by 80.6% during 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 purchasing an additional 805,903 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Endava by 187.5% in the fourth quarter. JPMorgan Chase & Co. now owns 858,894 shares of the company's stock worth $26,540,000 after purchasing an additional 560,190 shares during the period. Fourth Sail Capital LP grew its position in Endava by 52.9% in the 1st 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 in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Endava in the 4th quarter valued at about $14,698,000. 62.23% of the stock is currently 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.