Endava (NYSE:DAVA) PT Lowered to $43.00 at JPMorgan Chase & Co.

Endava (NYSE:DAVA) had its price objective trimmed by JPMorgan Chase & Co. from $49.00 to $43.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

DAVA has been the topic of a number of other reports. TD Cowen cut their price objective on Endava from $85.00 to $52.00 and set an outperform rating on the stock in a research note on Friday, March 1st. Citigroup reduced their price objective on shares of Endava from $40.00 to $33.00 and set a neutral rating for the company in a research note on Monday, April 22nd. HSBC upgraded shares of Endava from a hold rating to a buy rating and set a $45.00 target price on the stock in a research note on Wednesday. Needham & Company LLC dropped their target price on shares of Endava from $70.00 to $50.00 and set a buy rating on the stock in a report on Friday, March 1st. Finally, Guggenheim assumed coverage on shares of Endava in a report on Tuesday, March 19th. They set a buy rating and a $60.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $51.00.

Endava Price Performance

DAVA traded down $0.25 during trading on Thursday, reaching $30.90. 319,727 shares of the stock traded hands, compared to its average volume of 629,079. Endava has a fifty-two week low of $28.99 and a fifty-two week high of $81.06. The stock’s 50-day simple moving average is $36.25 and its two-hundred day simple moving average is $56.42. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 21.31 and a beta of 1.14.

Endava (NYSE:DAVA) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $227.96 million during the quarter, compared to the consensus estimate of $231.07 million. Endava had a net margin of 8.88% and a return on equity of 11.77%. Research analysts anticipate that Endava will post 0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Endava

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Endava in the 3rd quarter valued at $58,433,000. Fourth Sail Capital LP bought a new stake in Endava in the first quarter valued at about $27,622,000. Invesco Ltd. raised its position in Endava by 156.5% in the third quarter. Invesco Ltd. now owns 866,076 shares of the company’s stock worth $49,669,000 after purchasing an additional 528,384 shares in the last quarter. Capital World Investors lifted its stake in Endava by 39.3% during the fourth quarter. Capital World Investors now owns 987,200 shares of the company’s stock worth $76,854,000 after purchasing an additional 278,300 shares during the period. Finally, FMR LLC boosted its holdings in Endava by 16.5% during the third quarter. FMR LLC now owns 1,807,318 shares of the company’s stock valued at $103,650,000 after purchasing an additional 256,250 shares in the last quarter. 62.23% of the stock is currently owned by institutional investors.

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.