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

Endava (NYSE:DAVA) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $49.00 to $43.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 35.86% from the stock’s current price.

DAVA has been the subject of a number of other reports. HSBC raised shares of Endava from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Wednesday. TD Cowen reduced their price target on shares of Endava from $85.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. Citigroup reduced their price target on shares of Endava from $40.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, April 22nd. Morgan Stanley reissued an “equal weight” rating and issued a $40.00 price target on shares of Endava in a research report on Monday, April 22nd. Finally, Needham & Company LLC reduced their target price on shares of Endava from $70.00 to $50.00 and set a “buy” rating for the company in a report on Friday, March 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

Endava Trading Up 1.3 %

Shares of DAVA stock traded up $0.40 on Thursday, reaching $31.65. 142,002 shares of the stock were exchanged, compared to its average volume of 569,207. The business’s 50 day moving average price is $37.67 and its 200 day moving average price is $56.81. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 21.84 and a beta of 1.14. Endava has a twelve month low of $28.99 and a twelve month high of $81.06.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Capital International Investors raised its holdings in Endava by 3.2% during the fourth quarter. Capital International Investors now owns 2,115,202 shares of the company’s stock worth $164,668,000 after purchasing an additional 65,794 shares in the last quarter. FMR LLC raised its holdings in Endava by 16.5% during the third quarter. FMR LLC now owns 1,807,318 shares of the company’s stock worth $103,650,000 after purchasing an additional 256,250 shares in the last quarter. CDAM UK Ltd raised its holdings in Endava by 1.8% during 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 in the last quarter. Wasatch Advisors LP raised its holdings in Endava by 2.0% during the first 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 in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new position in Endava during the third quarter worth about $58,433,000. 62.23% of the stock is owned by hedge funds and other 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.