Endava (NYSE:DAVA) Given New $10.00 Price Target at JPMorgan Chase & Co.

Endava (NYSE:DAVA) had its price target decreased by investment analysts at JPMorgan Chase & Co. from $13.00 to $10.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 40.45% from the stock’s current price.

DAVA has been the subject of several other research reports. William Blair downgraded shares of Endava from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Needham & Company LLC lowered their target price on Endava from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on Endava in a research report on Thursday, July 17th. They issued a “hold” rating and a $14.00 price target for the company. Weiss Ratings restated a “sell (d)” rating on shares of Endava in a report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Endava from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Endava currently has an average rating of “Hold” and an average price target of $18.38.

Endava Price Performance

Shares of DAVA stock traded up $0.17 during midday trading on Wednesday, reaching $7.12. 826,728 shares of the company traded hands, compared to its average volume of 857,679. The firm’s 50 day simple moving average is $9.24 and its two-hundred day simple moving average is $12.98. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.32 and a quick ratio of 2.32. Endava has a 1-year low of $6.64 and a 1-year high of $34.94. The firm has a market cap of $400.22 million, a PE ratio of 15.90 and a beta of 1.18.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its position in shares of Endava by 100.7% during the first quarter. Envestnet Asset Management Inc. now owns 251,407 shares of the company’s stock worth $4,905,000 after purchasing an additional 126,158 shares in the last quarter. Royce & Associates LP increased its position in shares of Endava by 25.7% in the first quarter. Royce & Associates LP now owns 365,516 shares of the company’s stock valued at $7,131,000 after acquiring an additional 74,670 shares during the last quarter. Norden Group LLC boosted its position in Endava by 56.4% during the first quarter. Norden Group LLC now owns 24,714 shares of the company’s stock valued at $482,000 after purchasing an additional 8,916 shares during the last quarter. Ruffer LLP boosted its holdings in shares of Endava by 414.7% in the 1st quarter. Ruffer LLP now owns 130,317 shares of the company’s stock valued at $2,542,000 after buying an additional 105,000 shares during the last quarter. Finally, Fourth Sail Capital LP grew its position in shares of 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 acquiring an additional 486,604 shares during the period. 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.