Endava (NYSE:DAVA – Get Free Report) had its price target lowered by research analysts at Needham & Company LLC from $7.00 to $5.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 50.88% from the stock’s previous close.
A number of other analysts have also issued reports on the company. Guggenheim dropped their target price on Endava from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Wall Street Zen upgraded Endava from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Endava in a research note on Tuesday, April 7th. TD Cowen decreased their price target on Endava from $6.50 to $6.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Finally, JPMorgan Chase & Co. decreased their price target on Endava from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.17.
Check Out Our Latest Stock Analysis on Endava
Endava Stock Down 17.2%
Hedge Funds Weigh In On Endava
Hedge funds have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. acquired a new position in Endava in the fourth quarter valued at approximately $24,563,000. Paradice Investment Management LLC boosted its stake in Endava by 61.9% in the fourth quarter. Paradice Investment Management LLC now owns 3,029,847 shares of the company’s stock valued at $19,149,000 after acquiring an additional 1,157,921 shares during the period. Invenomic Capital Management LP acquired a new position in Endava in the fourth quarter valued at approximately $4,691,000. CDAM UK Ltd boosted its stake in Endava by 28.2% in the fourth quarter. CDAM UK Ltd now owns 2,979,658 shares of the company’s stock valued at $18,831,000 after acquiring an additional 655,078 shares during the period. Finally, Prescott Group Capital Management L.L.C. boosted its stake in Endava by 100.3% in the third quarter. Prescott Group Capital Management L.L.C. now owns 1,216,354 shares of the company’s stock valued at $11,069,000 after acquiring an additional 609,215 shares during the period. 62.23% of the stock is currently owned by institutional investors and hedge funds.
Endava Company Profile
Endava PLC is a publicly traded technology services company specializing in digital transformation and agile software development. The firm helps enterprise clients design, build and manage custom software solutions across industries such as financial services, payments, retail, telecommunications and media. Its service offerings span end-to-end product design, customer experience, application development, quality engineering, DevOps, automation and artificial intelligence, all delivered through agile methodologies.
Founded in 2000, Endava has grown from a small software provider into a global IT partner.
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