Needham & Company LLC Increases Endava (NYSE:DAVA) Price Target to $53.00

Endava (NYSE:DAVA) had its price target raised by Needham & Company LLC from $50.00 to $53.00 in a note issued to investors on Tuesday, Briefing.com Automated Import reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 17.62% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Cantor Fitzgerald lifted their target price on shares of Endava from $39.00 to $46.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Zacks Investment Research raised shares of Endava from a “sell” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Tuesday, November 26th. Deutsche Bank raised their price objective on shares of Endava from $36.00 to $43.00 and gave the company a “hold” rating in a research report on Thursday, September 26th. ValuEngine downgraded shares of Endava from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Citigroup cut their target price on shares of Endava from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $44.78.

Shares of NYSE:DAVA traded down $0.82 on Tuesday, hitting $45.06. The company’s stock had a trading volume of 25,974 shares, compared to its average volume of 125,910. The company has a market capitalization of $2.53 billion, a PE ratio of 45.52, a PEG ratio of 2.63 and a beta of 0.80. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.43 and a quick ratio of 2.43. The company has a 50-day simple moving average of $42.53 and a 200 day simple moving average of $38.96. Endava has a 1 year low of $21.42 and a 1 year high of $48.00.

Endava (NYSE:DAVA) last issued its quarterly earnings data on Wednesday, September 25th. The company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.04. The company had revenue of $98.49 million during the quarter, compared to analyst estimates of $95.66 million. Endava had a return on equity of 28.69% and a net margin of 11.93%. On average, equities research analysts expect that Endava will post 0.91 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Endava by 333.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,722,012 shares of the company’s stock valued at $69,294,000 after purchasing an additional 1,324,543 shares during the last quarter. Bamco Inc. NY increased its holdings in shares of Endava by 262.1% in the second quarter. Bamco Inc. NY now owns 1,397,732 shares of the company’s stock worth $56,245,000 after buying an additional 1,011,684 shares during the period. Wasatch Advisors Inc. increased its holdings in shares of Endava by 341.8% in the second quarter. Wasatch Advisors Inc. now owns 716,326 shares of the company’s stock worth $28,825,000 after buying an additional 554,197 shares during the period. BlackRock Inc. increased its holdings in shares of Endava by 38.9% in the second quarter. BlackRock Inc. now owns 667,162 shares of the company’s stock worth $26,846,000 after buying an additional 186,862 shares during the period. Finally, Grandeur Peak Global Advisors LLC lifted its stake in shares of Endava by 119.6% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 625,911 shares of the company’s stock valued at $25,187,000 after acquiring an additional 340,825 shares during the last quarter. 27.86% of the stock is owned by institutional investors and hedge funds.

About Endava

Endava plc provides technology services for clients in the consumer products, healthcare, logistics, and retail verticals in Europe, Latin America, and the United States. It offers strategy, creative and user experience, insights through data, mobile and Internet of Things, architecture, smart automation, software engineering, test automation and engineering, continuous delivery, cloud, applications management, and smart desk services across the digital evolution, agile transformation, and automation solution areas.

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