Endava plc (NYSE:DAVA – Get Rating) traded down 5.5% during trading on Tuesday after Citigroup lowered their price target on the stock from $110.00 to $105.00. Citigroup currently has a buy rating on the stock. Endava traded as low as $72.72 and last traded at $73.66. 1,604 shares were traded during trading, a decline of 100% from the average session volume of 326,829 shares. The stock had previously closed at $77.92.
A number of other brokerages have also recently commented on DAVA. Morgan Stanley reduced their price objective on Endava from $130.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, September 28th. Deutsche Bank Aktiengesellschaft reduced their price objective on Endava from $94.00 to $78.00 in a research note on Wednesday, September 28th. Wedbush reduced their price objective on Endava from $120.00 to $90.00 and set an “outperform” rating for the company in a research note on Wednesday, September 28th. KeyCorp began coverage on Endava in a research note on Monday, September 12th. They issued a “sector weight” rating for the company. Finally, Susquehanna raised their price objective on Endava from $110.00 to $120.00 in a research note on Wednesday, November 16th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $106.44.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the stock. FourThought Financial LLC boosted its position in shares of Endava by 119.0% during the third quarter. FourThought Financial LLC now owns 7,099 shares of the company’s stock valued at $572,000 after buying an additional 3,858 shares during the last quarter. Grandeur Peak Global Advisors LLC boosted its position in shares of Endava by 9.8% during the third quarter. Grandeur Peak Global Advisors LLC now owns 1,967,903 shares of the company’s stock valued at $158,672,000 after buying an additional 175,041 shares during the last quarter. Balyasny Asset Management LLC bought a new stake in Endava during the third quarter worth $644,000. Baird Financial Group Inc. lifted its holdings in Endava by 2.0% during the third quarter. Baird Financial Group Inc. now owns 21,966 shares of the company’s stock worth $1,771,000 after acquiring an additional 433 shares during the period. Finally, CreativeOne Wealth LLC lifted its holdings in Endava by 20.2% during the third quarter. CreativeOne Wealth LLC now owns 5,440 shares of the company’s stock worth $439,000 after acquiring an additional 916 shares during the period. Hedge funds and other institutional investors own 52.49% of the company’s stock.
Endava Price Performance
Endava (NYSE:DAVA – Get Rating) last issued its quarterly earnings results on Tuesday, September 27th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.19. The business had revenue of $226.82 million for the quarter, compared to analyst estimates of $219.99 million. Endava had a return on equity of 22.06% and a net margin of 13.26%. Equities analysts forecast that Endava plc will post 2.12 EPS for the current fiscal year.
Endava plc provides technology services for clients in the consumer products, healthcare, mobility, and retail verticals in Europe, Latin America, North America, and internationally. It offers technology and digital advisory services for payments and financial services, and TMT sectors; IT strategies; business analysis services; program management services; digital product strategy services; and architecture, extended reality, machine learning and artificial intelligence, product design, and user experience and visual design services.
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