Endava (NYSE:DAVA) Shares Gap Down to $51.00

Endava plc (NYSE:DAVA)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $51.00, but opened at $47.47. Endava shares last traded at $52.18, with a volume of 294,975 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley increased their target price on shares of Endava from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, September 14th. Susquehanna cut their target price on Endava from $104.00 to $100.00 in a research report on Monday, June 12th. Deutsche Bank Aktiengesellschaft decreased their price target on Endava from $78.00 to $53.00 in a research note on Wednesday, May 24th. Finally, HSBC started coverage on Endava in a research note on Monday, July 17th. They set a “buy” rating and a $74.00 price objective for the company. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $86.00.

Endava Price Performance

The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 26.13 and a beta of 1.16. The stock has a 50 day moving average price of $51.18 and a two-hundred day moving average price of $55.18.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in shares of Endava by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,588,111 shares of the company’s stock worth $576,950,000 after acquiring an additional 333,749 shares during the last quarter. Grandeur Peak Global Advisors LLC grew its position in shares of Endava by 11.8% during the 1st quarter. Grandeur Peak Global Advisors LLC now owns 2,887,730 shares of the company’s stock worth $193,998,000 after buying an additional 304,646 shares during the period. FMR LLC raised its stake in shares of Endava by 188.3% during the first quarter. FMR LLC now owns 1,560,795 shares of the company’s stock worth $104,854,000 after buying an additional 1,019,337 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Endava by 1.7% in the second quarter. Wasatch Advisors LP now owns 1,349,044 shares of the company’s stock valued at $69,867,000 after buying an additional 22,651 shares during the period. Finally, DF Dent & Co. Inc. boosted its stake in Endava by 70.9% in the first quarter. DF Dent & Co. Inc. now owns 1,250,822 shares of the company’s stock valued at $84,030,000 after acquiring an additional 519,047 shares during the last quarter. Institutional investors own 56.10% of the company’s stock.

About Endava

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.