Endava (NYSE:DAVA) Sees Strong Trading Volume

Shares of Endava plc (NYSE:DAVAGet Free Report) saw unusually-high trading volume on Tuesday . Approximately 580,058 shares traded hands during trading, an increase of 9% from the previous session’s volume of 534,477 shares.The stock last traded at $36.92 and had previously closed at $37.68.

Wall Street Analysts Forecast Growth

DAVA has been the topic of several research analyst reports. Morgan Stanley cut shares of Endava from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $68.00 to $80.00 in a research note on Wednesday, January 24th. Guggenheim initiated coverage on shares of Endava in a research note on Tuesday, March 19th. They set a “buy” rating and a $60.00 target price on the stock. HSBC cut shares of Endava from a “buy” rating to a “hold” rating and upped their target price for the company from $68.00 to $80.00 in a research note on Monday, January 8th. JPMorgan Chase & Co. upgraded shares of Endava from a “neutral” rating to an “overweight” rating and set a $49.00 price objective on the stock in a research note on Tuesday, March 19th. Finally, Needham & Company LLC lowered their price objective on shares of Endava from $70.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.78.

View Our Latest Stock Report on Endava

Endava Stock Performance

The business’s fifty day simple moving average is $54.87 and its 200-day simple moving average is $60.72. The firm has a market capitalization of $2.13 billion, a PE ratio of 25.98 and a beta of 1.10.

Endava (NYSE:DAVAGet Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Endava had a net margin of 8.88% and a return on equity of 11.77%. The company had revenue of $227.96 million for the quarter, compared to analysts’ expectations of $231.07 million. Sell-side analysts expect that Endava plc will post 0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Pinebridge Investments L.P. purchased a new position in Endava during the second quarter worth $36,000. Tower Research Capital LLC TRC lifted its position in shares of Endava by 433.3% during the third quarter. Tower Research Capital LLC TRC now owns 480 shares of the company’s stock worth $39,000 after purchasing an additional 390 shares during the last quarter. Assetmark Inc. lifted its position in shares of Endava by 47.8% during the fourth quarter. Assetmark Inc. now owns 510 shares of the company’s stock worth $40,000 after purchasing an additional 165 shares during the last quarter. Signaturefd LLC lifted its position in shares of Endava by 194.9% during the third quarter. Signaturefd LLC now owns 1,153 shares of the company’s stock worth $66,000 after purchasing an additional 762 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its position in shares of Endava by 41.8% during the third quarter. Global Retirement Partners LLC now owns 1,234 shares of the company’s stock worth $69,000 after purchasing an additional 364 shares during the last quarter. 62.23% of the stock is owned by hedge funds and other institutional investors.

Endava Company Profile

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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.

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