Endava (NYSE:DAVA) Given New $17.00 Price Target at JPMorgan Chase & Co.

Endava (NYSE:DAVA) had its price objective cut by JPMorgan Chase & Co. from $18.00 to $17.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also recently issued reports about the company. Cowen cut Endava from a “buy” rating to a “hold” rating in a report on Wednesday, May 14th. Guggenheim reiterated a “buy” rating and issued a $25.00 price objective on shares of Endava in a report on Tuesday, June 10th. Wall Street Zen cut Endava from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. TD Cowen cut Endava from a “buy” rating to a “hold” rating and set a $17.00 price objective on the stock. in a report on Thursday, May 15th. Finally, Susquehanna decreased their price objective on Endava from $50.00 to $42.00 and set a “positive” rating on the stock in a report on Tuesday, May 20th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Endava has a consensus rating of “Hold” and an average target price of $25.11.

Endava Trading Down 1.1%

Shares of Endava stock opened at $12.6650 on Wednesday. The stock has a market cap of $747.61 million, a P/E ratio of 33.33 and a beta of 1.12. The stock’s 50 day simple moving average is $13.99 and its 200-day simple moving average is $18.59. Endava has a 1-year low of $11.63 and a 1-year high of $34.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 2.18.

Institutional Trading of Endava

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vident Advisory LLC purchased a new stake in Endava in the second quarter valued at approximately $160,000. Sompo Asset Management Co. Ltd. raised its position in Endava by 54.2% in the second quarter. Sompo Asset Management Co. Ltd. now owns 20,780 shares of the company’s stock valued at $318,000 after purchasing an additional 7,300 shares during the period. Benjamin Edwards Inc. purchased a new stake in Endava in the second quarter valued at approximately $198,000. Sei Investments Co. raised its position in Endava by 128.3% in the second quarter. Sei Investments Co. now owns 269,725 shares of the company’s stock valued at $4,132,000 after purchasing an additional 151,600 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in Endava by 14.7% in the second quarter. Daiwa Securities Group Inc. now owns 105,048 shares of the company’s stock valued at $1,609,000 after purchasing an additional 13,490 shares during the period. Hedge funds and other institutional investors own 62.23% of the company’s stock.

About Endava

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.