Morgan Stanley Raises Endava (NYSE:DAVA) Price Target to $35.00

Endava (NYSE:DAVA) had its target price lifted by Morgan Stanley from $33.00 to $35.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 7.76% from the stock’s current price.

Other research analysts also recently issued reports about the stock. TD Cowen increased their price target on shares of Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Needham & Company LLC raised their price objective on Endava from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Citigroup lowered their price target on Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, October 28th. Bank of America began coverage on shares of Endava in a report on Friday, November 22nd. They set a “neutral” rating and a $29.00 price objective for the company. Finally, Guggenheim lowered their target price on shares of Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.01.

Endava Stock Performance

Shares of DAVA opened at $32.48 on Friday. The firm has a market capitalization of $1.92 billion, a P/E ratio of 232.01, a PEG ratio of 2.32 and a beta of 1.22. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90. The business has a fifty day moving average of $30.61 and a 200 day moving average of $29.12. Endava has a one year low of $23.28 and a one year high of $73.27.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in shares of Endava by 28.5% during the 4th quarter. Blue Trust Inc. now owns 1,494 shares of the company’s stock worth $46,000 after purchasing an additional 331 shares during the period. Alliance Wealth Advisors LLC UT purchased a new stake in Endava in the 4th quarter worth about $222,000. Precision Wealth Strategies LLC boosted its position in shares of Endava by 4.5% during the fourth quarter. Precision Wealth Strategies LLC now owns 8,954 shares of the company’s stock valued at $277,000 after buying an additional 383 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Endava by 13.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 204,300 shares of the company’s stock valued at $6,313,000 after buying an additional 25,000 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc raised its holdings in shares of Endava by 35.3% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 332,642 shares of the company’s stock worth $10,282,000 after buying an additional 86,870 shares during the period. 62.23% of the stock is owned by hedge funds and other institutional investors.

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.