Endava (NYSE:DAVA) Reaches New 1-Year Low – Here’s Why

Endava plc (NYSE:DAVA) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $23.00 and last traded at $23.40, with a volume of 252043 shares changing hands. The stock had previously closed at $23.20.

Analyst Ratings Changes

DAVA has been the topic of a number of recent research reports. Susquehanna cut their target price on shares of Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a research note on Friday, February 21st. Needham & Company LLC dropped their price objective on shares of Endava from $43.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Morgan Stanley raised their price objective on shares of Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Guggenheim lowered their target price on shares of Endava from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, TD Cowen raised their price target on Endava from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.10.

Endava Trading Up 0.9 %

The business has a 50-day moving average of $30.78 and a 200-day moving average of $29.04. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 212.73, a PEG ratio of 2.26 and a beta of 1.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.90 and a current ratio of 1.90.

Endava (NYSE:DAVA) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.18). The firm had revenue of $250.63 million during the quarter, compared to analyst estimates of $197.33 million. Endava had a net margin of 0.74% and a return on equity of 0.89%. As a group, research analysts forecast that Endava plc will post 0.57 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DAVA. Blue Trust Inc. grew its holdings in shares of Endava by 28.5% during the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the company’s stock worth $46,000 after buying an additional 331 shares during the last quarter. Precision Wealth Strategies LLC grew its stake in shares of Endava by 4.5% in the 4th quarter. Precision Wealth Strategies LLC now owns 8,954 shares of the company’s stock valued at $277,000 after purchasing an additional 383 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Endava by 93.1% in the fourth quarter. Assetmark Inc. now owns 985 shares of the company’s stock valued at $30,000 after purchasing an additional 475 shares during the period. GAMMA Investing LLC raised its stake in shares of Endava by 86.4% during the fourth quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $50,000 after purchasing an additional 745 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Endava by 114.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company’s stock worth $46,000 after purchasing an additional 786 shares during the period. 62.23% of the stock is currently owned by institutional investors and hedge funds.

Endava Company Profile

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.