Endava (NYSE:DAVA) Sets New 1-Year Low – Here’s What Happened

Shares of Endava plc (NYSE:DAVA) hit a new 52-week low during trading on Monday . The stock traded as low as $16.60 and last traded at $16.70, with a volume of 58115 shares. The stock had previously closed at $17.10.

Analyst Ratings Changes

A number of research analysts have weighed in on DAVA shares. Morgan Stanley lifted their price target on shares of Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Susquehanna cut their price objective on shares of Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a research report on Friday, February 21st. Finally, Needham & Company LLC lowered their target price on Endava from $43.00 to $38.00 and set a “buy” rating for the company in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.10.

Endava Stock Performance

The stock has a market cap of $1.01 billion, a P/E ratio of 155.36, a price-to-earnings-growth ratio of 2.26 and a beta of 1.33. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. The stock has a 50 day simple moving average of $21.74 and a 200 day simple moving average of $26.57.

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

Hedge Funds Weigh In On Endava

Institutional investors have recently added to or reduced their stakes in the business. Precision Wealth Strategies LLC increased its stake in shares of Endava by 41.0% in the 1st quarter. Precision Wealth Strategies LLC now owns 12,622 shares of the company’s stock valued at $246,000 after acquiring an additional 3,668 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Endava by 85.9% in the first quarter. Janney Montgomery Scott LLC now owns 47,125 shares of the company’s stock valued at $919,000 after purchasing an additional 21,773 shares in the last quarter. Azzad Asset Management Inc. ADV increased its stake in Endava by 63.4% in the first quarter. Azzad Asset Management Inc. ADV now owns 61,028 shares of the company’s stock valued at $1,191,000 after purchasing an additional 23,674 shares in the last quarter. Portside Wealth Group LLC raised its holdings in shares of Endava by 75.0% during the first quarter. Portside Wealth Group LLC now owns 22,712 shares of the company’s stock valued at $443,000 after purchasing an additional 9,736 shares during the period. Finally, Investors Research Corp bought a new position in shares of Endava during the 1st quarter worth about $217,000. 62.23% of the stock is 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.