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

Endava plc (NYSE:DAVA)’s share price reached a new 52-week low on Friday . The company traded as low as $23.28 and last traded at $23.75, with a volume of 289802 shares changing hands. The stock had previously closed at $23.94.

Analyst Upgrades and Downgrades

DAVA has been the topic of a number of recent research reports. Guggenheim dropped their price objective on shares of Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. 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 note 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 research note on Friday, January 31st. TD Cowen raised their price target on shares of Endava from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Susquehanna dropped their price target 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. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.10.

Endava Trading Down 0.1 %

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 stock has a market capitalization of $1.41 billion, a PE ratio of 217.45, a PEG ratio of 2.26 and a beta of 1.22. The stock’s 50 day simple moving average is $31.08 and its two-hundred day simple moving average is $29.13.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAVA. Mawer Investment Management Ltd. boosted its stake in Endava by 613.0% in the third quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company’s stock valued at $30,610,000 after acquiring an additional 1,030,403 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Endava by 22.8% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,533,111 shares of the company’s stock valued at $140,073,000 after purchasing an additional 842,433 shares during the period. Alyeska Investment Group L.P. raised its position in shares of Endava by 80.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,806,044 shares of the company’s stock valued at $55,807,000 after purchasing an additional 805,903 shares during the period. JPMorgan Chase & Co. raised its position in shares of Endava by 187.5% in the fourth quarter. JPMorgan Chase & Co. now owns 858,894 shares of the company’s stock valued at $26,540,000 after purchasing an additional 560,190 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Endava in the fourth quarter valued at approximately $14,698,000. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

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.