Endava (NYSE:DAVA) Reaches New 12-Month Low – Should You Sell?

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

Analyst Ratings Changes

A number of brokerages recently commented on DAVA. Susquehanna reduced their price objective on shares of Endava from $55.00 to $50.00 and set a “positive” rating for the company in a research report on Friday, February 21st. Needham & Company LLC decreased their price target on Endava from $43.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Guggenheim dropped their price objective on Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Morgan Stanley raised their target price on Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, TD Cowen upped their price target on shares of Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $39.10.

Endava Trading Up 0.9 %

The firm has a market cap of $1.38 billion, a PE 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 current ratio of 1.90 and a quick ratio of 1.90. The business has a 50-day moving average price of $30.78 and a two-hundred day moving average price of $29.04.

Endava (NYSE:DAVA) last posted its earnings results 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). Endava had a net margin of 0.74% and a return on equity of 0.89%. The business had revenue of $250.63 million for the quarter, compared to analysts’ expectations of $197.33 million. Analysts forecast that Endava plc will post 0.57 EPS for the current year.

Institutional Investors Weigh In On Endava

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Polar Asset Management Partners Inc. acquired a new position in shares of Endava in the fourth quarter worth $5,494,000. Prescott Group Capital Management L.L.C. increased its position in Endava by 20.2% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 411,139 shares of the company’s stock worth $12,704,000 after purchasing an additional 69,135 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Endava by 22.8% in the 4th 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 last quarter. Public Employees Retirement System of Ohio purchased a new position in Endava in the 4th quarter valued at about $1,147,000. Finally, Woodline Partners LP acquired a new stake in shares of Endava during the 4th quarter worth about $10,106,000. Hedge funds and other institutional investors own 62.23% of the company’s stock.

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.