Endava (NYSE:DAVA) Shares Down 3.2% – What’s Next?

Endava plc (NYSE:DAVA)’s share price dropped 3.2% during trading on Monday . The company traded as low as $20.84 and last traded at $20.89. Approximately 332,435 shares traded hands during trading, a decline of 25% from the average daily volume of 443,747 shares. The stock had previously closed at $21.58.

Analysts Set New Price Targets

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

Endava Trading Down 3.6 %

The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 189.21, a PEG ratio of 2.26 and a beta of 1.42. The firm has a 50 day moving average price of $28.40 and a two-hundred day moving average price of $28.20.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DAVA. Kayne Anderson Rudnick Investment Management LLC lifted its stake in 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 buying an additional 842,433 shares during the period. Alyeska Investment Group L.P. grew its holdings in Endava by 80.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,806,044 shares of the company’s stock worth $55,807,000 after purchasing an additional 805,903 shares during the period. JPMorgan Chase & Co. increased its stake in 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 in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Endava during the fourth quarter valued at about $14,698,000. Finally, SG Americas Securities LLC boosted its position in shares of Endava by 1,299.1% during the 4th quarter. SG Americas Securities LLC now owns 430,366 shares of the company’s stock worth $13,298,000 after purchasing an additional 399,605 shares in the last quarter. 62.23% of the stock is owned by 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.