Endava (NYSE:DAVA) Sets New 12-Month Low – Here’s Why

Endava plc (NYSE:DAVA)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $20.50 and last traded at $20.41, with a volume of 6379 shares trading hands. The stock had previously closed at $20.56.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DAVA. Susquehanna lowered their target price on 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 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. Finally, Morgan Stanley upped 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. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Endava currently has a consensus rating of “Moderate Buy” and an average price target of $39.10.

Endava Trading Down 3.6 %

The firm’s fifty day simple moving average is $27.32 and its 200 day simple moving average is $27.90. The stock has a market capitalization of $1.18 billion, a P/E ratio of 181.15, a price-to-earnings-growth 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 announced its quarterly earnings data 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). The firm had revenue of $250.63 million during the quarter, compared to the consensus estimate of $197.33 million. Endava had a net margin of 0.74% and a return on equity of 0.89%. As a group, equities research analysts forecast that Endava plc will post 0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.