Endava (NYSE:DAVA) Hits New 12-Month Low – Here’s What Happened

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on DAVA shares. Bank of America began coverage on Endava in a research report on Friday, November 22nd. They set a “neutral” rating and a $29.00 price target on the stock. 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. Morgan Stanley increased 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. TD Cowen boosted their price objective 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. Finally, Needham & Company LLC cut their target price on shares of Endava from $43.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, February 21st. 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 has a consensus rating of “Moderate Buy” and a consensus price target of $39.10.

Endava Price Performance

The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 209.68, a P/E/G ratio of 2.26 and a beta of 1.42. The company’s 50-day simple moving average is $30.33 and its 200-day simple moving average is $28.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90.

Endava (NYSE:DAVA) last released its quarterly 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 return on equity of 0.89% and a net margin of 0.74%. The firm had revenue of $250.63 million for the quarter, compared to analyst estimates of $197.33 million. Research analysts forecast that Endava plc will post 0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Endava

A number of hedge funds have recently bought and sold shares of DAVA. Mawer Investment Management Ltd. raised 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 purchasing an additional 1,030,403 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Endava by 22.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,533,111 shares of the company’s stock worth $140,073,000 after acquiring an additional 842,433 shares in the last quarter. Alyeska Investment Group L.P. increased its stake 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 valued at $55,807,000 after acquiring an additional 805,903 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Endava by 187.5% during the fourth quarter. JPMorgan Chase & Co. now owns 858,894 shares of the company’s stock worth $26,540,000 after purchasing an additional 560,190 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Endava in the 4th quarter valued at $14,698,000. 62.23% of the stock is owned by 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.