Endava (NYSE:DAVA) Sets New 52-Week Low – Here’s Why

Endava plc (NYSE:DAVA)’s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $18.93 and last traded at $19.20, with a volume of 447801 shares trading hands. The stock had previously closed at $19.51.

Wall Street Analysts Forecast Growth

DAVA has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on shares of Endava from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Needham & Company LLC decreased their price objective 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. Finally, Susquehanna cut their target price on Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a research report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.10.

Endava Stock Down 1.6 %

The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. The firm has a 50 day simple moving average of $26.84 and a two-hundred day simple moving average of $27.64. The company has a market capitalization of $1.13 billion, a PE ratio of 174.50, a P/E/G ratio of 2.26 and a beta of 1.42.

Endava (NYSE:DAVA) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.18). The firm had revenue of $250.63 million for the quarter, compared to analysts’ expectations of $197.33 million. Endava had a return on equity of 0.89% and a net margin of 0.74%. Research analysts expect that Endava plc will post 0.57 EPS for the current year.

Institutional Investors Weigh In On Endava

A number of institutional investors have recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of 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 buying an additional 842,433 shares during the period. Alyeska Investment Group L.P. raised its position 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 acquiring an additional 805,903 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings 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 acquiring an additional 560,190 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Endava during the 4th quarter worth $14,698,000. Finally, SG Americas Securities LLC grew its stake 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 during the period. 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.