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

Endava plc (NYSE:DAVA)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $21.09 and last traded at $21.52, with a volume of 342373 shares changing hands. The stock had previously closed at $21.78.

Analysts Set New Price Targets

A number of brokerages have weighed in on DAVA. 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 report on Friday, February 21st. Morgan Stanley raised their price objective on shares of Endava from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Susquehanna lowered their target price on shares of Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a report on Friday, February 21st. Finally, Bank of America initiated coverage on Endava in a research report on Friday, November 22nd. They set a “neutral” rating and a $29.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Endava has an average rating of “Moderate Buy” and a consensus target price of $39.10.

Endava Trading Down 3.2 %

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 stock has a market cap of $1.22 billion, a P/E ratio of 187.80, a PEG ratio of 2.26 and a beta of 1.42. The firm’s fifty day moving average price is $29.57 and its two-hundred day moving average price is $28.66.

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). The business had revenue of $250.63 million during the quarter, compared to analysts’ expectations 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 year.

Hedge Funds Weigh In On Endava

A number of hedge funds and other institutional investors have recently bought and sold shares of DAVA. Polar Asset Management Partners Inc. purchased a new stake in shares of Endava during the 4th quarter valued at $5,494,000. Prescott Group Capital Management L.L.C. raised its position in Endava by 20.2% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 411,139 shares of the company’s stock valued at $12,704,000 after purchasing an additional 69,135 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Endava by 22.8% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,533,111 shares of the company’s stock worth $140,073,000 after purchasing an additional 842,433 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Endava during the fourth quarter worth about $1,147,000. Finally, Woodline Partners LP purchased a new position in shares of Endava in the 4th quarter worth about $10,106,000. Hedge funds and other 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.