Endava (NYSE:DAVA) Hits New 1-Year Low at $27.85

Endava plc (NYSE:DAVAGet Free Report)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $27.85 and last traded at $28.10, with a volume of 34622 shares changing hands. The stock had previously closed at $28.43.

Analyst Ratings Changes

Several brokerages have recently issued reports on DAVA. HSBC upgraded shares of Endava from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Wednesday, May 1st. JPMorgan Chase & Co. lowered their target price on shares of Endava from $43.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Needham & Company LLC decreased their price target on shares of Endava from $50.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Wedbush decreased their price target on shares of Endava from $65.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Finally, Redburn Atlantic began coverage on shares of Endava in a research note on Friday, May 24th. They set a “neutral” rating and a $33.10 price target for the company. Three 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 company has a consensus rating of “Moderate Buy” and an average price target of $46.41.

Read Our Latest Stock Analysis on DAVA

Endava Trading Down 3.6 %

The company has a market cap of $1.58 billion, a price-to-earnings ratio of 31.60 and a beta of 1.14. The company’s 50 day moving average price is $32.08 and its 200 day moving average price is $53.57.

Endava (NYSE:DAVAGet Free Report) last announced its quarterly earnings results on Thursday, May 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.10). The company had revenue of $221.14 million during the quarter, compared to analysts’ expectations of $220.59 million. Endava had a net margin of 5.69% and a return on equity of 7.13%. Sell-side analysts predict that Endava plc will post 0.62 earnings per share for the current year.

Hedge Funds Weigh In On Endava

Several hedge funds have recently added to or reduced their stakes in the business. Cetera Advisors LLC boosted its stake in shares of Endava by 35.4% during the 1st quarter. Cetera Advisors LLC now owns 8,065 shares of the company’s stock worth $307,000 after purchasing an additional 2,110 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Endava during the 1st quarter worth about $596,000. Silvercrest Asset Management Group LLC boosted its position in shares of Endava by 9.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 311,992 shares of the company’s stock worth $11,868,000 after acquiring an additional 27,797 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Endava by 15,560.6% in the first quarter. Lazard Asset Management LLC now owns 171,170 shares of the company’s stock worth $6,511,000 after acquiring an additional 170,077 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Endava in the first quarter worth approximately $841,000. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

About Endava

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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.

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