Endava (NYSE:DAVA) Hits New 52-Week Low – Here’s What Happened

Endava plc (NYSE:DAVA) shares hit a new 52-week low on Monday . The company traded as low as $16.60 and last traded at $16.70, with a volume of 58115 shares changing hands. The stock had previously closed at $17.10.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DAVA. 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. Morgan Stanley lifted their price target on shares of Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, Needham & Company LLC dropped 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. Four 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, Endava currently has an average rating of “Moderate Buy” and a consensus target price of $39.10.

Endava Price Performance

The firm has a market cap of $1.00 billion, a P/E ratio of 154.45, a price-to-earnings-growth ratio of 2.26 and a beta of 1.33. The stock’s 50-day moving average is $22.42 and its 200-day moving average is $26.69. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21.

Endava (NYSE:DAVA) last released 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). Endava had a net margin of 0.74% and a return on equity of 0.89%. The company had revenue of $250.63 million during the quarter, compared to the consensus estimate of $197.33 million. As a group, equities analysts anticipate that Endava plc will post 0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DAVA. Precision Wealth Strategies LLC boosted its holdings in Endava by 41.0% in the first quarter. Precision Wealth Strategies LLC now owns 12,622 shares of the company’s stock valued at $246,000 after acquiring an additional 3,668 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Endava by 85.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 47,125 shares of the company’s stock valued at $919,000 after acquiring an additional 21,773 shares during the period. Azzad Asset Management Inc. ADV raised its stake in Endava by 63.4% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 61,028 shares of the company’s stock valued at $1,191,000 after acquiring an additional 23,674 shares during the period. Portside Wealth Group LLC boosted its holdings in shares of Endava by 75.0% in the first quarter. Portside Wealth Group LLC now owns 22,712 shares of the company’s stock worth $443,000 after acquiring an additional 9,736 shares during the period. Finally, Investors Research Corp bought a new position in shares of Endava in the first quarter valued at approximately $217,000. 62.23% of the stock is currently 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.