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

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Needham & Company LLC cut their price objective on shares of Endava from $43.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. 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, Morgan Stanley lifted their price objective on shares of Endava from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.10.

Endava Stock Performance

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 firm has a fifty day moving average of $22.42 and a 200 day moving average of $26.69. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 154.45, a PEG ratio of 2.26 and a beta of 1.33.

Endava (NYSE:DAVA) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.14 EPS 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 company had revenue of $250.63 million for the quarter, compared to analyst estimates of $197.33 million. As a group, sell-side analysts forecast that Endava plc will post 0.57 EPS for the current year.

Institutional Investors Weigh In On Endava

Institutional investors have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of 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 valued at $140,073,000 after acquiring an additional 842,433 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Endava by 2.5% during the 4th quarter. Invesco Ltd. now owns 3,276,183 shares of the company’s stock worth $101,234,000 after purchasing an additional 81,004 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in Endava by 7.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,549,317 shares of the company’s stock worth $78,774,000 after buying an additional 171,048 shares during the period. CDAM UK Ltd raised its position in Endava by 7.8% in the fourth quarter. CDAM UK Ltd now owns 2,348,674 shares of the company’s stock valued at $72,574,000 after purchasing an additional 169,147 shares during the period. Finally, Alyeska Investment Group L.P. raised its holdings in shares of Endava by 80.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,806,044 shares of the company’s stock valued at $55,807,000 after buying an additional 805,903 shares during the period. 62.23% of the stock is currently owned by hedge funds and other 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.