Endava (NYSE:DAVA) Sets New 1-Year Low at $29.25

Shares of Endava plc (NYSE:DAVA) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $29.25 and last traded at $29.36, with a volume of 42570 shares trading hands. The stock had previously closed at $30.00.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Guggenheim assumed coverage on Endava in a report on Tuesday, March 19th. They issued a “buy” rating and a $60.00 price objective for the company. TD Cowen reduced their target price on Endava from $85.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Citigroup reduced their price objective on shares of Endava from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday. HSBC lowered Endava from a “buy” rating to a “hold” rating and upped their target price for the company from $68.00 to $80.00 in a research report on Monday, January 8th. Finally, Needham & Company LLC dropped their price target on Endava from $70.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Endava currently has an average rating of “Moderate Buy” and a consensus price target of $55.56.

Endava Price Performance

The firm has a fifty day moving average price of $41.39 and a 200-day moving average price of $57.81. The company has a market capitalization of $1.68 billion, a P/E ratio of 20.43 and a beta of 1.10.

Endava (NYSE:DAVA) last announced its earnings results on Thursday, February 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $227.96 million for the quarter, compared to analysts’ expectations of $231.07 million. Endava had a net margin of 8.88% and a return on equity of 11.77%. On average, research analysts forecast that Endava plc will post 0.62 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Raymond James & Associates raised its stake in Endava by 19.4% in the 1st quarter. Raymond James & Associates now owns 160,460 shares of the company’s stock valued at $6,104,000 after acquiring an additional 26,079 shares during the period. Norden Group LLC increased its stake in shares of Endava by 2,587.6% in the first quarter. Norden Group LLC now owns 219,254 shares of the company’s stock worth $8,340,000 after purchasing an additional 211,096 shares in the last quarter. Azzad Asset Management Inc. ADV raised its position in shares of Endava by 26.5% in the first quarter. Azzad Asset Management Inc. ADV now owns 51,385 shares of the company’s stock valued at $1,955,000 after purchasing an additional 10,765 shares during the period. Wasatch Advisors LP lifted its stake in shares of Endava by 2.0% during the 1st quarter. Wasatch Advisors LP now owns 1,262,478 shares of the company’s stock valued at $48,025,000 after buying an additional 24,699 shares in the last quarter. Finally, Fourth Sail Capital LP bought a new position in Endava in the 1st quarter worth approximately $27,622,000. 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.