Endava (NYSE:DAVA) Hits New 12-Month Low - Here's What Happened

Endava plc (NYSE:DAVA - Get Free Report) reached a new 52-week low during trading on Thursday . The company traded as low as $20.50 and last traded at $20.41, with a volume of 6379 shares. The stock had previously closed at $20.56.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Susquehanna dropped their price target on Endava from $55.00 to $50.00 and set a "positive" rating for the company in a research note on Friday, February 21st. Morgan Stanley upped their target price on shares of Endava from $33.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. Finally, Needham & Company LLC reduced their price target on shares of Endava from $43.00 to $38.00 and set a "buy" rating on the stock in a report on Friday, February 21st. 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.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $39.10.

Endava Stock Down 2.1 %

The business's 50 day simple moving average is $27.32 and its 200 day simple moving average is $27.84. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.15 billion, a PE ratio of 177.31, a PEG ratio of 2.26 and a beta of 1.42.

Endava (NYSE:DAVA - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $197.33 million. On average, equities research analysts forecast that Endava plc will post 0.57 earnings per share for the current year.

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Institutional Trading of Endava

Several hedge funds and other institutional investors have recently bought and sold shares of DAVA. Assetmark Inc. increased its position in Endava by 93.1% during the fourth quarter. Assetmark Inc. now owns 985 shares of the company's stock valued at $30,000 after acquiring an additional 475 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Endava by 28.5% during the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the company's stock valued at $46,000 after buying an additional 331 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Endava by 114.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company's stock valued at $46,000 after buying an additional 786 shares during the period. GAMMA Investing LLC grew its stake in shares of Endava by 86.4% during the fourth quarter. GAMMA Investing LLC now owns 1,607 shares of the company's stock valued at $50,000 after buying an additional 745 shares during the last quarter. Finally, State of Tennessee Department of Treasury purchased a new stake in shares of Endava in the fourth quarter worth approximately $100,000. Hedge funds and other institutional investors own 62.23% of the company's stock.

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.