Endava (NYSE:DAVA) Hits New 12-Month Low - Time to Sell?

Endava plc (NYSE:DAVA - Get Free Report) reached a new 52-week low on Wednesday . The company traded as low as $18.93 and last traded at $19.20, with a volume of 447801 shares traded. The stock had previously closed at $19.51.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Needham & Company LLC decreased their target price on shares of Endava from $43.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Susquehanna decreased their price objective on shares of Endava from $55.00 to $50.00 and set a "positive" rating for the company in a report on Friday, February 21st. Finally, Morgan Stanley increased 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. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $39.10.

Endava Stock Performance

The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 158.49, a P/E/G ratio of 2.26 and a beta of 1.33. The stock's 50 day moving average price is $26.02 and its 200 day moving average price is $27.39. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21.

Endava (NYSE:DAVA - Get Free Report) last announced 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). The firm had revenue of $250.63 million during the quarter, compared to the consensus estimate of $197.33 million. Endava had a net margin of 0.74% and a return on equity of 0.89%. Analysts expect that Endava plc will post 0.57 earnings per share for the current year.

Hedge Funds Weigh In On Endava

A number of hedge funds have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. acquired a new position in shares of Endava in the 4th quarter valued at about $5,494,000. Prescott Group Capital Management L.L.C. increased its holdings in Endava by 20.2% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 411,139 shares of the company's stock worth $12,704,000 after purchasing an additional 69,135 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Endava by 22.8% in 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 buying an additional 842,433 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Endava during the 4th quarter worth approximately $1,147,000. Finally, Woodline Partners LP acquired a new stake in shares of Endava during the 4th quarter worth approximately $10,106,000. 62.23% of the stock is currently owned by institutional investors.

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.