Endava (NYSE:DAVA) Stock Price Down 3.2% - Here's Why

Endava plc (NYSE:DAVA - Get Free Report)'s stock price was down 3.2% on Monday . The stock traded as low as $20.84 and last traded at $20.89. Approximately 332,435 shares were traded during trading, a decline of 25% from the average daily volume of 443,747 shares. The stock had previously closed at $21.58.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Susquehanna lowered their target price on shares of 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 boosted their price objective 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 target price on shares of Endava from $43.00 to $38.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Endava currently has an average rating of "Moderate Buy" and a consensus target price of $39.10.

Endava Trading Down 3.6 %

The stock has a market capitalization of $1.18 billion, a P/E ratio of 181.15, a P/E/G ratio of 2.26 and a beta of 1.42. The stock's 50 day moving average price is $27.56 and its 200-day moving average price is $27.97. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21.

Remove Ads

Endava (NYSE:DAVA - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $197.33 million. As a group, equities research analysts expect that Endava plc will post 0.57 earnings per share for the current year.

Institutional Trading of Endava

Hedge funds have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Endava by 22.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,533,111 shares of the company's stock worth $140,073,000 after acquiring an additional 842,433 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in Endava by 80.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,806,044 shares of the company's stock worth $55,807,000 after purchasing an additional 805,903 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Endava by 187.5% in the fourth quarter. JPMorgan Chase & Co. now owns 858,894 shares of the company's stock worth $26,540,000 after purchasing an additional 560,190 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Endava during the fourth quarter worth $14,698,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Endava by 1,299.1% during the 4th quarter. SG Americas Securities LLC now owns 430,366 shares of the company's stock valued at $13,298,000 after purchasing an additional 399,605 shares during the last quarter. 62.23% of the stock is owned by hedge funds and other 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.