Endava (NYSE:DAVA) Shares Down 6.1% - Time to Sell?

Endava plc (NYSE:DAVA - Get Free Report)'s share price fell 6.1% on Wednesday . The company traded as low as $31.08 and last traded at $30.77. 256,446 shares traded hands during trading, a decline of 14% from the average session volume of 299,356 shares. The stock had previously closed at $32.76.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DAVA. Susquehanna decreased their price target on shares of Endava from $55.00 to $50.00 and set a "positive" rating for the company in a research note on Friday. Guggenheim decreased their target price on Endava from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Needham & Company LLC dropped their price target on Endava from $43.00 to $38.00 and set a "buy" rating on the stock in a research report on Friday. Bank of America assumed coverage on Endava in a report on Friday, November 22nd. They issued a "neutral" rating and a $29.00 price objective for the company. Finally, Citigroup lowered their price objective on Endava from $30.00 to $27.00 and set a "neutral" rating on the stock in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Endava has a consensus rating of "Moderate Buy" and a consensus price target of $39.10.

Endava Stock Performance

The stock has a market capitalization of $1.54 billion, a P/E ratio of 186.14, a PEG ratio of 2.44 and a beta of 1.22. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $31.65 and a two-hundred day moving average price of $29.27.

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 1.10% and a net margin of 0.92%. The firm had revenue of $250.63 million for the quarter, compared to the consensus estimate of $197.33 million. Equities analysts expect that Endava plc will post 0.57 earnings per share for the current year.

Institutional Trading of Endava

A number of hedge funds have recently made changes to their positions in DAVA. Blue Trust Inc. increased its holdings in shares of Endava by 28.5% in the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the company's stock worth $46,000 after buying an additional 331 shares during the period. Precision Wealth Strategies LLC grew its position in Endava by 4.5% during the 4th quarter. Precision Wealth Strategies LLC now owns 8,954 shares of the company's stock worth $277,000 after acquiring an additional 383 shares during the last quarter. Assetmark Inc. increased its stake in Endava by 93.1% in the 4th quarter. Assetmark Inc. now owns 985 shares of the company's stock worth $30,000 after purchasing an additional 475 shares during the period. GAMMA Investing LLC increased its stake in Endava by 86.4% in the 4th quarter. GAMMA Investing LLC now owns 1,607 shares of the company's stock worth $50,000 after purchasing an additional 745 shares during the period. Finally, Quadrant Capital Group LLC lifted its position in Endava by 114.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company's stock valued at $46,000 after purchasing an additional 786 shares during the last quarter. 62.23% of the stock is owned by 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.