Endava (NYSE:DAVA) Reaches New 12-Month Low at $29.56

Endava plc (NYSE:DAVA) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $29.56 and last traded at $29.74, with a volume of 111377 shares changing hands. The stock had previously closed at $30.36.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DAVA shares. Needham & Company LLC reduced their target price on shares of Endava from $70.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. TD Cowen reduced their price target on shares of Endava from $85.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Morgan Stanley lowered Endava from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $68.00 to $80.00 in a research report on Wednesday, January 24th. Guggenheim started coverage on Endava in a research note on Tuesday, March 19th. They set a “buy” rating and a $60.00 target price for the company. Finally, Citigroup reaffirmed a “neutral” rating and issued a $40.00 price target (down previously from $90.00) on shares of Endava in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.78.

Endava Stock Down 2.6 %

The business has a 50-day simple moving average of $45.25 and a 200-day simple moving average of $58.74. The company has a market cap of $1.71 billion, a PE ratio of 20.94 and a beta of 1.10.

Endava (NYSE:DAVA) last posted its quarterly earnings data 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). Endava had a net margin of 8.88% and a return on equity of 11.77%. The firm had revenue of $227.96 million during the quarter, compared to analysts’ expectations of $231.07 million. As a group, equities research analysts predict that Endava plc will post 0.66 EPS for the current fiscal year.

Institutional Trading of Endava

A number of large investors have recently modified their holdings of DAVA. Price T Rowe Associates Inc. MD increased its stake in shares of Endava by 14.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,254,362 shares of the company’s stock worth $631,459,000 after buying an additional 1,037,028 shares during the period. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Endava in the 3rd quarter valued at $58,433,000. Fourth Sail Capital LP purchased a new stake in shares of Endava during the 1st quarter worth $27,622,000. Invesco Ltd. lifted its position in shares of Endava by 156.5% during the 3rd quarter. Invesco Ltd. now owns 866,076 shares of the company’s stock worth $49,669,000 after purchasing an additional 528,384 shares during the last quarter. Finally, Capital World Investors grew its stake in shares of Endava by 115.3% during the first quarter. Capital World Investors now owns 857,000 shares of the company’s stock worth $114,007,000 after purchasing an additional 459,000 shares in the last quarter. 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.