Endava (NYSE:DAVA) Sets New 52-Week Low at $29.25

Endava plc (NYSE:DAVA)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $29.25 and last traded at $29.36, with a volume of 42570 shares trading hands. The stock had previously closed at $30.00.

Analyst Upgrades and Downgrades

DAVA has been the topic of a number of analyst reports. Needham & Company LLC reduced their price objective 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. HSBC lowered shares of Endava from a “buy” rating to a “hold” rating and upped their price objective for the company from $68.00 to $80.00 in a research note on Monday, January 8th. Morgan Stanley reissued an “equal weight” rating and set a $40.00 target price on shares of Endava in a research note on Monday, April 22nd. Citigroup cut their target price on shares of Endava from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Finally, Guggenheim initiated coverage on shares of Endava in a research note on Tuesday, March 19th. They set a “buy” rating and a $60.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.56.

Endava Price Performance

The company’s fifty day simple moving average is $39.86 and its two-hundred day simple moving average is $57.41. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 20.55 and a beta of 1.10.

Endava (NYSE:DAVA) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Endava had a return on equity of 11.77% and a net margin of 8.88%. The business had revenue of $227.96 million for the quarter, compared to analyst estimates of $231.07 million. On average, analysts forecast that Endava plc will post 0.62 earnings per share for the current year.

Institutional Trading of Endava

Several institutional investors and hedge funds have recently made changes to their positions in the company. Assetmark Inc. raised its holdings in shares of Endava by 47.8% in the fourth quarter. Assetmark Inc. now owns 510 shares of the company’s stock valued at $40,000 after purchasing an additional 165 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Endava by 41.8% in the third quarter. Global Retirement Partners LLC now owns 1,234 shares of the company’s stock valued at $69,000 after purchasing an additional 364 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Endava by 34.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,424 shares of the company’s stock valued at $111,000 after purchasing an additional 368 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Endava by 8.5% in the third quarter. Verdence Capital Advisors LLC now owns 5,604 shares of the company’s stock valued at $321,000 after purchasing an additional 437 shares during the last quarter. Finally, Capital International Sarl raised its holdings in shares of Endava by 4.3% in the fourth quarter. Capital International Sarl now owns 16,996 shares of the company’s stock valued at $1,323,000 after purchasing an additional 708 shares during 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.