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

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

Analyst Ratings Changes

DAVA has been the topic of several research analyst reports. Citigroup cut their price target on Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, October 28th. Needham & Company LLC reduced their price target on shares of Endava from $43.00 to $38.00 and set a “buy” rating for the company in a research report on Friday. Guggenheim decreased their price target on shares of Endava from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. TD Cowen lifted their price objective on shares of Endava from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Bank of America started coverage on shares of Endava in a report on Friday, November 22nd. They issued a “neutral” rating and a $29.00 target price for the company. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.10.

Endava Price Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90. The company’s 50 day moving average is $31.72 and its 200 day moving average is $29.30. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 186.14, a PEG ratio of 2.44 and a beta of 1.22.

Endava (NYSE:DAVA) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.18). The firm had revenue of $250.63 million during the quarter, compared to analysts’ expectations of $197.33 million. Endava had a net margin of 0.92% and a return on equity of 1.10%. Research analysts forecast that Endava plc will post 0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Endava

Several hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. acquired a new stake in shares of Endava in the third quarter valued at approximately $30,000. Assetmark Inc. grew its holdings in Endava by 93.1% during the 4th quarter. Assetmark Inc. now owns 985 shares of the company’s stock valued at $30,000 after buying an additional 475 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Endava by 114.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company’s stock valued at $46,000 after buying an additional 786 shares during the last quarter. Signaturefd LLC increased its position in Endava by 84.1% during the third quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock worth $50,000 after buying an additional 886 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Endava by 86.4% in the fourth quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $50,000 after acquiring an additional 745 shares during the last quarter. 62.23% of the stock is currently owned by hedge funds and other 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.