Endava (NYSE:DAVA) Reaches New 1-Year Low at $29.56

Shares of Endava plc (NYSE:DAVA) 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 trading hands. The stock had previously closed at $30.36.

Analyst Upgrades and Downgrades

DAVA has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded Endava from a “neutral” rating to an “overweight” rating and set a $49.00 target price for the company in a report on Tuesday, March 19th. Needham & Company LLC cut their price objective on shares of Endava from $70.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Citigroup reissued a “neutral” rating and issued a $40.00 target price (down previously from $90.00) on shares of Endava in a research note on Friday, March 1st. TD Cowen dropped their price target on shares of Endava from $85.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. Finally, Guggenheim assumed coverage on shares of Endava in a research report on Tuesday, March 19th. They issued a “buy” rating and a $60.00 price objective on the stock. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Endava currently has an average rating of “Moderate Buy” and an average target price of $60.78.

Endava Stock Performance

The company has a market cap of $1.71 billion, a P/E ratio of 20.94 and a beta of 1.10. The business’s fifty day moving average is $45.25 and its two-hundred day moving average is $58.74.

Endava (NYSE:DAVA) last posted its quarterly earnings results 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). The company had revenue of $227.96 million for the quarter, compared to the consensus estimate of $231.07 million. Endava had a net margin of 8.88% and a return on equity of 11.77%. Analysts expect that Endava plc will post 0.66 EPS for the current fiscal year.

Institutional Trading of Endava

Several institutional investors and hedge funds have recently made changes to their positions in DAVA. Assetmark Inc. raised its holdings in shares of Endava by 47.8% in the 4th quarter. Assetmark Inc. now owns 510 shares of the company’s stock valued at $40,000 after purchasing an additional 165 shares in the last quarter. Azimuth Capital Investment Management LLC increased its holdings in Endava by 0.4% during the first quarter. Azimuth Capital Investment Management LLC now owns 46,927 shares of the company’s stock valued at $3,153,000 after buying an additional 210 shares during the period. Royal Bank of Canada raised its stake in Endava by 3.1% in the third quarter. Royal Bank of Canada now owns 7,323 shares of the company’s stock worth $590,000 after buying an additional 218 shares in the last quarter. Pathstone Family Office LLC lifted its holdings in Endava by 9.1% during the fourth quarter. Pathstone Family Office LLC now owns 3,226 shares of the company’s stock worth $250,000 after buying an additional 270 shares during the period. Finally, Captrust Financial Advisors boosted its position in Endava by 30.5% during the 1st quarter. Captrust Financial Advisors now owns 1,218 shares of the company’s stock valued at $162,000 after acquiring an additional 285 shares in the last quarter. 62.23% of the stock is currently owned by 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.