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

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

Analysts Set New Price Targets

Several research firms have commented on DAVA. HSBC lowered Endava from a “buy” rating to a “hold” rating and upped their price objective for the stock from $68.00 to $80.00 in a research report on Monday, January 8th. Needham & Company LLC cut their price objective on shares of Endava from $70.00 to $50.00 and set a “buy” rating for the company in a report on Friday, March 1st. TD Cowen lowered their target price on shares of Endava from $85.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Morgan Stanley restated an “equal weight” rating and set a $40.00 target price on shares of Endava in a research report on Monday. Finally, Guggenheim began coverage on Endava in a report on Tuesday, March 19th. They issued a “buy” rating and a $60.00 price target for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $55.56.

Endava Stock Performance

The company has a market capitalization of $1.68 billion, a PE ratio of 20.43 and a beta of 1.10. The company has a 50 day simple moving average of $41.39 and a 200 day simple moving average of $57.81.

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

Hedge Funds Weigh In On Endava

Several institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James & Associates raised its position in shares of Endava by 19.4% during the 1st quarter. Raymond James & Associates now owns 160,460 shares of the company’s stock valued at $6,104,000 after buying an additional 26,079 shares during the period. Norden Group LLC increased its stake in Endava by 2,587.6% during the first quarter. Norden Group LLC now owns 219,254 shares of the company’s stock worth $8,340,000 after acquiring an additional 211,096 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its stake in shares of Endava by 26.5% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 51,385 shares of the company’s stock valued at $1,955,000 after purchasing an additional 10,765 shares during the last quarter. Wasatch Advisors LP lifted its stake in shares of Endava by 2.0% in the 1st quarter. Wasatch Advisors LP now owns 1,262,478 shares of the company’s stock valued at $48,025,000 after purchasing an additional 24,699 shares during the last quarter. Finally, Fourth Sail Capital LP acquired a new stake in shares of Endava during the 1st quarter worth about $27,622,000. 62.23% of the stock is currently owned by institutional investors and hedge funds.

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.