Endava (NYSE:DAVA) Shares Down 3.2% – What’s Next?

Endava plc (NYSE:DAVA)’s share price was down 3.2% during trading on Monday . The company traded as low as $20.84 and last traded at $20.89. Approximately 332,435 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 443,747 shares. The stock had previously closed at $21.58.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DAVA shares. Susquehanna lowered their target price on Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a research report on Friday, February 21st. Morgan Stanley boosted their price target on shares of Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Finally, Needham & Company LLC dropped their price objective on shares of Endava from $43.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $39.10.

Endava Stock Down 3.6 %

The company’s fifty day simple moving average is $28.40 and its 200 day simple moving average is $28.20. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.23 billion, a P/E ratio of 189.21, a price-to-earnings-growth ratio of 2.26 and a beta of 1.42.

Endava (NYSE:DAVA) last issued its quarterly earnings results 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 return on equity of 0.89% and a net margin of 0.74%. Research analysts expect that Endava plc will post 0.57 EPS for the current year.

Hedge Funds Weigh In On Endava

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DAVA. Natixis Advisors LLC raised its stake in shares of Endava by 5.9% in the third quarter. Natixis Advisors LLC now owns 31,317 shares of the company’s stock worth $800,000 after purchasing an additional 1,743 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Endava by 30.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 601,898 shares of the company’s stock worth $15,372,000 after buying an additional 141,250 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Endava by 120.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,165 shares of the company’s stock worth $515,000 after buying an additional 11,020 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in Endava by 3.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 193,358 shares of the company’s stock valued at $5,099,000 after acquiring an additional 7,216 shares during the period. Finally, FMR LLC boosted its holdings in shares of Endava by 1.4% during the 3rd quarter. FMR LLC now owns 952,515 shares of the company’s stock valued at $24,327,000 after acquiring an additional 13,106 shares during the last quarter. 62.23% of the stock is 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.