Endava (NYSE:DAVA) Sets New 1-Year Low After Earnings Miss

Shares of Endava plc (NYSE:DAVA) reached a new 52-week low during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $14.50 and last traded at $15.60, with a volume of 6931065 shares traded. The stock had previously closed at $21.41.

The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.06). Endava had a net margin of 0.74% and a return on equity of 0.89%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DAVA shares. Morgan Stanley boosted their price target on Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Susquehanna lowered their price objective on Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a research report on Friday, February 21st. Needham & Company LLC lowered their price objective on Endava from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday. Guggenheim lowered their price objective on Endava from $40.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, TD Cowen downgraded Endava from a “buy” rating to a “hold” rating and set a $17.00 price objective on the stock. in a research report on Thursday. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.41.

Institutional Trading of Endava

A number of large investors have recently added to or reduced their stakes in DAVA. SG Americas Securities LLC increased its stake in Endava by 1,299.1% in the 4th quarter. SG Americas Securities LLC now owns 430,366 shares of the company’s stock worth $13,298,000 after acquiring an additional 399,605 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Endava in the 4th quarter worth approximately $783,000. AEGON ASSET MANAGEMENT UK Plc increased its stake in Endava by 35.3% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 332,642 shares of the company’s stock worth $10,282,000 after acquiring an additional 86,870 shares during the last quarter. Blue Trust Inc. increased its stake in Endava by 28.5% in the 4th quarter. Blue Trust Inc. now owns 1,494 shares of the company’s stock worth $46,000 after acquiring an additional 331 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Endava by 13.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 204,300 shares of the company’s stock worth $6,313,000 after acquiring an additional 25,000 shares during the last quarter. Institutional investors own 62.23% of the company’s stock.

Endava Trading Up 2.0%

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 stock has a 50 day simple moving average of $18.99 and a 200-day simple moving average of $25.71. The firm has a market cap of $889.89 million, a P/E ratio of 137.05, a P/E/G ratio of 2.26 and a beta of 1.25.

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.