Endava (NYSE:DAVA) Stock Price Down 3.5%

Endava plc (NYSE:DAVA)’s stock price was down 3.5% during mid-day trading on Wednesday . The company traded as low as $35.45 and last traded at $35.53. Approximately 201,905 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 548,927 shares. The stock had previously closed at $36.80.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DAVA shares. Needham & Company LLC cut their price target on Endava from $70.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Citigroup reiterated a “neutral” rating and issued a $40.00 price target (down from $90.00) on shares of Endava in a report on Friday, March 1st. JPMorgan Chase & Co. upgraded Endava from a “neutral” rating to an “overweight” rating and set a $49.00 price target on the stock in a report on Tuesday, March 19th. Morgan Stanley downgraded Endava from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $68.00 to $80.00 in a research note on Wednesday, January 24th. Finally, TD Cowen dropped their target price on Endava from $85.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.78.

Endava Trading Down 1.0 %

The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 23.90 and a beta of 1.10. The company has a fifty day moving average price of $52.43 and a 200-day moving average price of $60.26.

Endava (NYSE:DAVA) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $227.96 million during the quarter, compared to analyst estimates of $231.07 million. Endava had a return on equity of 11.77% and a net margin of 8.88%. As a group, research analysts forecast that Endava plc will post 0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Endava

Large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in shares of Endava by 18.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,316 shares of the company’s stock valued at $414,000 after purchasing an additional 833 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Endava by 2.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 254,301 shares of the company’s stock valued at $19,797,000 after purchasing an additional 6,492 shares in the last quarter. Townsquare Capital LLC purchased a new stake in shares of Endava in the fourth quarter valued at approximately $5,265,000. Legal & General Group Plc grew its position in shares of Endava by 36.2% in the fourth quarter. Legal & General Group Plc now owns 85,089 shares of the company’s stock valued at $6,624,000 after purchasing an additional 22,601 shares in the last quarter. Finally, Vident Advisory LLC purchased a new stake in shares of Endava in the fourth quarter valued at approximately $720,000. 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.