Endava (NYSE:DAVA) Shares Down 3.2% – Should You Sell?

Endava plc (NYSE:DAVA)’s share price dropped 3.2% during mid-day trading on Monday . The company traded as low as $20.84 and last traded at $20.89. Approximately 332,435 shares changed 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.

Wall Street Analysts Forecast Growth

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

Endava Trading Down 2.5 %

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $1.22 billion, a PE ratio of 187.36, a PEG ratio of 2.26 and a beta of 1.42. The company has a 50 day simple moving average of $27.99 and a two-hundred day simple moving average of $28.07.

Endava (NYSE:DAVA) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.18). The business had revenue of $250.63 million for the quarter, compared to analyst estimates of $197.33 million. Endava had a return on equity of 0.89% and a net margin of 0.74%. Sell-side analysts forecast that Endava plc will post 0.57 EPS for the current year.

Hedge Funds Weigh In On Endava

A number of large investors have recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in Endava by 22.8% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,533,111 shares of the company’s stock worth $140,073,000 after acquiring an additional 842,433 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in shares of Endava by 80.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,806,044 shares of the company’s stock valued at $55,807,000 after buying an additional 805,903 shares during the period. JPMorgan Chase & Co. lifted its holdings in Endava by 187.5% during the 4th quarter. JPMorgan Chase & Co. now owns 858,894 shares of the company’s stock worth $26,540,000 after buying an additional 560,190 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Endava in the 4th quarter valued at $14,698,000. Finally, SG Americas Securities LLC increased its holdings in Endava by 1,299.1% in the fourth quarter. SG Americas Securities LLC now owns 430,366 shares of the company’s stock worth $13,298,000 after purchasing an additional 399,605 shares in the last quarter. Institutional investors own 62.23% of the company’s stock.

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.