Endava Shares Sink 30% On Weaker Q4 Results

(RTTNews) - Endava plc (DAVA) plunged 29.65 percent to $10.11 on Thursday, down $4.27, after posting weaker fourth-quarter and full-year results. The technology-driven business transformation firm reported revenue of 186.8 million pounds for the fourth quarter, down 3.9 percent from 194.4 million pounds a year earlier.

Profit came in at 1.2 million pounds, or 0.02 pound per share, compared to a loss of 1.9 million pounds, or 0.03 pound per share, in the prior-year quarter.

The stock opened at $10.82 and traded between $9.84 and $11.11 during the session, versus a previous close of $14.38 on the New York Stock Exchange. Trading volume spiked to 6.5 million shares, well above the average of 767,290.

Endava now trades at the bottom of its 52-week range of $9.84 to $34.94, reflecting investor concern over slowing growth.