Endava (NYSE:DAVA) Reaches New 12-Month Low – Here’s Why

Endava plc (NYSE:DAVA)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $24.33 and last traded at $24.42, with a volume of 178364 shares. The stock had previously closed at $25.37.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Needham & Company LLC lowered their price objective on Endava from $42.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Guggenheim dropped their price objective on Endava from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. boosted their target price on Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Susquehanna dropped their target price on shares of Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Endava presently has an average rating of “Moderate Buy” and an average price target of $42.31.

Endava Stock Down 3.7 %

The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $29.23 and a 200-day moving average price of $29.90. The firm has a market capitalization of $1.36 billion, a PE ratio of 26.43 and a beta of 1.21.

Institutional Investors Weigh In On Endava

Institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in 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 during the period. Wallace Advisory Group LLC acquired a new stake in Endava during the 1st quarter worth approximately $126,000. Fourth Sail Capital LP acquired a new position in shares of Endava during the 1st quarter valued at $27,622,000. Wasatch Advisors LP lifted its stake in shares of Endava by 2.0% during the first quarter. Wasatch Advisors LP now owns 1,262,478 shares of the company’s stock worth $48,025,000 after purchasing an additional 24,699 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV boosted its holdings in Endava by 26.5% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 51,385 shares of the company’s stock worth $1,955,000 after acquiring an additional 10,765 shares during the period. 62.23% of the stock is 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.