Endava (NYSE:DAVA) Hits New 52-Week Low - Time to Sell?

Endava plc (NYSE:DAVA - Get Free Report)'s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $14.00 and last traded at $14.31, with a volume of 54541 shares trading hands. The stock had previously closed at $14.70.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DAVA. Morgan Stanley increased their price objective on Endava from $33.00 to $35.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $18.00 price target on shares of Endava in a report on Monday, May 19th. Guggenheim cut their price objective on shares of Endava from $40.00 to $28.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Susquehanna reduced their price objective on shares of Endava from $50.00 to $42.00 and set a "positive" rating for the company in a research report on Tuesday, May 20th. Finally, TD Cowen cut shares of Endava from a "buy" rating to a "hold" rating and set a $17.00 target price for the company. in a report on Thursday, May 15th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $26.75.

Endava Price Performance

The company has a 50-day moving average price of $18.04 and a two-hundred day moving average price of $25.24. The company has a market cap of $883.99 million, a PE ratio of 135.91, a P/E/G ratio of 2.26 and a beta of 1.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90.

Hedge Funds Weigh In On Endava

Several institutional investors have recently made changes to their positions in DAVA. Quantbot Technologies LP acquired a new position in shares of Endava in the 1st quarter worth approximately $25,000. Assetmark Inc. increased its holdings in shares of Endava by 93.1% during the 4th quarter. Assetmark Inc. now owns 985 shares of the company's stock valued at $30,000 after acquiring an additional 475 shares during the last quarter. Blue Trust Inc. raised its position in shares of Endava by 28.5% in the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the company's stock valued at $46,000 after purchasing an additional 331 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Endava by 114.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company's stock worth $46,000 after buying an additional 786 shares during the period. Finally, State of Wyoming grew its stake in Endava by 112.7% in the 1st quarter. State of Wyoming now owns 2,367 shares of the company's stock valued at $46,000 after buying an additional 1,254 shares during the last quarter. 62.23% of the stock is owned by 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.