Endava (NYSE:DAVA) Reaches New 1-Year Low - Here's Why

Key Points

• Endava PLC's stock (NYSE:DAVA) has reached a new **52-week low** at $9.10, with a trading volume of over 1.4 million shares.
• Analysts have lowered their price targets for Endava, with Guggenheim reducing it from $20 to **$18** and Needham & Company lowering it to **$12**, while maintaining a "buy" rating.
• Currently, three analysts have rated Endava with a **"Buy"** rating, while seven have issued a "Hold" rating, indicating mixed sentiment toward the stock's future performance.

Endava PLC Sponsored ADR (NYSE:DAVA - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $9.10 and last traded at $9.15, with a volume of 1459165 shares trading hands. The stock had previously closed at $9.15.

Wall Street Analysts Forecast Growth

Several analysts have commented on DAVA shares. Guggenheim lowered their price target on Endava from $20.00 to $18.00 and set a "buy" rating for the company in a report on Friday, September 5th. Needham & Company LLC decreased their target price on Endava from $20.00 to $12.00 and set a "buy" rating for the company in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft began coverage on Endava in a report on Thursday, July 17th. They set a "hold" rating and a $14.00 target price for the company. Morgan Stanley decreased their target price on Endava from $17.00 to $11.00 and set an "equal weight" rating for the company in a report on Friday, September 5th. Finally, Cowen reiterated a "hold" rating on shares of Endava in a report on Friday, September 5th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Endava presently has a consensus rating of "Hold" and a consensus target price of $20.78.

Endava Stock Performance

The stock has a market cap of $539.83 million, a PE ratio of 20.32 and a beta of 1.13. The stock has a fifty day simple moving average of $12.39 and a two-hundred day simple moving average of $15.60. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 2.32.

Hedge Funds Weigh In On Endava

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vident Advisory LLC acquired a new position in shares of Endava in the 2nd quarter valued at approximately $160,000. Sompo Asset Management Co. Ltd. raised its position in shares of Endava by 54.2% in the 2nd quarter. Sompo Asset Management Co. Ltd. now owns 20,780 shares of the company's stock valued at $318,000 after purchasing an additional 7,300 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in shares of Endava in the 2nd quarter valued at approximately $198,000. Sei Investments Co. raised its position in shares of Endava by 128.3% in the 2nd quarter. Sei Investments Co. now owns 269,725 shares of the company's stock valued at $4,132,000 after purchasing an additional 151,600 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Endava by 14.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 105,048 shares of the company's stock valued at $1,609,000 after purchasing an additional 13,490 shares in the last quarter. Hedge funds and other institutional investors own 62.23% of the company's stock.

About Endava

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.

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