Endava (NYSE:DAVA) Reaches New 52-Week Low - Here's What Happened

Key Points

• Endava PLC shares reached a new 52-week low, trading as low as $13.00 and closing at $13.11, amidst a trading volume of 381,114 shares.
• Research analysts have mixed views on the stock, with a consensus rating of "Hold" and an average target price of $25.22, while some firms have downgraded their ratings.
• Institutional investors hold a significant stake in Endava, with 62.23% of the company's stock owned by such investors, indicating strong interest from large financial entities.

Endava PLC Sponsored ADR (NYSE:DAVA - Get Free Report) shares hit a new 52-week low during trading on Thursday . The company traded as low as $13.00 and last traded at $13.11, with a volume of 381114 shares changing hands. The stock had previously closed at $13.55.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Cowen lowered shares of Endava from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Needham & Company LLC increased their target price on shares of Endava from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Endava in a research report on Thursday, July 17th. They set a "hold" rating and a $14.00 target price on the stock. Susquehanna decreased their target price on shares of Endava from $50.00 to $42.00 and set a "positive" rating on the stock in a research report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $18.00 target price on shares of Endava in a research report on Monday, May 19th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Endava presently has a consensus rating of "Hold" and an average target price of $25.22.

Endava Price Performance

The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.21. The firm has a market cap of $754.40 million, a price-to-earnings ratio of 33.63, a price-to-earnings-growth ratio of 1.29 and a beta of 1.14. The company's 50-day moving average is $14.88 and its 200-day moving average is $20.59.

Hedge Funds Weigh In On Endava

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAVA. Sei Investments Co. lifted its stake in Endava by 26.1% in the 4th quarter. Sei Investments Co. now owns 118,095 shares of the company's stock valued at $3,649,000 after purchasing an additional 24,426 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Endava by 187.5% during the fourth quarter. JPMorgan Chase & Co. now owns 858,894 shares of the company's stock valued at $26,540,000 after acquiring an additional 560,190 shares during the last quarter. Arizona PSPRS Trust bought a new position in shares of Endava during the fourth quarter valued at $470,000. CDAM UK Ltd raised its stake in shares of Endava by 7.8% during the fourth quarter. CDAM UK Ltd now owns 2,348,674 shares of the company's stock valued at $72,574,000 after acquiring an additional 169,147 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Endava by 114.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company's stock valued at $46,000 after acquiring an additional 786 shares during the last quarter. 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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