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

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)'s share price hit a new 52-week low 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.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Susquehanna lowered their price objective 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. 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 price objective on the stock. Guggenheim restated a "buy" rating and set a $25.00 price objective on shares of Endava in a research report on Tuesday, June 10th. Cowen cut shares of Endava from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Needham & Company LLC upped their target price on shares of Endava from $18.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $25.22.

Endava Price Performance

The stock's 50-day moving average is $14.80 and its 200 day moving average is $20.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 2.18. The company has a market cap of $711.91 million, a PE ratio of 31.72 and a beta of 1.12.

Institutional Trading of Endava

A number of hedge funds and other institutional investors have recently made changes to their positions in DAVA. Smartleaf Asset Management LLC grew its position in Endava by 23.5% during the first quarter. Smartleaf Asset Management LLC now owns 3,620 shares of the company's stock valued at $72,000 after buying an additional 689 shares during the period. Portside Wealth Group LLC grew its position in Endava by 5.7% during the first quarter. Portside Wealth Group LLC now owns 13,145 shares of the company's stock valued at $256,000 after buying an additional 711 shares during the period. GAMMA Investing LLC grew its position in Endava by 81.0% during the second quarter. GAMMA Investing LLC now owns 1,683 shares of the company's stock valued at $26,000 after buying an additional 753 shares during the period. Quadrant Capital Group LLC grew its position in 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 buying an additional 786 shares during the period. Finally, Investors Research Corp grew its position in Endava by 7.4% during the second quarter. Investors Research Corp now owns 11,950 shares of the company's stock valued at $183,000 after buying an additional 825 shares during the period. Institutional investors and hedge funds own 62.23% of the company's stock.

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.