Endava (NYSE:DAVA) Reaches New 52-Week Low - Should You Sell?

Key Points

• Endava's stock hit a new 52-week low at $8.29, closing at $8.32 with over 1.7 million shares traded.
• Several Wall Street analysts have **downgraded** their price targets for Endava, with Morgan Stanley reducing theirs from $17.00 to $11.00.
• Despite the downturn, **institutional ownership** remains strong, with 62.23% of Endava's stock held by institutional investors.

Endava PLC Sponsored ADR (NYSE:DAVA - Get Free Report)'s share price reached a new 52-week low during trading on Friday . The stock traded as low as $8.29 and last traded at $8.32, with a volume of 1732584 shares changing hands. The stock had previously closed at $8.95.

Wall Street Analysts Forecast Growth

DAVA has been the topic of a number of recent research reports. Morgan Stanley dropped their target price on Endava from $17.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Friday, September 5th. Guggenheim reduced their price objective on shares of Endava from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Friday, September 5th. JPMorgan Chase & Co. dropped their price objective on shares of Endava from $18.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, August 20th. Wall Street Zen cut shares of Endava from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Endava in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Endava has a consensus rating of "Hold" and an average target price of $20.78.

Endava Stock Performance

The company has a market cap of $467.84 million, a P/E ratio of 12.26 and a beta of 1.15. The company has a 50 day moving average price of $11.14 and a 200-day moving average price of $14.53. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On Endava

Several hedge funds and other institutional investors have recently made changes to their positions in DAVA. Smartleaf Asset Management LLC increased its position in Endava by 23.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,620 shares of the company's stock worth $72,000 after purchasing an additional 689 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Endava by 81.0% during the second quarter. GAMMA Investing LLC now owns 1,683 shares of the company's stock worth $26,000 after purchasing an additional 753 shares during the period. Investors Research Corp lifted its position in shares of Endava by 7.4% during the 2nd quarter. Investors Research Corp now owns 11,950 shares of the company's stock worth $183,000 after buying an additional 825 shares in the last quarter. Strengthening Families & Communities LLC lifted its position in shares of Endava by 13.0% during the 1st quarter. Strengthening Families & Communities LLC now owns 9,997 shares of the company's stock worth $209,000 after buying an additional 1,153 shares in the last quarter. Finally, State of Wyoming lifted its position in shares of Endava by 112.7% during the 1st quarter. State of Wyoming now owns 2,367 shares of the company's stock worth $46,000 after buying an additional 1,254 shares in 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.

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