Endava (NYSE:DAVA) Sets New 1-Year Low - Time to Sell?

Endava PLC Sponsored ADR (NYSE:DAVA - Get Free Report) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $13.26 and last traded at $13.27, with a volume of 639551 shares. The stock had previously closed at $13.66.

Analyst Upgrades and Downgrades

DAVA has been the subject of several research analyst reports. Susquehanna cut their price objective on Endava from $50.00 to $42.00 and set a "positive" rating for the company in a report on Tuesday, May 20th. Cowen lowered Endava from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Needham & Company LLC lifted their price objective on Endava from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. TD Cowen lowered Endava from a "buy" rating to a "hold" rating and set a $17.00 price objective for the company. in a research note on Thursday, May 15th. Finally, Wall Street Zen upgraded Endava from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Endava currently has an average rating of "Hold" and an average price target of $26.63.

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 stock has a market capitalization of $795.67 million, a PE ratio of 35.47, a price-to-earnings-growth ratio of 1.25 and a beta of 1.14. The firm has a 50 day moving average price of $15.51 and a 200 day moving average price of $21.77.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Endava by 36.7% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,198,846 shares of the company's stock worth $120,939,000 after buying an additional 1,665,735 shares during the period. Invesco Ltd. boosted its holdings in Endava by 5.0% in the 1st quarter. Invesco Ltd. now owns 3,440,658 shares of the company's stock worth $67,127,000 after buying an additional 164,475 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in Endava by 7.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,549,317 shares of the company's stock worth $78,774,000 after buying an additional 171,048 shares during the period. CDAM UK Ltd boosted its holdings in Endava by 7.8% in the 4th quarter. CDAM UK Ltd now owns 2,348,674 shares of the company's stock worth $72,574,000 after buying an additional 169,147 shares during the period. Finally, Alyeska Investment Group L.P. boosted its holdings in Endava by 80.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,806,044 shares of the company's stock worth $55,807,000 after buying an additional 805,903 shares during the period. 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.