Endava (NYSE:DAVA) Sets New 12-Month Low - Time to Sell?

Key Points

• Endava PLC has hit a new 52-week low, trading as low as $9.67, signaling potential concerns among investors regarding its future performance.
• Analysts have recently downgraded Endava's stock ratings, with TD Cowen and JPMorgan lowering price targets to $17.00, reflecting a cautious outlook.
• Institutional investors control 62.23% of Endava's stock, showing significant interest from hedge funds and asset management firms despite the current stock decline.

Endava PLC Sponsored ADR (NYSE:DAVA - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $9.72 and last traded at $9.67, with a volume of 385317 shares changing hands. The stock had previously closed at $9.93.

Analysts Set New Price Targets

DAVA has been the topic of a number of recent analyst reports. TD Cowen downgraded shares of Endava from a "buy" rating to a "hold" rating and set a $17.00 price target on the stock. in a report on Thursday, May 15th. Cowen reiterated a "hold" rating on shares of Endava in a research report on Friday, September 5th. JPMorgan Chase & Co. lowered their price target on Endava from $18.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, August 20th. Susquehanna cut their price objective on Endava from $50.00 to $42.00 and set a "positive" rating for the company in a research report on Tuesday, May 20th. Finally, Guggenheim decreased their price target on shares of Endava from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $20.78.

Endava Price Performance

The firm has a market cap of $555.48 million, a P/E ratio of 20.91 and a beta of 1.13. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31. The firm has a 50-day simple moving average of $13.42 and a 200-day simple moving average of $16.61.

Hedge Funds Weigh In On Endava

Several hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its stake in Endava by 23.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,620 shares of the company's stock valued at $72,000 after purchasing an additional 689 shares during the last quarter. Portside Wealth Group LLC boosted its holdings in Endava by 5.7% in the first quarter. Portside Wealth Group LLC now owns 13,145 shares of the company's stock valued at $256,000 after purchasing an additional 711 shares during the last quarter. GAMMA Investing LLC grew its position in Endava by 81.0% during the 2nd 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 boosted its stake in shares of Endava by 7.4% in the second quarter. Investors Research Corp now owns 11,950 shares of the company's stock worth $183,000 after buying an additional 825 shares during the last quarter. Finally, Strengthening Families & Communities LLC grew its stake 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 purchasing an additional 1,153 shares during the period. 62.23% of the stock is owned by institutional investors and hedge funds.

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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