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

Endava PLC Sponsored ADR (NYSE:DAVA - Get Free Report) hit a new 52-week low on Friday . The company traded as low as $13.98 and last traded at $14.01, with a volume of 688499 shares traded. The stock had previously closed at $14.52.

Analysts Set New Price Targets

DAVA has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price objective on shares of Endava from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $18.00 target price on shares of Endava in a research note on Monday, May 19th. Susquehanna lowered their price target on Endava from $50.00 to $42.00 and set a "positive" rating for the company in a report on Tuesday, May 20th. TD Cowen cut Endava from a "buy" rating to a "hold" rating and set a $17.00 price objective on the stock. in a report on Thursday, May 15th. Finally, Wall Street Zen upgraded Endava from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $26.63.

Endava Stock Performance

The firm has a market cap of $813.43 million, a price-to-earnings ratio of 36.26, a price-to-earnings-growth ratio of 1.25 and a beta of 1.15. The stock has a 50-day moving average of $16.67 and a 200-day moving average of $23.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.18 and a current ratio of 2.18.

Institutional Trading of Endava

Hedge funds and other institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. acquired a new position in Endava during the fourth quarter valued at approximately $215,000. Natixis Advisors LLC increased its position in shares of Endava by 44.8% during the 4th quarter. Natixis Advisors LLC now owns 45,340 shares of the company's stock worth $1,401,000 after purchasing an additional 14,023 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Endava by 35.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,289 shares of the company's stock worth $843,000 after purchasing an additional 7,124 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of 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 buying an additional 24,426 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in shares of Endava in the 4th quarter valued at approximately $442,000. 62.23% of the stock is currently 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.