Endava (NYSE:DAVA) Reaches New 12-Month Low Following Analyst Downgrade
Endava (NYSE:DAVA) shares hit a new 52-week low of $6.64 after William Blair downgraded the stock from outperform to market perform. The stock closed at $6.9550, down from $9.43. Analysts have varied opinions, with Guggenheim lowering its target from $20 to $18, while Needham cut it from $20 to $12. Currently, the stock has an average rating of "Hold" and a target price of $20. Institutional investors own 62.23% of the stock, which has seen a 26.2% decline recently.
Shares of Endava PLC Sponsored ADR (NYSE:DAVA - Get Free Report) reached a new 52-week low during trading on Tuesday after William Blair downgraded the stock from an outperform rating to a market perform rating. The company traded as low as $6.64 and last traded at $6.9550, with a volume of 5770919 shares traded. The stock had previously closed at $9.43.
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Several other equities analysts have also issued reports on DAVA. Guggenheim cut their target price 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. JPMorgan Chase & Co. dropped their price target on shares of Endava from $18.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, August 20th. Needham & Company LLC reduced their price objective on Endava from $20.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, September 5th. Weiss Ratings reiterated a "sell (d)" rating on shares of Endava in a report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Endava in a research note on Thursday, July 17th. They set a "hold" rating and a $14.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $20.00.
View Our Latest Report on Endava
Institutional Investors Weigh In On Endava
- Endava Trading Higher After Topping Q4 Consensus Views
Large investors have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC increased its stake 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 valued at $120,939,000 after purchasing an additional 1,665,735 shares in the last quarter. Invesco Ltd. grew its holdings in Endava by 6.4% in the second quarter. Invesco Ltd. now owns 3,661,123 shares of the company's stock valued at $56,088,000 after purchasing an additional 220,465 shares during the last quarter. Paradice Investment Management LLC increased its position in shares of Endava by 19.5% in the third quarter. Paradice Investment Management LLC now owns 1,871,926 shares of the company's stock valued at $17,035,000 after buying an additional 306,066 shares in the last quarter. Fourth Sail Capital LP raised its stake in shares of Endava by 52.9% during the 1st quarter. Fourth Sail Capital LP now owns 1,406,223 shares of the company's stock worth $27,435,000 after buying an additional 486,604 shares during the last quarter. Finally, Alberta Investment Management Corp raised its stake in shares of Endava by 35.6% during the 2nd quarter. Alberta Investment Management Corp now owns 1,288,334 shares of the company's stock worth $19,737,000 after buying an additional 338,334 shares during the last quarter. Hedge funds and other institutional investors own 62.23% of the company's stock.
Endava Trading Down 26.2%
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 business has a 50 day moving average of $9.24 and a 200-day moving average of $12.98. The stock has a market cap of $390.94 million, a PE ratio of 12.92 and a beta of 1.18.
About Endava
(Get Free Report)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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