Endava (NYSE:DAVA) Shares Down 6.1% – Here’s Why

Shares of Endava plc (NYSE:DAVA) fell 6.1% during mid-day trading on Wednesday . The stock traded as low as $31.08 and last traded at $30.77. 256,446 shares traded hands during trading, a decline of 14% from the average session volume of 299,356 shares. The stock had previously closed at $32.76.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DAVA. Morgan Stanley lifted their price objective on shares of Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. TD Cowen lifted their price target on shares of Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Citigroup cut their price target on shares of Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, October 28th. Bank of America initiated coverage on shares of Endava in a report on Friday, November 22nd. They issued a “neutral” rating and a $29.00 price target on the stock. Finally, Guggenheim cut their price target on shares of Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Endava presently has a consensus rating of “Moderate Buy” and an average target price of $40.01.

Endava Stock Down 4.9 %

The company’s 50 day moving average price is $31.71 and its 200 day moving average price is $29.27. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 222.44, a P/E/G ratio of 2.73 and a beta of 1.22.

Institutional Investors Weigh In On Endava

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in Endava by 28.5% during the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the company’s stock valued at $46,000 after purchasing an additional 331 shares during the period. Precision Wealth Strategies LLC lifted its position in Endava by 4.5% during the fourth quarter. Precision Wealth Strategies LLC now owns 8,954 shares of the company’s stock valued at $277,000 after purchasing an additional 383 shares during the period. Assetmark Inc. lifted its position in Endava by 93.1% during the fourth quarter. Assetmark Inc. now owns 985 shares of the company’s stock valued at $30,000 after purchasing an additional 475 shares during the period. GAMMA Investing LLC lifted its position in Endava by 86.4% during the fourth quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $50,000 after purchasing an additional 745 shares during the period. Finally, Quadrant Capital Group LLC lifted its position in Endava by 114.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company’s stock valued at $46,000 after purchasing an additional 786 shares during the period. 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.