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

Endava plc (NYSE:DAVA)’s share price traded down 6.1% on Wednesday . The company traded as low as $31.08 and last traded at $30.77. 256,446 shares traded hands during mid-day 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

A number of research analysts have weighed in on the stock. Guggenheim decreased their price objective on shares of Endava from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Morgan Stanley upped their price objective on shares of Endava from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Bank of America assumed coverage on shares of Endava in a research report on Friday, November 22nd. They issued a “neutral” rating and a $29.00 price objective for the company. Citigroup decreased their price objective on shares of Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, October 28th. Finally, Needham & Company LLC upped their price objective on shares of Endava from $36.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.01.

Endava Stock Performance

The company has a market cap of $1.84 billion, a PE ratio of 222.44, a PEG ratio of 2.73 and a beta of 1.22. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.90 and a current ratio of 1.90. The firm’s 50 day moving average is $31.71 and its 200-day moving average is $29.27.

Institutional Trading of Endava

Several large investors have recently bought and sold shares of DAVA. Blue Trust Inc. purchased a new stake in Endava during the 3rd quarter valued at about $30,000. Assetmark Inc. boosted its holdings in Endava by 93.1% in the 4th quarter. Assetmark Inc. now owns 985 shares of the company’s stock valued at $30,000 after purchasing an additional 475 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Endava by 114.2% in the 4th 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 last quarter. Signaturefd LLC boosted its holdings in Endava by 84.1% in the 3rd quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock valued at $50,000 after purchasing an additional 886 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Endava by 86.4% in the 4th 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 last quarter. Hedge funds and other 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.