Endava (NYSE:DAVA) Trading Down 3.6% – Should You Sell?

Endava plc (NYSE:DAVA) fell 3.6% on Wednesday . The company traded as low as $23.60 and last traded at $23.61. 171,455 shares changed hands during trading, a decline of 68% from the average session volume of 533,605 shares. The stock had previously closed at $24.50.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DAVA. Guggenheim decreased their target price on shares of Endava from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Susquehanna decreased their target price on shares of Endava from $66.00 to $55.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Needham & Company LLC cut their price target on shares of Endava from $42.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.31.

Endava Stock Up 4.1 %

The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average is $28.82 and its 200-day moving average is $29.72. The company has a market cap of $1.43 billion, a PE ratio of 68.61 and a beta of 1.21.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Handelsbanken Fonder AB boosted its stake in shares of Endava by 78.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 14,800 shares of the company’s stock worth $378,000 after acquiring an additional 6,500 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Endava during the 2nd quarter worth $263,000. Point72 Asset Management L.P. purchased a new position in shares of Endava during the 2nd quarter worth $1,835,000. Millennium Management LLC raised its position in shares of Endava by 64.5% during the 2nd quarter. Millennium Management LLC now owns 571,021 shares of the company’s stock valued at $16,697,000 after purchasing an additional 223,964 shares during the period. Finally, Squarepoint Ops LLC raised its position in shares of Endava by 36.5% during the 2nd quarter. Squarepoint Ops LLC now owns 10,322 shares of the company’s stock valued at $302,000 after purchasing an additional 2,759 shares during the period. 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.