Endava Stock Drops Over 25% Amid CFO Leave and Auditor Concerns

Endava plc, a technology company trading on the NYSE under the ticker DAVA, saw its share price plummet by over 25% on September 22, 2026. The significant drop followed an announcement from the company that its Chief Financial Officer, Mark Thurston, had been placed on administrative leave effective September 21, 2026.

In addition to the CFO's leave, Endava revealed that an internal investigation has been initiated. This investigation stems from concerns raised by the company's outside auditors regarding the accounting treatment of certain customer and supplier agreements. The company also announced delays in filing its quarterly and annual reports due to these developments.

These revelations have prompted a national shareholder rights firm, Hagens Berman, to launch an investigation. The firm is examining whether Endava has provided adequate transparency to investors regarding its compliance with accounting rules and whether federal securities laws may have been violated. The firm is urging Endava investors who have suffered substantial losses to report their losses.

The market's reaction was swift, underscoring investor concerns about financial transparency and potential accounting irregularities. The ongoing investigation and the departure of the CFO signal a period of uncertainty for Endava as it addresses these issues and works to file its delayed financial reports.