The Hoops went 69 games unbeaten against Scottish opposition but saw their run come to an end on Sunday as they fell to a 4-0 defeat at Hearts in the Premiership.
The defeat has led to speculation suggesting that Brendan Rodgers may reshape his squad in the wake of the heavy loss.
However, Davies denied that there would be sweeping changes, either on Wednesday night at home to Partick Thistle or when the transfer window opens in January.
"I wouldn't say we will be overly busy next month to be honest," the 32-year-old told Sky Sports News. "We'll recruit where needed and some players may move on as the squad evolves.
"But it's simple from my point of view - we've lost one game in 70. If you said that in isolation - one defeat in 70 - then you certainly wouldn't think there was major repair work needing done.
"There's no feeling that something needs to change. Of course we want to be better after the weekend, but the manager came up here to dominate and he and his team have won everything on offer so far."