Endava plc (NYSE:DAVA) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in Endava plc (NYSE:DAVA) by 18.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,316 shares of the company’s stock after purchasing an additional 833 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Endava were worth $414,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in DAVA. Capital World Investors grew its holdings in shares of Endava by 39.3% during the fourth quarter. Capital World Investors now owns 987,200 shares of the company’s stock worth $76,854,000 after buying an additional 278,300 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Endava in the fourth quarter valued at approximately $17,540,000. Wells Fargo & Company MN raised its stake in shares of Endava by 356.5% during the fourth quarter. Wells Fargo & Company MN now owns 246,611 shares of the company’s stock worth $19,199,000 after purchasing an additional 192,593 shares during the last quarter. GW&K Investment Management LLC lifted its holdings in shares of Endava by 66.3% during the fourth quarter. GW&K Investment Management LLC now owns 419,872 shares of the company’s stock worth $32,687,000 after purchasing an additional 167,450 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in Endava in the 4th quarter valued at $5,551,000. 62.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Citigroup lowered their target price on shares of Endava from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, April 22nd. Guggenheim cut their target price on Endava from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Redburn Atlantic assumed coverage on Endava in a report on Friday, May 24th. They issued a “neutral” rating and a $33.10 price target for the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $40.00 price objective on shares of Endava in a report on Monday, April 22nd. Finally, TD Cowen reduced their target price on Endava from $46.00 to $42.00 and set a “buy” rating for the company in a report on Friday, May 24th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.41.

Endava Stock Up 2.8 %

NYSE:DAVA opened at $29.25 on Friday. Endava plc has a 52-week low of $24.51 and a 52-week high of $81.06. The stock has a fifty day simple moving average of $28.66 and a 200-day simple moving average of $47.88. The company has a market capitalization of $1.69 billion, a PE ratio of 32.50 and a beta of 1.21.

Endava (NYSE:DAVA) last posted its earnings results on Thursday, May 23rd. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.10). Endava had a net margin of 5.69% and a return on equity of 7.13%. The business had revenue of $221.14 million for the quarter, compared to analysts’ expectations of $220.59 million. As a group, equities analysts anticipate that Endava plc will post 0.51 earnings per share for the current year.

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.