Endava plc (NYSE:DAVA) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lessened its stake in shares of Endava plc (NYSE:DAVA) by 5.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 9,391 shares of the company’s stock after selling 563 shares during the period. Park Avenue Securities LLC’s holdings in Endava were worth $357,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Redwood Investments LLC lifted its holdings in shares of Endava by 666.2% during the fourth quarter. Redwood Investments LLC now owns 40,455 shares of the company’s stock valued at $3,149,000 after purchasing an additional 35,175 shares during the last quarter. Simon Quick Advisors LLC purchased a new stake in Endava during the fourth quarter valued at about $5,074,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Endava by 76.9% in the third quarter. Adage Capital Partners GP L.L.C. now owns 115,000 shares of the company’s stock worth $6,595,000 after buying an additional 50,000 shares during the period. US Bancorp DE increased its position in shares of Endava by 2,113.9% in the fourth quarter. US Bancorp DE now owns 16,427 shares of the company’s stock worth $1,279,000 after acquiring an additional 15,685 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Endava during the fourth quarter valued at approximately $17,540,000. 62.23% of the stock is owned by institutional investors.

Endava Stock Up 2.8 %

DAVA stock opened at $29.24 on Monday. The firm has a 50 day moving average of $28.66 and a two-hundred day moving average of $47.58. Endava plc has a 12 month low of $24.51 and a 12 month high of $81.06. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 32.49 and a beta of 1.21.

Endava (NYSE:DAVA) last issued its quarterly earnings data on Thursday, May 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.10). Endava had a return on equity of 7.13% and a net margin of 5.69%. The business had revenue of $221.14 million during the quarter, compared to the consensus estimate of $220.59 million. On average, research analysts expect that Endava plc will post 0.51 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on DAVA shares. Wedbush decreased their price objective on shares of Endava from $65.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Redburn Atlantic assumed coverage on Endava in a report on Friday, May 24th. They set a “neutral” rating and a $33.10 price target on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $40.00 price objective on shares of Endava in a research note on Monday, April 22nd. Citigroup lowered their target price on Endava from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Endava from $43.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $46.41.

Endava Company Profile

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.