Azzad Asset Management Inc. ADV Boosts Holdings in Endava plc (NYSE:DAVA)

Azzad Asset Management Inc. ADV boosted its position in shares of Endava plc (NYSE:DAVA) by 26.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,385 shares of the company’s stock after buying an additional 10,765 shares during the quarter. Azzad Asset Management Inc. ADV owned 0.09% of Endava worth $1,955,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Redwood Investments LLC lifted its position in shares of Endava by 666.2% during the fourth quarter. Redwood Investments LLC now owns 40,455 shares of the company’s stock worth $3,149,000 after purchasing an additional 35,175 shares during the last quarter. Simon Quick Advisors LLC bought a new stake in shares of Endava during the fourth quarter worth $5,074,000. Adage Capital Partners GP L.L.C. lifted its position in shares of Endava by 76.9% during 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 purchasing an additional 50,000 shares during the last quarter. US Bancorp DE raised its holdings 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 valued at $1,279,000 after acquiring an additional 15,685 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Endava in the fourth quarter valued at about $17,540,000. 62.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on DAVA shares. Guggenheim decreased their price objective on Endava from $60.00 to $55.00 and set a “buy” rating for the company in a report on Friday, May 24th. JPMorgan Chase & Co. decreased their price objective on Endava from $43.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Morgan Stanley restated an “equal weight” rating and issued a $40.00 price objective on shares of Endava in a report on Monday, April 22nd. Redburn Atlantic started coverage on Endava in a report on Friday, May 24th. They issued a “neutral” rating and a $33.10 price objective for the company. Finally, Citigroup decreased their price objective on Endava from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.41.

Endava Stock Performance

Shares of Endava stock opened at $30.03 on Thursday. The company has a market capitalization of $1.73 billion, a PE ratio of 33.37 and a beta of 1.22. The company has a 50-day simple moving average of $28.64 and a two-hundred day simple moving average of $46.88. Endava plc has a one year low of $24.51 and a one year high of $81.06.

Endava (NYSE:DAVA) last issued its quarterly earnings results on Thursday, May 23rd. The company reported ($0.04) earnings per share 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 for the quarter, compared to analysts’ expectations of $220.59 million. On average, equities analysts predict that Endava plc will post 0.51 earnings per share for the current fiscal 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.