State of New Jersey Common Pension Fund D Reduces Position in Endava plc (NYSE:DAVA)

State of New Jersey Common Pension Fund D decreased its holdings in Endava plc (NYSE:DAVA) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,489 shares of the company’s stock after selling 1,807 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.12% of Endava worth $1,698,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. AEGON ASSET MANAGEMENT UK Plc increased its holdings in shares of Endava by 8.7% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 245,772 shares of the company’s stock valued at $6,279,000 after purchasing an additional 19,669 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Endava in the 2nd quarter worth $941,000. Horrell Capital Management Inc. increased its stake in shares of Endava by 76.5% in the 3rd quarter. Horrell Capital Management Inc. now owns 150,000 shares of the company’s stock worth $3,831,000 after acquiring an additional 65,000 shares during the last quarter. Silvercrest Asset Management Group LLC raised its holdings in shares of Endava by 9.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 311,992 shares of the company’s stock worth $11,868,000 after acquiring an additional 27,797 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in shares of Endava during the 1st quarter valued at about $841,000. 62.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on DAVA. JPMorgan Chase & Co. lifted their target price on shares of Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Guggenheim reduced their price target on shares of Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Citigroup decreased their price objective on Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, October 28th. Susquehanna cut their target price on Endava from $66.00 to $55.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Finally, Needham & Company LLC upped their price target on Endava from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Endava has a consensus rating of “Moderate Buy” and an average price target of $40.91.

Endava Price Performance

DAVA opened at $26.09 on Tuesday. The stock’s 50-day moving average price is $26.64 and its 200 day moving average price is $28.49. Endava plc has a 12-month low of $23.28 and a 12-month high of $81.06. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 193.64 and a beta of 1.21. The company has a current ratio of 1.90, a quick ratio of 1.74 and a debt-to-equity ratio of 0.21.

Endava (NYSE:DAVA) last issued its quarterly earnings results on Thursday, September 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.13). Endava had a return on equity of 1.10% and a net margin of 0.92%. The business had revenue of $245.30 million for the quarter, compared to analyst estimates of $248.65 million. As a group, sell-side analysts expect that Endava plc will post 0.77 earnings per share for the current year.

Endava 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.