Point72 Asset Management L.P. Buys New Stake in Endava plc (NYSE:DAVA)

Point72 Asset Management L.P. bought a new stake in Endava plc (NYSE:DAVA) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 57,063 shares of the company’s stock, valued at approximately $1,763,000. Point72 Asset Management L.P. owned approximately 0.10% of Endava as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. lifted its holdings in shares of Endava by 93.1% during the 4th quarter. Assetmark Inc. now owns 985 shares of the company’s stock valued at $30,000 after purchasing an additional 475 shares during the last quarter. Blue Trust Inc. increased its position in Endava by 28.5% during the 4th quarter. Blue Trust Inc. now owns 1,494 shares of the company’s stock valued at $46,000 after buying an additional 331 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Endava by 114.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company’s stock valued at $46,000 after buying an additional 786 shares during the last quarter. State of Tennessee Department of Treasury acquired a new stake in Endava in the fourth quarter worth about $100,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Endava by 60.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,086 shares of the company’s stock worth $126,000 after acquiring an additional 1,538 shares in the last quarter. 62.23% of the stock is owned by hedge funds and other institutional investors.

Endava Stock Down 2.2%

NYSE:DAVA opened at $14.72 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90. The company’s fifty day moving average price is $18.64 and its 200-day moving average price is $25.52. Endava plc has a 1-year low of $14.32 and a 1-year high of $34.94. The firm has a market capitalization of $869.11 million, a P/E ratio of 133.85, a PEG ratio of 2.26 and a beta of 1.25.

Endava (NYSE:DAVA) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.18). The company had revenue of $250.63 million for the quarter, compared to analyst estimates of $197.33 million. Endava had a return on equity of 0.89% and a net margin of 0.74%. As a group, equities research analysts anticipate that Endava plc will post 0.57 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DAVA shares. Morgan Stanley upped their price objective on shares of Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.00 target price on shares of Endava in a research report on Monday. Guggenheim cut their price target on shares of Endava from $40.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Cowen downgraded shares of Endava from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Finally, TD Cowen lowered shares of Endava from a “buy” rating to a “hold” rating and set a $17.00 price objective on the stock. in a report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Endava presently has a consensus rating of “Hold” and a consensus price target of $29.71.

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.