Endava plc (NYSE:DAVA) is CDAM UK Ltd’s 9th Largest Position

CDAM UK Ltd reduced its stake in Endava plc (NYSE:DAVA) by 1.1% during the third quarter, HoldingsChannel.com reports. The fund owned 2,179,527 shares of the company’s stock after selling 23,177 shares during the quarter. Endava comprises approximately 8.2% of CDAM UK Ltd’s holdings, making the stock its 9th biggest position. CDAM UK Ltd’s holdings in Endava were worth $55,665,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of DAVA. Eagle Asset Management Inc. increased its stake in Endava by 3.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 193,358 shares of the company’s stock worth $5,099,000 after acquiring an additional 7,216 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Endava by 120.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,165 shares of the company’s stock valued at $515,000 after acquiring an additional 11,020 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Endava by 30.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 601,898 shares of the company’s stock valued at $15,372,000 after purchasing an additional 141,250 shares in the last quarter. Mawer Investment Management Ltd. increased its position in Endava by 613.0% in the third quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company’s stock worth $30,610,000 after purchasing an additional 1,030,403 shares during the last quarter. Finally, Strengthening Families & Communities LLC increased its position in Endava by 11.4% in the third quarter. Strengthening Families & Communities LLC now owns 9,116 shares of the company’s stock worth $233,000 after purchasing an additional 933 shares during the last quarter. Hedge funds and other institutional investors own 62.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on DAVA. Bank of America assumed coverage on shares of Endava in a research note on Friday. They issued a “neutral” rating and a $29.00 price objective for the company. Citigroup lowered their price target on shares of Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, October 28th. Guggenheim reduced their price objective on Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Needham & Company LLC upped their price objective on Endava from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. lifted their target price on Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Endava has an average rating of “Moderate Buy” and an average price target of $39.83.

Endava Trading Up 0.7 %

NYSE DAVA opened at $28.67 on Monday. The company’s 50-day simple moving average is $26.15 and its two-hundred day simple moving average is $28.32. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 204.79 and a beta of 1.21. Endava plc has a one year low of $23.28 and a one year high of $81.06.

Endava (NYSE:DAVA) last announced its earnings results on Thursday, September 19th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.13). Endava had a return on equity of 1.10% and a net margin of 0.92%. The firm had revenue of $245.30 million during the quarter, compared to the consensus estimate of $248.65 million. Equities analysts forecast that Endava plc will post 0.65 EPS 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.