Endava plc (NYSE:DAVA) Stake Lessened by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. lessened its stake in Endava plc (NYSE:DAVA) by 6.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,240 shares of the company’s stock after selling 1,040 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Endava were worth $364,000 at the end of the most recent reporting period.

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

Endava Stock Performance

Endava stock opened at $28.67 on Monday. 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 stock has a fifty day moving average price of $26.15 and a two-hundred day moving average price of $28.36. Endava plc has a 52-week low of $23.28 and a 52-week high of $81.06. The firm has a market capitalization of $1.66 billion, a P/E ratio of 204.79 and a beta of 1.21.

Endava (NYSE:DAVA) last issued its earnings results on Thursday, September 19th. The company reported ($0.04) earnings per share (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 company had revenue of $245.30 million for the quarter, compared to the consensus estimate of $248.65 million. As a group, analysts anticipate that Endava plc will post 0.65 EPS for the current fiscal year.

Analysts Set New Price Targets

DAVA has been the topic of several recent analyst reports. Bank of America initiated coverage on Endava in a report on Friday. They set a “neutral” rating and a $29.00 price objective on the stock. Guggenheim dropped their price objective on Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Susquehanna dropped their price objective on Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Needham & Company LLC upped their target price on Endava from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Citigroup decreased their target price on Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.83.

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.