Endava plc (NYSE:DAVA) Stock Position Increased by CDAM UK Ltd

CDAM UK Ltd grew its holdings in Endava plc (NYSE:DAVA) by 7.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,348,674 shares of the company’s stock after purchasing an additional 169,147 shares during the quarter. Endava makes up approximately 10.9% of CDAM UK Ltd’s portfolio, making the stock its 5th largest holding. CDAM UK Ltd’s holdings in Endava were worth $72,574,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DAVA. Assetmark Inc. raised its stake in Endava by 93.1% in 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. boosted its holdings in shares of Endava by 28.5% during the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the company’s stock worth $46,000 after purchasing an additional 331 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Endava by 86.4% in the fourth quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $50,000 after purchasing an additional 745 shares during the period. PNC Financial Services Group Inc. increased its stake in Endava by 60.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,086 shares of the company’s stock valued at $126,000 after purchasing an additional 1,538 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in Endava in the fourth quarter valued at $215,000. 62.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DAVA has been the subject of several recent analyst reports. Needham & Company LLC lowered their price target on Endava from $43.00 to $38.00 and set a “buy” rating for the company in a report on Friday, February 21st. Morgan Stanley boosted their target price 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. Finally, Susquehanna cut their price target on shares of Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a research note on Friday, February 21st. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Endava presently has a consensus rating of “Moderate Buy” and an average target price of $39.10.

Endava Price Performance

DAVA opened at $17.43 on Friday. The company has a 50 day moving average of $26.02 and a two-hundred day moving average of $27.42. Endava plc has a 52-week low of $16.70 and a 52-week high of $34.94. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.03 billion, a P/E ratio of 158.49, a P/E/G ratio of 2.26 and a beta of 1.33.

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