Massachusetts Financial Services Co. MA Sells 2,816 Shares of Endava plc (NYSE:DAVA)

Massachusetts Financial Services Co. MA reduced its stake in shares of Endava plc (NYSE:DAVA) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 599,082 shares of the company’s stock after selling 2,816 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Endava were worth $18,512,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DAVA. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in Endava by 80.0% during the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 30,835 shares of the company’s stock valued at $953,000 after purchasing an additional 13,704 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Endava by 187.5% during the 4th quarter. JPMorgan Chase & Co. now owns 858,894 shares of the company’s stock valued at $26,540,000 after buying an additional 560,190 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Endava by 9.6% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 307,158 shares of the company’s stock worth $9,491,000 after buying an additional 26,964 shares during the period. Pier Capital LLC purchased a new stake in Endava in the 4th quarter worth $6,755,000. Finally, Horrell Capital Management Inc. raised its holdings in Endava by 12.7% during the fourth quarter. Horrell Capital Management Inc. now owns 169,000 shares of the company’s stock valued at $5,222,000 after acquiring an additional 19,000 shares during the period. 62.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DAVA shares. Morgan Stanley upped their price objective on Endava from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Needham & Company LLC cut their price objective on shares of Endava from $43.00 to $38.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, Susquehanna lowered their target price on shares of Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Endava currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.10.

Endava Price Performance

Endava stock opened at $17.43 on Monday. Endava plc has a 52-week low of $16.70 and a 52-week high of $34.94. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 158.49, a PEG ratio of 2.26 and a beta of 1.33. The firm’s fifty day moving average is $26.02 and its 200 day moving average is $27.39. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21.

Endava (NYSE:DAVA) last announced its 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). The business had revenue of $250.63 million for the quarter, compared to analysts’ expectations of $197.33 million. Endava had a net margin of 0.74% and a return on equity of 0.89%. Sell-side analysts forecast that Endava plc will post 0.57 EPS for the current fiscal 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.