Azzad Asset Management Inc. ADV Lowers Position in Endava plc (NYSE:DAVA)

Azzad Asset Management Inc. ADV cut its holdings in Endava plc (NYSE:DAVA) by 24.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,620 shares of the company’s stock after selling 12,765 shares during the quarter. Azzad Asset Management Inc. ADV owned approximately 0.07% of Endava worth $1,129,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Assetmark Inc. lifted its position in shares of Endava by 47.8% during the fourth quarter. Assetmark Inc. now owns 510 shares of the company’s stock valued at $40,000 after buying an additional 165 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Endava by 34.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,424 shares of the company’s stock valued at $111,000 after purchasing an additional 368 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Endava by 5.6% in the 1st quarter. BNP Paribas Financial Markets now owns 9,273 shares of the company’s stock valued at $353,000 after purchasing an additional 495 shares during the last quarter. Capital International Sarl raised its position in shares of Endava by 4.3% in the 4th quarter. Capital International Sarl now owns 16,996 shares of the company’s stock valued at $1,323,000 after purchasing an additional 708 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Endava by 18.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,316 shares of the company’s stock valued at $414,000 after purchasing an additional 833 shares during the last quarter. 62.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on DAVA. JPMorgan Chase & Co. decreased their price objective on shares of Endava from $43.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Guggenheim cut their price target on shares of Endava from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, May 24th. TD Cowen cut their price target on shares of Endava from $46.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Redburn Atlantic assumed coverage on shares of Endava in a report on Friday, May 24th. They issued a “neutral” rating and a $33.10 price target on the stock. Finally, Needham & Company LLC cut their price target on shares of Endava from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.41.

Endava Stock Performance

Endava stock opened at $31.99 on Friday. The company’s fifty day moving average price is $30.18 and its 200 day moving average price is $34.11. Endava plc has a 1 year low of $24.51 and a 1 year high of $81.06. The stock has a market capitalization of $1.85 billion, a P/E ratio of 35.54 and a beta of 1.22.

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.