Endava plc (NYSE:DAVA) Stock Position Lowered by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its stake in shares of Endava plc (NYSE:DAVA) by 21.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,600 shares of the company’s stock after selling 3,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Endava were worth $358,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DAVA. Alberta Investment Management Corp grew its stake in shares of Endava by 9.3% in the 4th quarter. Alberta Investment Management Corp now owns 1,384,902 shares of the company’s stock valued at $42,793,000 after buying an additional 118,081 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Endava in the fourth quarter worth $442,000. Paradice Investment Management LLC boosted its holdings in shares of Endava by 24.3% during the 4th quarter. Paradice Investment Management LLC now owns 931,024 shares of the company’s stock worth $28,769,000 after buying an additional 181,868 shares during the period. Kornitzer Capital Management Inc. KS grew its stake in Endava by 2.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 287,510 shares of the company’s stock valued at $8,884,000 after buying an additional 7,945 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in Endava by 22.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 81,662 shares of the company’s stock worth $2,523,000 after acquiring an additional 15,173 shares during the period. 62.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DAVA shares. TD Cowen raised their target price on Endava from $35.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Guggenheim reduced their price objective on Endava from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Susquehanna lowered their price objective on Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a research report on Friday, February 21st. Morgan Stanley raised their target price on Endava from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, Bank of America initiated coverage on shares of Endava in a research note on Friday, November 22nd. They set a “neutral” rating and a $29.00 price target on the stock. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Endava presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.10.

Endava Stock Performance

Endava stock opened at $23.72 on Tuesday. The firm has a market capitalization of $1.40 billion, a P/E ratio of 215.64, a P/E/G ratio of 2.26 and a beta of 1.22. The stock has a fifty day moving average price of $31.08 and a two-hundred day moving average price of $29.13. Endava plc has a 52-week low of $23.28 and a 52-week high of $40.65. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90.

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 analysts’ consensus estimates of $0.32 by ($0.18). Endava had a return on equity of 0.89% and a net margin of 0.74%. The firm had revenue of $250.63 million for the quarter, compared to analyst estimates of $197.33 million. As a group, analysts anticipate that Endava plc will post 0.57 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.