Endava plc (NYSE:DAVA) Shares Sold by BIP Wealth LLC

BIP Wealth LLC lessened its holdings in shares of Endava plc (NYSE:DAVA) by 2.2% during the fourth quarter, HoldingsChannel reports. The fund owned 121,850 shares of the company’s stock after selling 2,750 shares during the period. Endava comprises approximately 0.7% of BIP Wealth LLC’s investment portfolio, making the stock its 20th biggest holding. BIP Wealth LLC’s holdings in Endava were worth $9,486,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC grew its holdings in Endava by 16.5% in the third quarter. FMR LLC now owns 1,807,318 shares of the company’s stock valued at $103,650,000 after purchasing an additional 256,250 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Endava in the third quarter valued at $58,433,000. Invesco Ltd. grew its holdings in Endava by 156.5% in the third quarter. Invesco Ltd. now owns 866,076 shares of the company’s stock valued at $49,669,000 after purchasing an additional 528,384 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Endava in the fourth quarter valued at $17,540,000. Finally, Eagle Asset Management Inc. grew its holdings in Endava by 22.6% in the third quarter. Eagle Asset Management Inc. now owns 215,960 shares of the company’s stock valued at $12,385,000 after purchasing an additional 39,772 shares during the last quarter. Institutional investors and hedge funds own 62.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DAVA. JPMorgan Chase & Co. raised Endava from a “neutral” rating to an “overweight” rating and set a $49.00 target price on the stock in a report on Tuesday, March 19th. TD Cowen reduced their price objective on Endava from $85.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Guggenheim started coverage on Endava in a research report on Tuesday, March 19th. They issued a “buy” rating and a $60.00 price objective on the stock. Citigroup reduced their price objective on Endava from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, HSBC downgraded Endava from a “buy” rating to a “hold” rating and upped their price objective for the company from $68.00 to $80.00 in a research report on Monday, January 8th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Endava has an average rating of “Moderate Buy” and a consensus target price of $55.56.

Endava Stock Performance

NYSE DAVA traded down $0.33 during trading hours on Wednesday, hitting $29.98. 379,431 shares of the company’s stock were exchanged, compared to its average volume of 582,891. The business’s 50 day moving average is $41.39 and its 200-day moving average is $57.81. Endava plc has a 12-month low of $29.54 and a 12-month high of $81.06. The firm has a market capitalization of $1.73 billion, a P/E ratio of 20.68 and a beta of 1.10.

Endava (NYSE:DAVA) last released its earnings results on Thursday, February 29th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Endava had a return on equity of 11.77% and a net margin of 8.88%. The business had revenue of $227.96 million for the quarter, compared to analysts’ expectations of $231.07 million. As a group, equities research analysts anticipate that Endava plc will post 0.62 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.