CDAM UK Ltd Reduces Stake in Endava plc (NYSE:DAVA)

CDAM UK Ltd decreased its holdings in shares of Endava plc (NYSE:DAVA - Free Report) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,179,527 shares of the company's stock after selling 23,177 shares during the period. Endava makes up 8.2% of CDAM UK Ltd's portfolio, making the stock its 9th biggest holding. CDAM UK Ltd owned 3.77% of Endava worth $55,665,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Precision Wealth Strategies LLC lifted its position in Endava by 6.7% in the 3rd quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company's stock worth $219,000 after buying an additional 540 shares in the last quarter. Signaturefd LLC raised its position in shares of Endava by 84.1% during the third quarter. Signaturefd LLC now owns 1,939 shares of the company's stock valued at $50,000 after buying an additional 886 shares during the last quarter. Strengthening Families & Communities LLC grew its holdings in shares of Endava by 11.4% during the 3rd quarter. Strengthening Families & Communities LLC now owns 9,116 shares of the company's stock worth $233,000 after purchasing an additional 933 shares in the last quarter. Portside Wealth Group LLC increased its position in shares of Endava by 7.7% during the second quarter. Portside Wealth Group LLC now owns 15,268 shares of the company's stock valued at $446,000 after purchasing an additional 1,090 shares during the period. Finally, Blue Trust Inc. acquired a new stake in Endava during the third quarter worth $30,000. 62.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DAVA has been the subject of a number of research reports. Needham & Company LLC raised their target price on Endava from $33.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. TD Cowen raised their price target on shares of Endava from $35.00 to $36.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Citigroup reduced their price objective on Endava from $30.00 to $27.00 and set a "neutral" rating on the stock in a report on Monday, October 28th. Bank of America began coverage on Endava in a research note on Friday. They issued a "neutral" rating and a $29.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on Endava from $41.00 to $47.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $39.83.

Endava Price Performance

Shares of NYSE DAVA traded up $0.32 during midday trading on Monday, reaching $28.99. The company's stock had a trading volume of 372,379 shares, compared to its average volume of 536,019. The company has a market cap of $1.67 billion, a P/E ratio of 204.79 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.90 and a current ratio of 1.90. The business's 50 day moving average price is $26.15 and its two-hundred day moving average price is $28.32. Endava plc has a fifty-two week low of $23.28 and a fifty-two week high of $81.06.

Endava (NYSE:DAVA - Get Free Report) last posted its quarterly earnings results on Thursday, September 19th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.13). The business had revenue of $245.30 million for the quarter, compared to analyst estimates of $248.65 million. Endava had a return on equity of 1.10% and a net margin of 0.92%. On average, analysts forecast that Endava plc will post 0.65 EPS for the current fiscal year.

Endava Company 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.