Fourth Sail Capital LP Increases Stake in Endava plc (NYSE:DAVA)

Fourth Sail Capital LP grew its holdings in shares of Endava plc (NYSE:DAVA - Free Report) by 36.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 931,151 shares of the company's stock after purchasing an additional 247,418 shares during the period. Endava makes up about 6.0% of Fourth Sail Capital LP's holdings, making the stock its 7th biggest position. Fourth Sail Capital LP owned approximately 1.61% of Endava worth $23,782,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Blue Trust Inc. acquired a new stake in shares of Endava during the 3rd quarter worth $30,000. Signaturefd LLC boosted its stake in Endava by 84.1% in the third quarter. Signaturefd LLC now owns 1,939 shares of the company's stock valued at $50,000 after acquiring an additional 886 shares during the period. Seven Eight Capital LP acquired a new stake in shares of Endava in the 2nd quarter worth about $216,000. Precision Wealth Strategies LLC boosted its position in Endava by 6.7% during the 3rd quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company's stock worth $219,000 after acquiring an additional 540 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in shares of Endava during the second quarter valued at approximately $263,000. 62.23% of the stock is currently owned by institutional investors and hedge funds.

Endava Stock Performance

Shares of DAVA stock traded down $0.79 on Monday, reaching $26.09. The stock had a trading volume of 467,210 shares, compared to its average volume of 537,435. Endava plc has a 1 year low of $23.28 and a 1 year high of $81.06. The stock has a market cap of $1.51 billion, a P/E ratio of 193.64 and a beta of 1.21. The company has a 50 day simple moving average of $26.64 and a 200 day simple moving average of $28.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.74 and a current ratio of 1.90.

Endava (NYSE:DAVA - Get Free Report) last issued its quarterly earnings results on Thursday, September 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.13). Endava had a return on equity of 1.10% and a net margin of 0.92%. The company had revenue of $245.30 million during the quarter, compared to the consensus estimate of $248.65 million. Equities research analysts expect that Endava plc will post 0.77 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DAVA shares. Guggenheim cut their target price on shares of Endava from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. TD Cowen raised their target price on Endava from $35.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. increased their price objective on shares of Endava from $41.00 to $47.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Needham & Company LLC lifted their price objective on Endava from $33.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Susquehanna cut their price objective on shares of Endava from $66.00 to $55.00 and set a "positive" rating on the stock in a research report on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $40.91.

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.