Skandinaviska Enskilda Banken AB publ Increases Stake in Endava plc (NYSE:DAVA)

Skandinaviska Enskilda Banken AB publ increased its holdings in Endava plc (NYSE:DAVA - Free Report) by 16.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 461,800 shares of the company's stock after acquiring an additional 64,300 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.78% of Endava worth $14,325,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Assetmark Inc. grew its position in Endava by 93.1% in the 4th quarter. Assetmark Inc. now owns 985 shares of the company's stock worth $30,000 after purchasing an additional 475 shares in the last quarter. Blue Trust Inc. grew its position in shares of Endava by 28.5% during the 4th quarter. Blue Trust Inc. now owns 1,494 shares of the company's stock valued at $46,000 after acquiring an additional 331 shares during the period. GAMMA Investing LLC boosted its holdings in Endava by 86.4% in the 4th quarter. GAMMA Investing LLC now owns 1,607 shares of the company's stock worth $50,000 after buying an additional 745 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Endava by 60.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,086 shares of the company's stock worth $126,000 after buying an additional 1,538 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new position in Endava in the 4th quarter worth approximately $215,000. Institutional investors and hedge funds own 62.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Needham & Company LLC cut their price objective on shares of Endava from $43.00 to $38.00 and set a "buy" rating for the company in a report on Friday, February 21st. Susquehanna cut their price objective on shares of Endava from $55.00 to $50.00 and set a "positive" rating for the company in a report on Friday, February 21st. Morgan Stanley raised their price objective on shares of Endava from $33.00 to $35.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Finally, Bank of America began coverage on shares of Endava in a research note on Friday, November 22nd. They issued a "neutral" rating and a $29.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $39.10.

Remove Ads

Endava Price Performance

Shares of Endava stock traded down $0.29 on Wednesday, hitting $22.03. 671,569 shares of the company traded hands, compared to its average volume of 491,351. The firm's 50-day simple moving average is $28.97 and its 200 day simple moving average is $28.40. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.30 billion, a P/E ratio of 200.27, a P/E/G ratio of 2.26 and a beta of 1.42. Endava plc has a 12-month low of $20.50 and a 12-month high of $40.65.

Endava (NYSE:DAVA - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.18). The company had revenue of $250.63 million for the quarter, compared to analysts' expectations of $197.33 million. Endava had a net margin of 0.74% and a return on equity of 0.89%. Analysts expect that Endava plc will post 0.57 earnings per share 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.