Norden Group LLC Acquires New Position in Endava plc (NYSE:DAVA)

Norden Group LLC bought a new position in Endava plc (NYSE:DAVA) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 8,158 shares of the company’s stock, valued at approximately $635,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alliance Wealth Advisors LLC UT purchased a new position in shares of Endava during the 4th quarter worth about $461,000. Russell Investments Group Ltd. increased its holdings in shares of Endava by 74.7% during the 4th quarter. Russell Investments Group Ltd. now owns 115,390 shares of the company’s stock worth $8,983,000 after buying an additional 49,344 shares during the last quarter. Truist Financial Corp purchased a new position in shares of Endava in the 4th quarter worth $207,000. State of New Jersey Common Pension Fund D boosted its holdings in Endava by 12.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 98,321 shares of the company’s stock valued at $7,654,000 after acquiring an additional 11,071 shares during the last quarter. Finally, Institute for Wealth Management LLC. lifted its stake in shares of Endava by 14.5% in the 4th quarter. Institute for Wealth Management LLC. now owns 6,818 shares of the company’s stock valued at $531,000 after purchasing an additional 861 shares in the last quarter. 62.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Morgan Stanley reiterated an “equal weight” rating and set a $40.00 price objective on shares of Endava in a research note on Monday, April 22nd. HSBC upgraded Endava from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Wednesday. Citigroup decreased their price target on Endava from $40.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. Guggenheim initiated coverage on shares of Endava in a research note on Tuesday, March 19th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Endava from a “neutral” rating to an “overweight” rating and set a $49.00 target price for the company in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.67.

Endava Trading Down 3.2 %

Shares of NYSE:DAVA opened at $28.99 on Wednesday. The firm has a market cap of $1.67 billion, a PE ratio of 19.99 and a beta of 1.10. The company has a fifty day simple moving average of $38.36 and a 200 day simple moving average of $56.99. Endava plc has a 12-month low of $28.99 and a 12-month high of $81.06.

Endava (NYSE:DAVA) last announced its quarterly earnings data 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). The firm had revenue of $227.96 million during the quarter, compared to the consensus estimate of $231.07 million. Endava had a net margin of 8.88% and a return on equity of 11.77%. As a group, equities research analysts forecast 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.