Royce & Associates LP Acquires New Holdings in Endava plc (NYSE:DAVA)

Royce & Associates LP bought a new position in Endava plc (NYSE:DAVA) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 290,846 shares of the company’s stock, valued at approximately $8,987,000.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Endava by 33.0% in the third quarter. State Street Corp now owns 80,148 shares of the company’s stock worth $2,047,000 after buying an additional 19,884 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Endava during the 4th quarter worth $215,000. Robeco Institutional Asset Management B.V. grew its position in shares of Endava by 13.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 204,300 shares of the company’s stock valued at $6,313,000 after acquiring an additional 25,000 shares during the period. 272 Capital LP increased its stake in shares of Endava by 156.3% in the 3rd quarter. 272 Capital LP now owns 145,146 shares of the company’s stock worth $3,707,000 after purchasing an additional 88,518 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in shares of Endava in the 4th quarter worth $442,000. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Endava Stock Up 0.5 %

DAVA opened at $22.30 on Wednesday. Endava plc has a 52 week low of $20.50 and a 52 week high of $40.65. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21. The firm has a 50-day simple moving average of $28.97 and a two-hundred day simple moving average of $28.40. The company has a market capitalization of $1.32 billion, a PE ratio of 202.68, a price-to-earnings-growth ratio of 2.26 and a beta of 1.42.

Endava (NYSE:DAVA) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.18). The business had revenue of $250.63 million during the quarter, compared to analysts’ expectations of $197.33 million. Endava had a return on equity of 0.89% and a net margin of 0.74%. Analysts forecast 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.