abrdn plc Lowers Stock Position in Endava plc (NYSE:DAVA)

abrdn plc lessened its holdings in Endava plc (NYSE:DAVA) by 4.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 169,551 shares of the company’s stock after selling 8,815 shares during the quarter. abrdn plc owned 0.29% of Endava worth $13,200,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC raised its holdings in Endava by 41.8% in the 3rd quarter. Global Retirement Partners LLC now owns 1,234 shares of the company’s stock valued at $69,000 after acquiring an additional 364 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Endava by 8.5% during the third quarter. Verdence Capital Advisors LLC now owns 5,604 shares of the company’s stock worth $321,000 after purchasing an additional 437 shares during the last quarter. Signaturefd LLC lifted its position in shares of Endava by 194.9% during the third quarter. Signaturefd LLC now owns 1,153 shares of the company’s stock worth $66,000 after purchasing an additional 762 shares during the last quarter. Azimuth Capital Investment Management LLC lifted its position in shares of Endava by 1.7% during the third quarter. Azimuth Capital Investment Management LLC now owns 47,040 shares of the company’s stock worth $2,698,000 after purchasing an additional 790 shares during the last quarter. Finally, Institute for Wealth Management LLC. raised its stake in Endava by 14.5% during the fourth quarter. Institute for Wealth Management LLC. now owns 6,818 shares of the company’s stock worth $531,000 after acquiring an additional 861 shares during the period. Hedge funds and other institutional investors own 62.23% of the company’s stock.

Endava Price Performance

DAVA opened at $29.09 on Friday. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 20.06 and a beta of 1.10. The firm has a 50 day simple moving average of $40.60 and a 200 day simple moving average of $57.61. Endava plc has a fifty-two week low of $29.02 and a fifty-two week high of $81.06.

Endava (NYSE:DAVA) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $227.96 million for the quarter, compared to analyst estimates of $231.07 million. Endava had a net margin of 8.88% and a return on equity of 11.77%. As a group, analysts expect that Endava plc will post 0.62 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Needham & Company LLC dropped their price target on shares of Endava from $70.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. HSBC lowered shares of Endava from a “buy” rating to a “hold” rating and raised their price objective for the stock from $68.00 to $80.00 in a research note on Monday, January 8th. TD Cowen decreased their price objective on shares of Endava from $85.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. Morgan Stanley reiterated an “equal weight” rating and issued a $40.00 target price on shares of Endava in a research report on Monday. Finally, Citigroup cut their price target on shares of Endava from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.56.

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.