Endava plc (NYSE:DAVA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in Endava plc (NYSE:DAVA) by 11.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,683 shares of the company’s stock after selling 6,654 shares during the period. Allspring Global Investments Holdings LLC owned about 0.09% of Endava worth $4,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings in Endava by 433.3% in the third quarter. Tower Research Capital LLC TRC now owns 480 shares of the company’s stock valued at $39,000 after acquiring an additional 390 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Endava by 194.9% in the 3rd quarter. Signaturefd LLC now owns 1,153 shares of the company’s stock valued at $66,000 after purchasing an additional 762 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Endava by 41.8% during the 3rd quarter. Global Retirement Partners LLC now owns 1,234 shares of the company’s stock worth $69,000 after purchasing an additional 364 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in shares of Endava during the fourth quarter worth $81,000. Finally, Quantbot Technologies LP purchased a new position in Endava in the first quarter valued at $88,000. Hedge funds and other institutional investors own 62.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DAVA. Needham & Company LLC lowered their price objective on Endava from $70.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, March 1st. Morgan Stanley lowered shares of Endava from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $68.00 to $80.00 in a research note on Wednesday, January 24th. TD Cowen reduced their price objective on shares of Endava from $85.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. JPMorgan Chase & Co. raised shares of Endava from a “neutral” rating to an “overweight” rating and set a $49.00 target price on the stock in a research report on Tuesday, March 19th. Finally, Citigroup reissued a “neutral” rating and issued a $40.00 price target (down from $90.00) on shares of Endava in a research report on Friday, March 1st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.78.

Endava Stock Performance

Shares of Endava stock opened at $29.92 on Friday. The company has a market capitalization of $1.73 billion, a P/E ratio of 20.63 and a beta of 1.10. Endava plc has a 1 year low of $29.54 and a 1 year high of $81.06. The company’s fifty day moving average is $44.48 and its two-hundred day moving average is $58.54.

Endava (NYSE:DAVA) last released its quarterly earnings results 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 company had revenue of $227.96 million for the quarter, compared to analysts’ expectations of $231.07 million. Endava had a return on equity of 11.77% and a net margin of 8.88%. As a group, equities analysts expect that Endava plc will post 0.66 earnings per share for the current 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.